S & P 500 - S&P500 continues to make new 52 week highs. However, its uptrend may be losing its momentum. We prefer to follow the uptrend with some trend tracking stop loss from here. A decisive move below 1295 may lead to weakness in the trend.

BOVESPA - The short term trend in Bovespa is weak and can produce some more decline. Next support to watch out is 64000 followed by 62500.

Shanghai SE Composite - SSE crossed 2800 level and has gained some short term strength. The continuing uptrend can see it come closer to 2870 and beyond. Support is expected to come around 2750 levels which is its 200 DMA.

Hang Seng - The HSI is in a downtrend and support could come at 22400 which is also its 200 DMA. Only a break below this level can lead to further acceleration of the downtrend.

Nikkei - The Nikkei still looks good for higher levels. Upside levels to watch out are 10700 and 10800. The overall trend of recovery remains in force and good support will come around 10500.

FTSE - The FTSE remains sideways but with a hesitant note. We do not see this as much of a strength. Good support will come at 5970 level.

MSCI - EMI - The MSCI EMI continues being weak and can see further declines closer to 1075 level. The downtrend is looking quite strong and a move below 1070 can drag the index further.