Indicator
|
Weekly
Level / Change / Significance
|
Implication
for
S
& P 500
|
Implication
for Nifty*
|
S
& P 500
|
2090, 0.05%
|
Neutral
|
Neutral
|
Nifty
|
7943, 1.10%
|
Neutral**
|
Bullish
|
China
Shanghai Index
|
3436, -5.35%
|
Bearish
|
Bearish
|
Gold
|
1056, -1.91%
|
Bearish
|
Bearish
|
WTIC
Crude
|
41.77, 0.75%
|
Bullish
|
Bullish
|
Copper
|
2.05, 0.69%
|
Bullish
|
Bullish
|
Baltic
Dry Index
|
581, 16.67%
|
Bullish
|
Bullish
|
Euro
|
1.0595, -0.50%
|
Bearish
|
Bearish
|
Dollar/Yen
|
122.83, 0.06%
|
Neutral
|
Neutral
|
Dow
Transports
|
8215, -1.04%
|
Bearish
|
Bearish
|
US
10 year Bond Yield
|
2.23%, -1.64%
|
Bullish
|
Bullish
|
Nyse
Summation Index
|
253, 32.59%
|
Bullish
|
Neutral
|
US
Vix
|
15.12, -2.26%
|
Bullish
|
Bullish
|
20
DMA, S and P 500
|
2081, Above
|
Bullish
|
Neutral
|
50
DMA, S and P 500
|
2029, Above
|
Bullish
|
Neutral
|
200
DMA, S and P 500
|
2065, Above
|
Bullish
|
Neutral
|
20
DMA, Nifty
|
7905, Above
|
Neutral
|
Bullish
|
50
DMA, Nifty
|
7997, Below
|
Neutral
|
Bearish
|
200
DMA, Nifty
|
8306, Below
|
Neutral
|
Bearish
|
India
Vix
|
16.73, 5.24%
|
Neutral
|
Bearish
|
Dollar/Rupee
|
66.91, 1.21%
|
Neutral
|
Bearish
|
Overall
|
S
& P 500
|
Nifty
|
|
Bullish
Indications
|
9
|
7
|
|
Bearish
Indications
|
4
|
8
|
|
Outlook
|
Bullish
|
Bearish
|
|
Observation
|
The
Sand P 500 and the Nifty were up last week. Indicators are bullish. Markets
are back at resistance and the Vix is signaling complacency. A major break
out is likely this week.
|
||
On
the Horizon
|
Australia
- Rate decision, Canada - Rate decision, Swiss – Retail sales, Euro zone –
German employment data, CPI & PPI, ECB rate decision, U.S – employment
data, India – Rate decision, GDP.
|
||
*Nifty
|
India’s
Benchmark Stock Market Index
|
||
Raw
Data
|
Courtesy
Google finance, Stock charts, FXCM
|
||
**Neutral
|
Changes less than 0.5% are considered
neutral
|
The US
market was up slightly and the Nifty rallied last week. Signals are mixed for
the upcoming week. The markets are back at resistance and are likely to correct
with most emerging markets, and commodities already breaking down on a strong
dollar and a hawkish FED. The critical levels to watch are 2100 (up) and
2065 (down) on the S & P and 8000 (up) and 7800 (down) on the Nifty. A
significant breach of the above levels could trigger the next big move in the above
markets. You can check out last week’s report for a comparison. You can also check out snapshots of
the S and P 500 and Nifty Indices. Love your thoughts and feedback.
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