Morning Briefing: Major World Equities Market Indexes

Morning Briefing: Major World Equities Market Indexes

Morning Briefing: Major World Equities Market Indexes

$DIA, $DAX, $DJSH, $N300, $NSEI

Commentary: DJIA broke out on quiet trade, DAX settled back and looks to test lower in here. PE

DJIA at 25502.18, +0.16%: DA has broke above Key resistance at 25500 on Monday. If this rise sustains above 25500, DIA could continue to move up to 25750 medium term.

Notes: Several FAANGs outperformed Monday, including Facebook(FB 185.69, +7.91), Amazon (AMZN 1847.75, +24.46), and Netflix (NFLX 350.92, +7.83), they added between 1.3%-4.5% apiece. Facebook was particularly strong, but remains about 14.6% below the record high it marked on 25 July ahead of its disappointing Q-2 earnings release.

Monday’s US Industry Watch
Strong: Financials, Consumer Discretionary, Technology
Weak:Telecom Services, Real Estate

Looking at other markets: US Treasuries moved mostly higher, pushing the yield on the benchmark 10-yr T-Note down 2 basis points to 2.94%. While, the US Dollar (.DXY) Index climbed 0.2% to 95.19, a 13-month high, and West Texas Intermediate (WTI) Crude Oil futures advanced 0.8% to 69.03/bbl.

On the data front: investors did not receive any major economic reports Monday. But, looking ahead to Tuesday, the June Job Openings and Labor Turnover Survey will be released at 10:00a EDT, and the June Consumer Credit report will cross the wire at 3:00p EDT.

DAX at 12598.21, -0.14% dipped below 12600 and could test to 12400 before bouncing up from there, watch the action in here.

Nikkei at 22562.10, +0.24% dipped and looks to be ready to test the lower line of the near term range at 22400-22800. A clear break below 22400 must happen keep the Bearish momentum going. Or, a bounce from 22400 will keep this narrow range trade  active longer.

Shanghai at 2731.11, +0.96% look to be stable in here. But, the possibility of testing to 2650 on the Southside is open, along with possibility of moving up to 2800. The Chinese benchmark indexes is currently range trading within 2650-2800.

Nifty at 11387.10, +0.23% did dip below 11400 Monday, and now a test at 11500 looks possible this week before it faced back to 11200.

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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