vivek, just wanted to add something to your S&P 1260...
if you have access to Economic times, then in it's weekly monday special issue, in the last page, there's good nifty analysis for the gone & coming week; it really cuts the "noise" out...
one thing mentioned regularly in that article is the importance of Dow Jones' 11750 & 11000 level. Breakout on either side is needed to set the trend for global markets...
i respect this analyst's views from previous experience... let's see where things head to...