Morning Briefing Global Stocks

Morning Briefing Global Stocks

Morning Briefing Global Stocks


Commentary: Nothing new. PE

DJIA at 23644.19, -1.90% came off in line with my expectation to below 24000. As mentioned yesterday, near term is likely to be ranged in the 24500-23500 region. The longer term, there could be chances of breaking below 23500-23000, we will wait and see.

DAX at 12096.73, +1.31% was closed Easter Monday. The downward channel of 12300-11700 is holding well now. A test of 12200-12300 is possible before DAX comes off to 11800-11700 again.

Nikkei at 21218.06, -0.80% fell instead of holding above 21400. While the index trades lower, may see re-testing 21000-20800 or lower, as mentioned Monday.

Shanghai at 3133.80, -0.93% came off finding it difficult to move above 3200 now. This could keep the index ranged within the 3100-3200 for now.

Note: a rise above 3200 is needed to take the index higher medium term.

Nifty at 10211.80, +0.97% rose Monday contrary to expectations for a dip to 10020.

Note: Resistance near 10260 may push the index lower in the days ahead.

Sensex at 33255.36, +0.87% may see resistance at 33250, and while that holds, see a fall to 32500 or lower soon.

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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