Dow Jones Industrial Average - This old economy benchmark index measures the outlook on the  New York stock exchange. Last week we advocated that should the Dow manage to close above the 9500 mark for a few consecutive sessions, we expect a 200 point run upwards to be a possibility. That has proved to be prophetic as the index has closed at 9646. The Dow is trading at near May 2003 highs which is a sign of strength in addition to the breakout from the trendline resistance. One can expect to see 9800 levels this week - barring unforeseen circumstances. On the downsides, expect support at the 9280 levels.

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 accurately advocated that the worst seems to be over for this index as it has cleared a short term congestion and attempted to make a new high.  The index has hit 17 month highs and has boosted the domestic tech stocks which are now trading above their 200 day SMA's. It is crucial that the Nasdaq trade higher than the 1852 levels consistently to signal a fresh run upwards. The next resistance will come at the 1945 and 1963 levels. On the lower side, expect support at the 1815 and then the 1788 levels.

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 resistance on the upsides would come at the 4300 levels, which has been proved accurate as the index saw a high of 4330 on a weekly high basis. It is crucial that this index close above the 4300 levels consistently to signal a sustained bullishness. In case the index moves higher, expect resistance at the 4465 levels and on the downside, expect support at the 4160 levels.

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