Morning Briefing Global Stocks

Morning Briefing Global Stocks

Morning Briefing Global Stocks

$DIA, $DAX, $DJSH, $N300, $NSEI

Commentary: Overall, equities look a little weak in here, with the exception of Shanghai. PE

DJIA at 21674.51 is below near term support at 21800, increasing the chances of a deeper dip to 21500-250 in the last weeks of August.

Also, a further decline is seen in Nikkei at 19382, -0.45%)raising the chances of a test of 19000 this month.

The Dow and Nikkei look Bearish.

DAX at 12165, -0.31% looks ranged between 12000-12500, as I said Friday.

The Shanghai at 3272, +0.11% still looks Bullish off of last Friday’s reading, but a clear break above 3300 is needed in order to drive it into new Bullish territory. Watch it.

The Nifty at 9837.40, -0.70% dip to 9800 Friday and we need to see if it drops to 9700 or not. There are growing chances that the GST implementation could lead to near-term negative impact on India’s economy, resulting in deeper decline towards 9500.

In South Korea, the KOSPI at 2355 could be in line for a fresh decliner to 2300.

Have a terrific week.

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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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