Morning Briefing: Major World Equities Market Indexes
$DIA, $DAX, $DJSH, $N300, $NSEI
Commentary: DJIA broke out Monday, and ran up Tuesday, paused to refresh Wednesday and Thursday, DAX is testing support. Overall equities could see a bounce in the next week. Major supports and resistances are seen near current marks and should near term. PE
DJIA at 25509.23, -0.29% is looking to test at 25,750 in here, or it could trade sideways within 25500-24000. Key support is seen at 25500, it should hold, then drive DIA higher early next week.
Notes: For a 2nd day running, the S&P 500 ended the session slightly lower. The S&P 500 remains within striking distance of its 26 January record high, closing Thursday about 0.7% from that mark. The S&P sectors finished Thursday mixed, with decliners outnumbering advancers 6 to 5; financials (-0.6%), industrials (-0.6%), and energy (-0.9%) finished at the bottom of the standings, while the lightly-weighted telecoms space (+1.0%) finished at the Top.
DAX at 12676.11, +0.34% is testing support in here, and has supports at 12300-12500. While they hold, a bounce in the next 2-3 sessions is seen to 12800-12900. Near term looks Bullish to me.
Nikkei at 22494.33, -0.46% sees support at 22400. Overall the Nikkei could be ranged within 22400-22900 for a 3-4 more sessions. Neutral trade to continue for now.
Shanghai at 2797.80, +0.12% wants to move up to 2800-2850. While trading below 2850, the benchmark Chinese index is Bearish medium term and could fall to 2700 or lower nick week.
Nifty at 11470.70, +0.18% closed below 11500 Thursday and is showing signs of a breakout. We will wait for a confirmed break above 11500.
Have a terrific weekend.