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: US stocks dropped for the 5th time in 6 sessions on Wednesday as tensions between the Us and Turkey tightened and Crude Oil prices fell to 2-month lows, weighing on energy shares. Late-afternoon reports that Turkey is in  discussion on the issues with the United States saw Wall Street revers and bounce into the close Wednesday. PE

DJIA at 25162.41, -0.54%: DIA tested to 25000 before bouncing into the close paring deeper losses. The channel on the 3-Day chart is holding and indicates more room on the Southside for the index ahead. But, near to medium term looks Neutral to Bullish to me now.

DAX at 12163.01, -1.58% fell and broke below important support at 12300. While DAX trades below 12300, there may com a further decliner to 11800-11600 near term.

Nikkei at 22228.51, +0.11% is trading above 21800 Thursday, the mark is seen a good support. However, the 3-Day line suggests room on the Southside to 21600-21200 medium term. A fall below 21800 open up the path for a fall to 21600 or lower but on the other hand we may see a bounce in here.

Shanghai at 2720.02, -0.12% sank to 2700 on a gap open down Thursday. The benchmark Chinese index has bounced above 2700, a test to 2650 is seen near term, Shanghai looks weak to me.

Nifty at 11435.10, +0.70% now is trading at an important mark, where if the index faces rejection from 11500, it could come off, or break above 11500, if that happens this rally can run to 11600-11800 near term. But, now I see the resistance at 11500 holding and Nifty falling to 11300-11200 within the next 5 sessions. We will see…

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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