Morning Briefing Global Stocks

Morning Briefing Global Stocks

Morning Briefing Global Stocks

$DIA, $DAX, $DJSH, $N300, $NSEI

Commentary: Overall, equities look a little weak in here, with the exception of Shanghai. PE

DJIA at 21674.51 is below near term support at 21800, increasing the chances of a deeper dip to 21500-250 in the last weeks of August.

Also, a further decline is seen in Nikkei at 19382, -0.45%)raising the chances of a test of 19000 this month.

The Dow and Nikkei look Bearish.

DAX at 12165, -0.31% looks ranged between 12000-12500, as I said Friday.

The Shanghai at 3272, +0.11% still looks Bullish off of last Friday’s reading, but a clear break above 3300 is needed in order to drive it into new Bullish territory. Watch it.

The Nifty at 9837.40, -0.70% dip to 9800 Friday and we need to see if it drops to 9700 or not. There are growing chances that the GST implementation could lead to near-term negative impact on India’s economy, resulting in deeper decline towards 9500.

In South Korea, the KOSPI at 2355 could be in line for a fresh decliner to 2300.

Have a terrific week.

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