Based on friday 15th Jan 2010 data i feel long would be better poised if dowjones opens and trades above 10596. I expect 10661 and 10700 if  lows dont breach 10596 intraday.

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The Pharmaceutical industry has always been ruled by a selected number of ‘kings’, but now things are changing. New entrants are severely shaking their R & D models. Survival strategy - Instead of competing with them in research & development, the top 20 pharmaceutical companies are outsourcing the legwork to the new-borns. Not only to save around $7.5 billion annually (pharmaceutical industry) on an average, but also to save on the opportunity cost of generics replicating their formulas and selling products at huge discounts.

Based on friday 13 Nov data i feel long should hold upperhand on monday. I expect market to move to 10350 if low for the day comes at 10243. Level of  10230  should not be broken  for bulls. Near short term expecting Dow to move to 10627 first and a fall or retrace to 9900 levels.

               9770 acts as pivotal level.              Bears: Break of Dow jones below 9710-15 can lead  to 9650. 9710-15 can act as a bouncing place till 9755. Major resistance is at 9755-60 levels.             Bulls: Above 9775 can have some chance to move up, 9805 is safer on up for 9860-70 levels

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I though Iwould pass this trading trend. The dollar strengthens at the end of the month and then reverses the first week of the month.  Whether this trend continues remains to be seen.  We will find out next week.