Morning Briefing: Major World Equities Market Indexes
$DIA, $DAX, $DJSH, $N300, $NSEI
Commentary: DAX looks Bearish near to medium term. DJIA, Shanghai and Nifty have a bit room to the Southside before a bounce higher, Japan’s Nikkei is trading above support marks and could start moving up again next week. PE
Trade talks between the US and Canada resumed Wednesday, producing no notable headlines. Meanwhile, investors are looking ahead to Thursday when the White House could announce its decision regarding another round of tariffs; this one targeting $200-Bworth of Chinese goods.
DJIA at 25974.99, +0.087% has paused to refresh, and could test 25500 before bouncing. Overall the neutral trend on the daily candle may sustain for some more time.
DAX at 12040.46, -1.39% broke below Key support at 12200 instead to running North to 12400. DAX now looks Bearish, and while it trades below 12200 DAX can fall to 11800-11600 medium term. My view is Very Bearish.
Nikkei at 22528.46, -0.23% could test to 22200 yet this week. Nikkei could then start rising to 23000 beginning Monday. Overall the broad range of 22200-23000 is likely to sustaain near to medium term.
Shanghai at 2706.90, +0.095% is holding below 1st resistance and is trading at 2700ish. A break to the Southside could take it to 2650 yet this week and into next, followed by a bounce back to 2750.
Nifty at 11476.95, -0.38/% may hold above 11400 regain its uptrend near term. Only a clear break below 11400 signal a fall to 11200 before a bounce. This week Nifty looks Bearish to me.