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: 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.

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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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