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: Global equities are mixed. DJIA and Shanghai looks weak while Dax, Nikkei and Nifty have scope of rising in the near term. PE

Notes: US stocks dipped for a 2nd day running Thursday. The benchmark S&P 500 index inched away from its elusive 26 January 26 record close, ending the session lower by 0.2%.

2 days worth of US-China trade negations have been happening in the background, the talks wrapped up Thursday.

Friday speech from Fed Chairman Jerome Powell at the annual Jackson Hole Symposium has given investors yet another reason to pause in here. Mr. Powell will take the podium at 10:00a EDT.

In Asia Friday

DJIA at 25656.98, -0.30% dipped Thursday. And while DIA trades below 25750, the blue-chip could come off to test to 25250-2530 early next week before another run North happens.

DAX at 12365.58, -0.16% is Neutral in here. Trading in the middle of the 12200-12700 zone, there are equal chances of moving North or South. Long term DAX looks Bullish to 12600-12700 now.

Nikkei at 22488.68, +0.35% is gradually moving up and headed to resistance at 22850, while that holds see a dip medium term. Nikkei is ranged within the 22850-22500.

Shanghai at 2720.63, -0.15% looks capped at 2750 now. as the 3-day looks weak for Shanghai near term. A clear break above 2750, and if it holds brings 2800 and beyond. But, I see a fall to 2650 now. Overall, Shanghai is ranged-trading within 2800-2650 for now.

Nifty at 11582.75, +0.10% may just move up to and above 11600 Friday. While Nifty trades above 11500, it has room to rise to 11800. Near term looks Bullish above 11600 to me  now.

Have a terrific weekend

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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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