Dow Jones Industrial Average - Last week we had advocated that the Dow had broken out of a channel which is also a flag formation. The 10640 levels will be an immediate resistance, above which the 10800 levels maybe likely. Downside support exists at the 10390 levels in the coming week. The US markets are gearing up for Christmas and the shopping season will determine the consumer buying preferences and state of the US economy.

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

Nasdaq - The technology laden Nasdaq is showing similar signs of a breakout like the Dow Jones above and is likely to find support at the 2034 levels on the downside. Resistance at the higher levels is likely at the 2165 levels. A breakout above the 2115 levels will be a positive trigger 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 - The FTSE is under performing the USA markets and is likely to consolidate as long as a breakout above the 4820 levels are not sustained. Lower levels will see support at the 4650 levels and the FTSE should not fall below this level if the outlook is to remain bullish.

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