Dow Jones Industrial Average - This old economy benchmark index measures the outlook on the  New York stock exchange. The  index had been making  higher  tops and  bottoms  and  the  move was supported  by  the  oscillators. After the Federal reserve meeting, the markets are cooling off, and likely to seek levels of 8800. Should  the markets remain firm however, expect 9261 & 9352 as the  next inflection points, after due corrections. 

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 is  making a saucer  formation  which is  supported by  the  oscillators. Since the last fortnight, we predicted that the 1680 levels were a  crucial  resistance level being the  previous highs. The  index  has indeed flared higher above this resistance !! Watch this resistance level  closely as the violated resistance is now a support on the downside. As was accurately predicted by us last week, above a convincing close of 1685 for 2-3 sessions, expect the Nasdaq to see 1725 - 1730 levels by the weekend. The Nasdaq has indeed closed at the 1734 levels !! We also said that it will have a positive impact for the domestic software counters too, as was seen in the last weeks trades. Watch the 1785 levels on the Nasdaq for fresh selling points. The Nasdaq is likely to out-perform the Dow Jones Industrial average.

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 4280 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.