S&P 500 continues to be in a consolidation mode and has been moving sideways. Failure to breach 1360 may see it test 1320 or lower in the coming week. A move above 1360 will lead to positive development in the short term.

Bovespa behaved in line with our anticipated view. It is currently trading near the support of 62300 below which it can slip further to 61000. On the upside, only a decisive move above 64000 will warrant a trend change.

Last week, SSE again bounced back from around 2800 which is its 200 DMA. As of now, this index may continue to consolidate in a trading range.

Hang Seng continues with its sideways negative move. Although its trend continues to be down, its move may be tiring at lower levels. Presently it is trading at 22990 which is a 200DMA. An upmove above 23500 could trigger a trend change.

Nikkei is continuing to consolidate as per our projected view. A breakout above 750 may result in further upsides till 9900. Support on the downside will come at 9500. However, the possibility of the consolidation extending further in time cannot be ruled out.

FTSE moved sideways with a neutral bias last week. Going forward, 6050 remains an area of resistance. If this level is not breached, then it can test support around 5800 in the coming week. A breakout above 6050 could result in a sustainable upmove till 6100 or beyond.

MSCI EMI bounced from the lows of 1130 last week. Its short term downtrend is still intact and it may face resistance on rallies closer to 1175. Strong support will come in the range of 1120-1130.