The S&P500 has been steady over the last week. The tendency to rise continues, but the pace is very dull. While the S&P500 stays above 1230, it can be considered as positive.

The Bovespa remains choppy and continues to trade above its 200 DMA (67181). The trend is showing a bounce as expected by us but overall conditions are likely to remain choppy.

The SSE is trading around its 200 DMA (2779). The trend is basically weak. While some choppiness is expected, the possibility of the index declining further is quite high.

The HSI remains in a choppy trend, as per our expectation. The bias is towards weakness at present. We expect the choppy drift to continue into the next week too.

The Nikkei trend remains basically positive but is losing short term momentum and may slow down a bit. A move below 10000 could be a negative development.

The FTSE has remained steady so far. The bias for the trend is positive and it can move up some more but a move below 5850 can mark weakness for the index.

The EMI has moved up during the week. It is now very near our target of 1150. The immediate bias is positive, but caution is required as the overall trend is yet to gain a directional thrust. A move below 1120 would suggest weakness.