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Markets await a clear direction
A late charge by bulls helped key indices surpass crucial resistance levels. However, select momentum indicators are currently in a sell mode even while the trend is up. It seems that markets will remain directionless until a clear breakout in either direction appears.
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US, China seek common ground on climate change

The United States and China today pledged to work together to fight climate change and promote free trade as they set the stage for an era of closer cooperation between the Pacific giants. - US envoy meets Israeli PM in Mideast peace drive - Indian-American shortlisted in world technology network honour - US, China oppose a nuclear Iran: Clinton - SpiceJet sees healthy improvement in passenger traffic in July - Oil down on US worries, BP plunge - US markets mixed; Indian ADRs down The world"s largest developed and developing nations wrapped up two days of in-depth talks in Washington to chart out the future of their relationship, which President Barack Obama said would shape the 21st century. The two nations -- by far the biggest emitters of carbon blamed for global warming -- signed a memorandum putting the fight against climate change at the heart of their ties. While short on specifics, the two sides said they would put in place a committee on environmental cooperation aimed at smoothing the rocky path toward a new global treaty on climate change in Copenhagen in December. "Today"s agreement should send a clear signal that the United States and China are ready to work together on clean energy and climate change and sets the stage for what I hope will be many years of close cooperation," US Energy Secretary Steven Chu told a signing ceremony at the State Department. China"s State Councilor Dai Bingguo said that the United States and China "have important contributions to make" to contain climate change, which UN scientists forecast will put entire species at risk if unchecked.


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