Morning Briefing Global Stocks

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

Commentary: The FOMC kept rates unchanged. News states that the introduction of the word “symmetric” in the statement to define the inflation goals could be taken in a way to understand that the Fed would let inflation overshoot its target, and? PE

DJIA at 23924.98, -0.72%, came off 174 pts, but closed above 23750. While that holds DIA is likely to remain ranged within 23500-23250 near term.

DAX at 12802.25, +1.51% broke out above 12700, and while EUR weakens, DAX could mark fresh highs in this rally targeting 13200.

Nikkei at 22472.78, -0.16% is down.

Note: 1st resistance is at 22600, while that holds, see 22200 or lower  near term. Outlook is Bearish in here as I see it.

Shanghai at 3064.44, -0.54% is ranged within 3150-3050 for this week. A break on either side is needed to see which way it will go, North or South.

Nifty at 10718.05, -0.20% should stay stable in here, with the upside capped at 10800. Trade within 10600-10800 range is likely into next week.

Sensex at 35176.42, +0.046% could run to 36000, not much overhead resistance there.

Stay tuned..

  bounce, Bullish, DAX, DIA, levels, N300, NSEI, resistance, stocks, support

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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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