Morning Briefing Global Stocks
$DIA, $DAX, $DJSH, $N300, $NSEI
Commentary: Trade worries between US and China fade, earnings the focus. PE
Note: Almost all the indexes I screened are now Bullish near to medium term. See the Bull running in global stocks now, how far, how fast, tune in.
DJIA at 24919.66, +0.58% moved up and could test at 25250. Or see a rejection at 25000 (here) and see a dip to 24750 or lower before it moves up again.
DAX at 12609.85, +0.53% wants to test at 12800-13000 in here. Near term looks Bullish to me.
Nikkei at 21891.55, -1.38% gap opened down to test 21800. While support at 21600 holds, the index has room to move to 22600-22800. A clear break below 21600 would be Bearish to 21000.
Shanghai at 2784.02, -1.54% can test to 2700-2650. Near term is Bearish. But we do not expect a fall below 2650 in the near future.
Nifty at 10947.25, +0.87% closed at 10947. If the rise holds, the index could gather momentum and rally towards 11000-11200 in here. Or, it could dip back to test 10850 this week before resuming its move North. Overall, the break of 10850 could trigger a medium term rally.