Morning Briefing Global Stocks

Morning Briefing Global Stocks

Morning Briefing Global Stocks


Commentary: DJIA needs to move break out in here.PE

DJIA at 24322.34, +0.99% and Dax at 12500.47, +0.63% have both risen from prior levels against my expectations.

On DJIA 23500-23550 is Key, and a sharp rise is needed to drive the index higher medium term, or the DIA is likely to trade within 23550-25000 near term.

DAX tried to rise from 12300 but 12600-12700 is major resistance medium term. Unless a clear break above 12700 happens, DAX may come off to 12300-12200 next week.

Nikkei at 22413.85, +0.42% moved test resistance at 22600. A break there could be a signal of further strength near term.

Note: USD/JPY at 109.25 has been moving up, and if it continues to at 110, Nikkei could get stronger in the week ahead.

Shanghai at 3064.48, -0.34% is weak and is trading above support at 3050. Watch price action near current marks. A break below 3050 may show the way to 2900 or lower, or a bounce to 3100-3150 could occur.

Nifty at 10617.80, +0.45% closed at higher despite weakness in the Indian Rupee. The close above 10600 Thursday was a surprise. Some dip could be seen today if the USD/INR rises to and past 67. Keep an eye on the marks around 10600-10650.

Have a terrific weekend.

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