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: Global stocks do not look very strong in here, as they could see rejections from resistances  above current marks, consolidation is preferred in here. PE

Notes: The S&P 500 advanced 0.3% Friday, posting a weekly gainer of 0.6%, helped by a report that Chinese and US negotiators are planning talks to try to end their trade disagreement ahead of multilateral meetings between US President Trump and President Xi in November. The DIA added 0.4% Friday, the NAS Comp + 0.1%.

Friday’s gains were broad-based, with all 11 S&P sectors closing in the Green. The industrials (+0.6%), materials (+0.7%), consumer staples (+0.7%), and real estate (+1.0%) sectors were the top performers, while consumer discretionary (+0.1%), financials (+0.2%), and technology (+0.2%) finished at the back of the pack.

In Asia Monday

DJIA at 25669.32, +0.43% moved up to again test 1st resistance at 25750. If the resistance holds, a fall back to 25500 is possible, or else a run above 25750 signals Bullishness to 26000-26800 medium term.

DAX at 12210.55, -0.22%, and while it trades below 12300 it can test to 12000.

Nikkei at 22226.45, -0.20% is trading higher after bouncing from 21850. Range trade within 22800-21850 seen for a few weeks. A break on either side is needed to confirm Nikkei’s direction.

Shanghai at 2680.87, +0.45% looks weak, 1st support is seen at 2650. Overall weakness is visible now and for the foreseeable future. Range trade within 2750-2650 could continue through this week.

Nifty at 11470.75, +0.75% seeing resistance at 11,500. A clear break above that mark may bring on a rise to 11600-11800 medium term; a fall from here could lead to some consolidation under 11500, then a fall to 11300-11200.

Have a terrific week

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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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