Dow Jones Industrial Average - This old economy benchmark index measures the outlook on the  New York stock exchange. Last week we advocated that the Dow Jones index was pointing to a rally after strong employment data lead to a belief that the economy was turning around. The 9700 mark was predicted to be a short term trend determinator for the index. Though the Dow Jones index has not manage to close above the 9700 mark, the levels reached during the week have been the highest since June 14, 2002 - a 16 month high. Once a conslusive close above 9985 is achieved, expect the next level to be 9985.

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. Last week, we had predicted that the Nasdaq was appearing stronger than the Dow Jones Index and was slated to gain upward momentum once a close above 1925 was achieved. The Nasdaq has closed marginally lower than the 1925 levels and a minor confirmatory rally is all that is needed to signal a stronger upward momentum. The levels of 1968 and 2108 will be the next upward target in the near term. On the lower side, expect support at the 1838 levels. Our outlook is bullish for the Nasdaq.

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. Last week we predicted selling at 4420 levels which were not reached as the 4330 resistance was not surpassed. Once the 4330 levels are surpassed, expect the 4460 to be a distinct possibility. The outlook appears bullish and downward support exists at the 4200 levels.

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