Morning Briefing Global Stocks

Morning Briefing Global Stocks

Morning Briefing Global Stocks

$DIA, $DAX, $DJSH, $N300, $NSEI

Commentary: Nothing new. PE

DJIA at 24307.18, +0.15% is ranged within 24000-24500 now, while the daily trend support near 24000 holds, DIA has room on the Northside to 24750-25000 near term. But, a clear break below 24000 could push it to 23600-23200.

DAX at 12238.17, -0.55% is trading near support, it needs to bounce to 12800. Failure makes it vulnerable to a fall to 11800 medium term.

Nikkei at 21805.73, -0.028% broke below psych support at 22000 Monday and continues to trade lower now. The Bears look dominant, and could push the index down to 21400 near term.

Shanghai at 2752.98, -0.81% seeing a test to 2650 given the strong Southside momentum. Bears are fully dominant now and are likely in control for a while.

Nifty at 10657.30, -0.53% gave back Friday’s gainers. Nifty is likely to spend some time in the 10800-10600 range, but should break North or South next week. Overall the long term trend is up will likely continue for the longer term.

Have a terrific 4th of July!

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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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