Dow Jones Industrial Average - this NYSE index is moving in a downward sloping channel and encounters resistance at the 10,200 - 10260 range. Any re-test of the 10,000 levels will see a faster fall as the psychological level is also a major threshold for the bulls to watch.

Your call of action - this is a pure academic study.

Nasdaq - the Nasdaq is moving in the bearish channel and encounters resistance at the short term averages at the 1960 - 1980 levels. Any sustained upmove above this level will be sign of a short term rally to the 2030 mark ( low probability event ). A fall below the 1900 levels will be a sign of accelerated weakness.

Your call of action - this is a pure academic study.

FTSE - the FTSE like the US indices has traded within a channel and moved below the bearish channel to exhibit a weak chart pattern. The momentum oscillators are showing a possibility of a pullback and a corrective rally that could test the 4900 - 4915 levels. Watch the 4800 levels for support in the coming week.

Your call of action - this is a pure academic study.