Morning Briefing: Major World Equities Market Indexes
$DIA, $DAX, $DJSH, $N300, $NSEI
- Globally all of the major stock indices look Bullish near term.
Commentary: Overall global stock market indexes look Bullish in here, except Shanghai and DAX which could see some Neutral range trading during this week. PE
Notes: Wall Street extended Friday’s drive into record territory Monday, with the S&P 500 (+0.8%) registering its 2nd straight record close. The NAS Comp (+0.9%) and the small-cap Russell 2000 (+0.2%) also posted new records, while DJIA (+1.0%) finished about 2.0% below its 26 January all-time high.
News of a trade deal between the US and Mexico helped underpin Monday’s broad based advance, removing some of the trade uncertainty that’s plagued the market at times this year. With a US-Mexico deal in place, Canada will now come to the negotiating table on Wednesday, as the 3 nations look to shred and fully replace their 3-way NAFTA deal.
In Asia Tuesday
DJIA at 26049.64, +1.01%, and DAX at 12538.31, +1.16% both moved up sharply Monday. And they look Bullish near term. DIA could rise to 26300, and DAX to its near-term resistance at12650.
Nikkei at 22934.68, +0.59% has moved above 1st resistance 22800 and if this rise holds could validate the shaping Shoulder-Head-Shoulder pattern indicating further Bullishness near term. While Nikkei trades above 22800-22850 it is Bullish to 23500. This could also mean Bullishness in USD/JPY near term.
Shanghai at 2783.95, +0.11% is also up risen, while the Chinese benchmark trades above 2750, it is seen a Bullish near term to 2800-2850 in here.
Nifty at 11691.95, +1.17% is Bullish to 11800 while trading above 1st support 11600. But there is also resistance here .