A Week of Uncertainly In The US Markets Ahead!

Last week has been extremely encouraging as the Dow and the Nasdaq Composite rebounded from a dangerous support level. This week is going to be a week that is pretty uncertain, with no major new release to drive the markets, the Dow and the Nasdaq composite will once again be technically driven. The week looks slightly gloomy for the Dow as it looks like it will form yet another step in its staircase formation this week, however, we can certainly expect yet another new high from the Dow soon after the step has been formed. The Nasdaq composite is coming up against a strong 2500 resistance level which it once failed on 16 Jan 07. With important Nasdaq components like KLAC, CTSH and CSCO reporting earnings this week, their performance may well determine if the Nasdaq composite breaks the 2500 resistance level or not. For now, the Nasdaq composite remains in a neutral trend, the one it has been in since Nov 06.




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