Morning Briefing Global Stocks

Morning Briefing Global Stocks

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.

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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