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: Again, 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: US stocks indexed pulled back from record highs Thursday, as President Trump said that e wants to impose tariffs on $200-B worth of Chinese goods as soon as next week.

But, President Trump has not made his final decision regarding this round of tariffs, which, at $200-B, would be the largest tranche to date. On a related note, NAFTA negotiations continued in Washington, with the US and Mexico working to reach an agreement with Canada by the end of the week.

In Asia

DJIA at 25986.92, -0.53% dipped a bit. Although there is some more room on the Northside on the dailies, the resistances on the 3-Day and the weekly candles could very well hold near term holding the blue chip index and pushing it to lower marks at 25500-25000.

DAX at 12494.24, -0.54% tested 12400 on the Southside before it bounced to close higher on the day. Important resistance at 12650 is holding in here, but there is room for a rise medium term ahead.

Nikkei at 22827.79, -0.18% has come off from 23000, the rise above 23500 turned out to be a false break North. While it trades below 23000, the Northside could be limited and Nikkei could come off to 22600-22400 the near term.

Shanghai at 2717.75, -0.73% as expected, Shanghai has fallen, and could continue to support at 2650 support. The benchmark Chinese index looks Bearish to me near term.

Nifty at 11676.80, -0.13% sees major resistance on the 3-Day at  11800, if that holds, Nifty could fall to 11500-11400 before bouncing to 11800.

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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