Morning Briefing Global Stocks
$DIA, $DAX, $DJSH, $N300, $NSEI
Commentary: The major indexes have risen near term, there are resistances medium term. Be cautious at these marks. PE
DJIA at 25306.83, -0.579% faded from just above 25500, I had expected DIA to gain Bullish strength and rally to 26000+. Lets see if DIA moves back in the next few sessions or falls below support 25250 to resume range trade in the zone around 25250.
DAX at 12798.20, -0.48% dipped, but is within a near term channel uptrend. If support at 12700 holds, DAX could move back to 12900-13000 medium term.
Nikkei at 22470.58, -0.33% has room on the Southside to 22000 near term. But could spend some time ranges within 22200-22800 before coming off. Nikkei may be forming a medium term Top that would be followed by a sharp move South soon.
Shanghai at 2863.99, -0.18% is trading just below Key resistance at 2950-2900, I see it holding near term, and then Shanghai could come off to 2800 or lower near term.
Nifty at 11319.55, +0.37%, seeing long term resistance at 11400-11500, if that holds, then could see a fall to support at 11000 medium term. Be alert and cautious and focus on price action in the 11400-11500 zone.