Morning Briefing Global Stocks

Morning Briefing Global Stocks

Morning Briefing Global Stocks


Commentary: Still see more Northside coming for DJIA in here. PE

DJIA at 24786.63, +0.87% continued to rise as expected, while it trades above 24500 there is room to rise to 25000-25200 into the end of this week or early next. We wait, we see.

DAX at 12585.57, +1.57% broke above resistance at 12500 following the movement in DJIA. While DAX trades above 12500, it looks Bullish to 12800.

Nikkei at 22130.25, +1.29% moved up with strength in the other major indices. A rise to 22500-23000 is on the cards near term.

Shanghai at 3054.98, -0.39% broke below the medium term support, and may indicate weakness  overall for now. A fall towards 3000-2900 is possible near to medium term. My view is Bearish.

Nifty at 10548.70, +0.19%, and Sensex at 34395.06, +0.26% closed up Tuesday and may continue to move higher near term.  Sensex is likely to move to 34500-34600, but Nifty closed just near the important resistance at 10550.

Note: If the Nifty manages to move higher, it see 10650-10700 levels, or fall back.

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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