Japanese stock are higher to start the week in the aftermath of a strong gain on Wall Street Friday. In addition, Japanese Q1 GDP growth was revised to -0.2% from -0.7% in a decent signal for the economy.

Technically, the 38,500 level has proven to be a tough nut to crack as it’s failed around there the past three times its been there. If it can get above that level, then it can run but I don’t see any incentive to buy it until it does.

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