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

Caution: There could be some corrective dips in the stock indices globally. Nifty, DJIA, DAX and Shanghai could see some backing and filling in their rallies, while Nikkei looks stable in here.

Notes: Canada is back at the NAFTA negotiating table, and after the US and Mexico reached a bi-lateral trade agreement the Canadians are expect to align or get kicked out, as President Trump has warn that he will proceed without Canada, but US officials are optimistic that a deal can be reached by Friday’s deadline.

In Asia

DJIA at 26124.57, +0.23% expecting a corrective dip or maybe not. If the near term resistances hold, DIA could come off to 26000.

DAX at 12561.68, +0.27% could fall to 12400 but, while the medium term momentum holds we are Bullish targeting 12700+. Note, a small corrective dip is possible near term if DAX respects the immediate resistance..

Nikkei at 22893.93, +0.20% dipped after rising in the 1 hour of trading Thursday. While Nikkei trades above 22850, our expectation is for rise medium term or not. So, waiting for a confirmation this week and the start of a move to 23000 next week. I am Bullish in here.

Shanghai at 2759.62, -0.35% could find it difficult to move above 2800 near term. While the benchmark Chinese index trades below 2800, the chances for a dip to 2700 near term can happen. A clear break above 2800 is needed to trigger continued momentum medium term Bullishness.

Nifty at 11691.90, -0.40% may very well have seen a high at 11760 earlier this week. A slight dip near term is expected to mark at 11600-11550 in here.

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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