World markets - A long term view

Please read the post on 02nd December 2011 before reading the post for a better understanding

1. DOW - One of the major indices in the world which gave decent performance in 2011.It is close to the upside cap mentioned in the previous post ie; 12600 levels.The view would be range bound with a negative view only below 11200 levels.

2. DAX - There is a slight chance of recovery but the confirmation of the up move will come only above 6500 where the recent top is placed.In the short term there is a higher bottom formation and if there is a recovery in the European markets this would be recovering at a faster rate.

3. FTSE - As compared to Dow jones and DAX, this would be the weakest market among the three.
I had mentioned about the prevailing bear market in FTSE in the previous post too.One good argument for a bullish turn around would be the double bottom formed around 4900. The confirmation of any up move can be confirmed only above 5900 levels.