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.