Morning Briefing Global Stocks

Morning Briefing Global Stocks

Morning Briefing Global Stocks


Commentary: Nothing New. PE

DJIA at 26115.65, +1.25% now has 1st resistance near 26200, if it holds, may see a dip to 25600-25800.

DAX at 13183.96, -0.47% look headed to 13000 near term or stay in pause mode for a few sessions. The 3-Day candle signals some more Bearish moves  before trying to move beyond 13400 in longer run.

Nikkei at 23978.61, +0.46% moved up Thursday, and a move to 24200-24300 looks probable near term before a fall comes. The resistance on the weekly charts are holding, and could produce a rejection next.

Shanghai at 3458.68, +0.41% looks Bullish near term and could rise to 3500-3550 in the coming sessions. A corrective decline from 3550 looks possible in longer run.

The Indian government’s decision to lower its additional market borrowing by 60% triggered the rise in the banking stocks which took the Sensex at 35081.82, +0.89% to above 35000. The Northside momentum is likely to continue keeping the index trading above 35000.

Nifty at 10788.55, +0.82% could head to 10800 or higher Thursday, but is expected not to hold.

Stay tuned…

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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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