In today’s briefing:
- Nikkei and Nifty Shorts Hitting Bear Targets
Nikkei and Nifty Shorts Hitting Bear Targets
- Japan became a top laggard short bet above 28,000 given our call for a domino roll. Nikkei 26,900 was our initial downside target with a primary target of 26,000.
- India’s short from 18,000 is meeting the overshoot target at 17,100 with 16,800 a level to cover if not look for a tradable bounce. 17,700-800 is fresh sell resistance.
- SPX weakness was the call from March 6-20 so we may be seeing up for some recovery actvity in Asia after the 20th but will face headwinds come June.
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