Dow Jones Industrial Average - This old economy benchmark index measures the outlook on the  New York stock exchange.  On the lower side, the absolute short term support is at the 8925 levels. As per our analysis, the Dow average been unable to surpass the congestion levels for the 10 th week in a row. This is a sign of weakness. Expect resistance at the 9280 and 9400 in the coming week/s. Only after a breakout above these levels is achieved, will a sustainable upmove commence.

Your call  of  action - Since Indian investors are not allowed to trade in overseas markets, this  is  a  pure academic study.

Nasdaq - This new economy benchmark index measures the outlook on the Nasdaq exchange. The index has violated the short term averages and fallen with a gap. This signals weakness in the domestic software stocks too. We expect immediate support at the 1610 levels and a possible bounce-back as the oscillators are oversold. However, that should not construed as an end to the bearishness. Should the Nasdaq close below the 1598 levels, expect further bearishness.

Your  call  of  action - Since Indian investors are not allowed  to  trade in  overseas markets, this is  a  pure academic study. 

FTSE - This index measures the outlook on the London stock exchange. The  index has been making higher bottoms  and tops on the  weekly charts. Last week, we observed that the index has been unable to surpass the downward sloping channel. That resistance point is 4220 which the FTSE must surpass. In the coming week, our investors must watch these levels. On the downside, the support to watch would be 3890 levels.

Your  call  of  action - Since  Indian  investors  are  not  allowed  to  trade  in  overseas  markets, this  is  a  pure  academic  study.