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Dow Jones Industrial Average - This old economy benchmark index measures the outlook on the  New York stock exchange. Last week we had advocated resistance at the 10,300 - 10,400 levels. The Dow Jones has almost seen 10300 levels and has room for a fresh 200 point upmove. Expect the 10,000 levels to be a good short term base for this index in the near term.

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. This index has made a new 22 month high recently and has been advocated by us as making a saucer formation. The relative strength of this index is turning lower than that of the Dow. Last week, we forecast that the 1900 levels will be a  short term support for the markets. The Nasdaq saw weekly lows of 1902 !!. On the upsides, expect resistance at the 1995 levels. Only above the 2000 mark, will the index show any signs of revival. The outlook has turned positive after Saddam's capture and improved employment data.

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. As we have been forecasting a 4460 level resistance, this index is unable to surpass that point on a closing basis and show any short term strength. The support is at the 4300 levels. Our outlook is positive for this index as the oscillators are pointing towards an upmove. Expect the rally to see 4600 levels.

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