Critical week

This is a critical week for global indices... I believe that we may have seen the bottom for most global indices in March. All of the indices have rallied from the March lows. Right now, the bulls are fighting to regain the upper hand. Most indices are fighting to regain the 100-day SMA and 200-day SMAs. Breaching these levels usually means that it is bullish or bearish in the medium term. Breaking above these levels would signal that the medium term uptrend has resumed while breaking below these levels would signal more downside in the medium term. Right now, all are on the verge of breaching 'above' and hence it could be very positive. However, looking at the short term momentum - the breach is unlike to happen just yet.. global indices may pullback a tad before it can rally past these difficult resistances. So, be prepared for a pullback.