Morning Briefing Global Stocks

Morning Briefing Global Stocks

Morning Briefing Global Stocks

$DIA, $DAX, $DJSH, $N300, $NSEI

Commentary: Indexes look Bearish in here. PE

DJIA at 24252.80, -1.33%, and DAX at 12270.33, -2.46% came off sharply Monday.

DIA may test 1st support at 24000 from where a corrective bounce back to 24750-25000 can happen. A break below 24000 could take the index down to 23200, Key support seen on the 3-Day Candles.

DAX to test weekly trend support 12100, if holds could push the index back up. A clear break below 12100 augurs a fall to 11800.

Nikkei at 22221.33, -0.52% is coming off from 22800, and looks bearish to 21800-21400 on the 3-Day Candles, and there is more room on the Southside, so near to medium term looks Bearish to me.

Shanghai at 2846.62, -0.44% opened with a Gap down Tuesday and so not bounce to 2950. The current fall is very sharp, so may see 2750 next.

Sensex at 35470.35, -0.61%, and Nifty at 10762.45, -0.55% likely on the last leg of the narrow range-trade and may break out on either side within the next 2-sessions.

Note: A break on either side determines the direction for the next week or so.

Stay tuned…

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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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