Stock markets around the globe are showing strong signs of rebound and fading risk aversion, so further actions from ECB next week and this week's non-farm payroll data could further fuel this trend.

S&P 500 - We have remained bearish in S&P 500. While some of our targets got reached, final target of 1740 area couldn't get achieved in the current bear run. It clearly seems, with bulls not ready to give up that bears might have to wait again for fundamentals to play out. Moreover China has taken up actions to ease economy and reduce volatility. If ECB do take actions, convincing enough, US benchmark might move beyond 2000 mark and target 2100 area.

FTSE100 - FTSE 100 reached many a target while dropping to 5500 area but failed to reach anticipated 5200 area. Now it is back challenging key resistance area around 6160. While Brexit possibility is a big risk hanging over FTSE, ECB actions could push it even higher.

EuroStxx50 - European Bourses have most to gain from ECB actions. Decisive ECB actions might push EuroStxx50 to as high as 3400 area. However we still remains bearish in the longer horizon.

Nikkei 225 - Nikkei is under pressure due to its exposure towards Chinese economy. Stronger Yen is also taking its toll on exporters' advantage. However global optimism might push the index higher towards 19000 area.