Morning Briefing Global Stocks
Commentary: World equities on the defensive. PE
The DJIA at 21858, +0.07% was quiet Friday after the fall from 22000 over the week, it can test trendline support near 21700 this week.
The Nikkei at 19546, -0.84% opened sharply gap-down MOnday, possibly making up for the Japanese holiday last Friday. This opens up chances of further dip to 19400, putting the uptrend since 15000 June-2016 in danger.
Support at 3200 is holding on the Shanghai at 3221, +0.4%, but a dip to stronger support at 3100 is possible if the Key support at 3200 breaks.
The under-performance in the Nifty at 9710.80, – 1.1% could give way to more pronounced Bearishness at 9500 or even lower.
Have a terrific week
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