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: 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:  Tuesday, the S&P 500 closed at a new record high for the 3rd session running. It was a range-bound trading day, with the S&P 500 keeping between -0.1% and +0.2%, and 7 of the 11 sectors finished in the Red. The top-weighted technology sector (+0.2%) was an advancer, helping to mitigate losses from energy (-0.5%), materials (-0.4%), and consumer staples (-0.3%).

Canada came back to the NAFTA negotiating table Tuesday after the US and Mexico reached a bi-lateral trade agreement on Monday. President Trump warns that he will proceed without Canada, but US officials are optimistic that a deal can be reached by the end of the week.

In Asia

DJIA at 26064.02, +0.055% has moved up a bit. It is in an upward channel on the daily and could test resistance at 26250-26300 near term. Only on a clear break above 26300, can we see 26600. On the longer term charts there is resistance above current marks which may or may not hold near term.

DAX at 12527.42, -0.087% is seeing also major resistance 12650-12700 region. A clear break above 12700 could drive it to 12900. Now, if DAX does run to 12700 expect a dip.

Nikkei at 22928.04, +0.50% saw a dip Tuesday instead of moving North, but is currently trading above 22850. While Nikkei trades above 22850, there is room for the  up-move to continue to 23200-23400 medium term.

Shanghai at 2775.63, -0.085% is Neutral in here. Unless we see a clear break above 2800, there could be a dip to 2700. Resistance on the daily suggests a possible dip from here yet this week.

Nifty at 11738.50, +0.40% has been moving North. The India index could test 11800 or higher near term.

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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