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 Monday, and ran up Tuesday, DAX looks like it want to mark higher. PE

DJIA at 25628.91, +0.50%: DIA moved up as expected and can run to 25750 after a pause to refresh in here. The resistance on the 3-day and weekly candles has been broken North, and signals more Bullishness medium term.

Notes: US stocks advanced for a 4th straight session running Tuesday, with the S&P 500 climbing 0.3% to 2858. The benchmark index is now within 0.5% of its January 26 record high. The tech-heavy NAS Comp climbed 0.3%, and the DIA rose 0.5%.

DAX at 12648.19, +0.40%: The DAX moved back above 12600 Monday. There is room to move to 13000 or 12400-12200 but while DJIA rises, DAX may follow it up near term. While, DAX above 12600, negate the Bearishness to 12400-12200.

Nikkei  at 22750.48, +0.39% rose sharply and could test resistance at 22800 on the daily. A fall from there keeps Nikkei ranged  or fall below 22400 medium term. Keep an eye on price action above these marks for direction going forward.

Shanghai at 2772.32, -0.25% rose to test 2800 Monday, but is trading lower now. Overall, near term trade seen ranged within 2800-2700 with a bias for a fall to 2650.

Nifty at 11389.45, +0.021% fade from the 1st resistance to close at lower . While the resistance at 11400-11500 does not produce a sharp rejection, Nifty can continue to trade within 11300-11500 for a few sessions more. Then the resistance seen on the weekly line suggest a dip rather sooner the later .

Stay tuned…

The following two tabs change content below.

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.

You must be logged in to post comments :  
CONNECT WITH