David Fuller's view

India’s Mumbai Sensex Index (weekly & daily) has pushed further into new all-time high ground over the last seven days, in anticipation of next month’s general election result.  A close beneath 21,000 would be required to question medium-term upward scope.  

The USA’s DJ Transport Average reached a new all-time high today.  If this move is sustained and matched by a new high for the Dow Jones Industrial Average, it will represent a Dow Theory bullish reconfirmation.  

Europe’s DJ Euro STOXX 50 Index (weekly & daily) pushed to a new recovery high today and although short-term overbought, a close beneath 2900 would be required to offset medium-term upward scope.  This move has been confirmed by the DJ Euro Banks Index (weekly & daily) and a close beneath 140 would be required to delay higher scope beyond a short-term reaction and consolidation.