Morning Briefing Global Stocks
$DIA, $DAX, $DJSH, $N300, $NSEI, $BSESN
Commentary: World stocks are overall mixed, almost all indices have rallied enough in the past few months and are likely to come off some, they lack any Bearish momentum and are unable to see follow through selling. We will see if they can power through the resistance barrier if they exist. PE.
DJIA at 25803.19, +0.89% was closed Monday and with resumption of trade Tuesday, a test of 26000 or higher is possible near term. Overall, DJIA looks Bullish to me.
DAX at 13200.51, -0.34%) is falling, and a clear break below 13200 will push to 13000, barring that see a bounce to 13400.
Nikkei at 23845.50, +0.55% moved up, not down from near 23800. This raises doubts of whether Nikkei will turn Bearish in here. The Bull strength does not look exhausted, so another move North looks eminent, while it trades above 23500. A clear break below 23500 is needed to turn Bearish medium term.
Shanghai at 3425.34, +0.44% surprised by bouncing from 3400, while resistance near 3440-3450 holds, expect a fall to 3380 or lower this week.
Nifty at 10741.55, +0.56%, and Sensex at 34843.51, +0.73% both moved passing my 1st targets at 10750 and 34750 respectively. A break above 10800 on Nifty could drive it to 11000 medium term, and Sensex up to 35250.
Come back daily for my technical outlook on the world’s Key stock market indexes.
Have a terrific week.
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