Morning Briefing Global Stocks

Morning Briefing Global Stocks

Morning Briefing Global Stocks

$DIA, $DAX, $DJSH, $N300, $NSEI

Commentary: Nothing New. PE

DJIA at 22871.72, +0.13% is headed to my expected 23000-23250 marks near term. Overall my view remains Bullish for this week.

DAX at 12991.87, +0.07% made an intra-week high at resistance of 13036 last week and if DAX rises above 13036, could indicate a move to 13500 in here.

Nikkei at 21288.12, +0.63% is trading at multi-year highs, marks not seen since Y 1996. This move can take to to 21500-21600 now. Nikkei looks overbought in here, and could be a signal of some turn-around  near to medium term.  Be ready to see a pause soon.

Shanghai at 3398.62, +0.24% is steadily moving up to 3400-3420 and looks positive near term.

Nifty at 10167.45, +0.70% started celebrating Diwali last Friday, making all time highs near 10190.

Note: Key resistance is seen at 10200 and that could push the Fifty down towards 10100 again. In case Nifty breaks above 10200, there could be a straight 100 pt rally towards 10300-10320 near term.

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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