Equities Update

Indicies still in bull channels, but are looking more and more fragile. Friday good for US stocks despite weak housing figures.
Nikkei posted biggest drop in 10 weeks breaking important support level at 15890. Topix fell 2.5%. Bad earnings sparked the downside reaction.
Look for a drop in indicies today after Trichet’s comments and higher German PPI. No important releases today.
Short DAX – intraday.