S&P 500: S&P500 slipped last week and is in a short term downtrend at current levels. The coming week may see this index coming close to its support of 1270.

BOVESPA: We had mentioned last week that BOVESPA will show an upward momentum above 68100. Such a move did not happen last week. On the contrary, it has weakened below 66200 thereby making the short term trend weak.

Shanghai SE Composite: SSE successfully conquered the level of 2950 in last weeks trade. By doing so the short term trend remains up as long as it stays above the level of 2925. The subdued trend in the SSE is likely to continue.

Hang Seng: Last week, the HSI attempted a high of 23934 before facing resistance around 24000. Till the level of 2400 is breached on the upside, the index may continue to trade in a trading range of 24000 and 22700. It is a wait and watch for the coming week.

Nikkei: Nikkei slipped last week and is currently trading below the important support level of 10450. Further weakness can be expected.

FTSE: FTSE fell last week after failing to sustain above our referred level of 6000. The technical structure has further deteriorated below the level of 5975 which can result in this index declining further closer to 5800.

MSCI - EMI: MSCI EMI met our upside target of 1140 and has been on a downward spiral since. If the support of 1100 is held in the coming week, there is a good chance for this index to reattempt last weeks high closer to 1140.