Morning Briefing Global Stocks

Morning Briefing Global Stocks

Morning Briefing Global Stocks

$DIA, $DAX, $DJSH, $N300, $NSEI

Commentary: Nothing changed. PE

DJIA at 24211.48, +0.29% bounced up Thursday. Daily candle support is seen near 24000. A test of 24000 is possible before the index rises back to 24600.

DAX at 13034.88, +0.28% remain in its sideways consolidation mode and could spend some more time there, say a week could be spent within 13200-12800 before attempting a rise above 13200.

Nikkei at 22772.53, +1.22% bounced to 22800 instead of a test to 22000. Overall the 23000-22000 region is holding, but Nikkei seems confused on medium term direction. We will wait for a confirmed break on either side for directional clarity.

Shanghai at 3271.02, -0.03% is likely to test to 3250-3230 while trading below 3300.

Note: 3230 is an interim support which could hold, driving the price back to 3300, or a fall to 3200 or lower will come into focus, if we see a break below 3230.

Nifty at 10166.70, +1.22% bounced from marks below 10050 and managed a close above 10150 Thursday.

Sensex at 32949.21, +1.08% rose as expected moving up to 33000. While important marks of 10000 and 33000 holds on Nifty and Sensex respectively, near term looks Bullish to me.

Have a terrific weekend.

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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