Morning Briefing Global Stocks

$DIA, $DAX, $DJSH, $N300, $NSEI

Commentary: Nothing new. PE

DJIA at 21948.10, +0.25%, close to the 1st resistance I have been looking at 21950. A break above 22000 could drive DJIA North towards 22100-22200 medium term, or a fall could mean test to 21700 again.

DAX at 12055.84, +0.44% has been trying to move up, it has opened the last 3-sessions with a gap-up, unable to sustain the highs in a single session. No Bull strength is visible now. 12200 on the Northside is possible near term followed by a corrective dip back to 12000.

Nikkei at 19678.67, +0.17% is seeing 19800-19850 as its Northside limit in here. Looking at the US-Japan 10Yr yield differential at 2.12%, while the yield differential is headed lower towards 2% USD/JPY at 110.04 and Nikkei could be vulnerable to a sharp fall soon.

Shanghai at 3372.98, +0.36% recovered sharply giving a false break below 3360 Thursday. If the index sustains above 3360-3375, it could indicate this rally started from 3200 in August to continue this month as too. In that case, it negates a fall towards 3275.

Nifty at 9917.90, +0.34% ranged within 9950-9750 now. Remain cautious while trading 9950, but in case the index fails to break above 9950 in here, it could come off towards 9750 and fall lower near term. Or, a break above 9950 could take the index back to 10000 or higher. For now see a sharp rejection at 9950.

Have a terrific weekend

  bounce, Bullish, DAX, DIA, levels, N300, NSEI, resistance, stocks, support

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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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