Morning Briefing Global Stocks

Morning Briefing Global Stocks

Morning Briefing Global Stocks


Commentary: Still see more Northside coming for DJIA after a pause to refresh. PE

Note: A pause in the momentum indicates that the DJIA may see a dip in here.

DJIA at 24664.89, -0.34% is currently trading near important marks, it is important to see if DJIA comes off from 25000 or manages to move up in here. A rejection at 25000 the Key resistance looks likely with a possibility of testing to 24250.

DAX at 12567.42, -0.19% paused at resistance near 12600. Being an important mark, a break or dip here will determine the direction. So, while 12600 holds, DAX could test to 12400-12200, or a rise above 12600 could trigger a medium term move North.

Nikkei at 22222.13, +0.14% seeing Key resistance at 22500-22550 which could push it to 21800-21600 in here. If we see that action in Nikkei it limits the North for USD/JPY to 107.63 now.

Shanghai at 3091.35, -0.83% moved up from 3050 and is trading just below 3100-3150. While these marks prove resistance, Shanghai looks Bearish medium term. A clear break above 3150 signals some Northside action into next week.

Nifty at 10565.30, +0.37% has not been able to close above Key resistance ar 10600, while that holds, a move back to  10400 looks likely to me.

Sensex  at 34427.29, +0.28% loos to me to have made a near term top and could now pull back to 34000 or lower soon.

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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