Most of us must be confused on where the market intends to go. We are currently experiencing extreme market volatility and it's simply because the market is going sideways as of the moment. This has been causing a lot of reluctancy on whether to side with the Bulls or the Bears.

Last week's performance of the DJIA, specifically Monday and Tuesday, gave us a short-term basis and confirmation of where it is going. Based on the chart below, we now have a short-term up trend line. As our previous outlooks have stated, the DJIA is bound to move sideways to up.

Friday's market action hit the short-term trend line intraday. Should this trend line be strong enough, it will be supported next week and the up move will continue provided it breaks resistance levels 11,681 and 11,820.

Initial Support: 11,205 (trend line-based)

Second Support: 11,100 (previous trough)

Third Support : 11,000 (psychological)

NASDAQ continues its sideways to up move. Friday's intraday break of the short-term trend line is something for us to watch out for in the coming week. The trend should continue at the break of resistance at 2,353.

Initial Support: 2,300 (trend line-based)

Second Support: 2,252 (previous trough)

Third Support: 2,167 (previous trough)

S&P 500 is currently caught up between Bulls and Bears. There's still no clear direction to where it is going. Resistance is at 1,285

Initial support: 1,250 (trend line-based)

Second Support: 1,234 (previous trough)

Third Support: 1,200 (previous trough)