Morning Briefing Global Stocks

Morning Briefing Global Stocks

Morning Briefing Global Stocks

$DIA, $DAX, $DJSH, $N300, $NSEI, $BSESN

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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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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