Morning Briefing Global Stocks
$DIA, $DAX, $DJSH, $N300, $NSEI
Commentary: DJIA not meeting expectations yet. PE
DJIA at 25175.31, -0.10% has not broken above 25500 and look like it wants to test to 25000 in here, contrary to expectation of a rise to 25750 +. Now, the psych support at 25000 is Key, and a bounce from there could take DIA to 25500. Near term looks Bearish to 25000.
DAX at 13107.10, +1.68% moved up sharply after the ECB meeting Thursday and broke above resistance at 13100. If this break holds and sustains then see 13400 and higher next week. Or a fall back below 13100 signals some Bearishness for the coming sessions.
Nikkei 22827.77, +0.39% seeing Neutral sideways range-trade within 23000-22800 now with small movements. A dip in USD/JPY could restrict the Northside for Nikkei near term.
Shanghai 3023.79, -0.67% is coming off towards 3000 and looks weak in here. It is important to see if the index breaks below 3000 soon. Near to medium term Shanghai looks Bearish while it trades below 3050.
Nifty 10808.05, -0.45% came down for the 2nd session running Thursday after testing resistance at 10900. While 10900 holds Nifty looks Bearish to 10700-10650 medium term.
Have a terrific weekend.