Indicator
|
Weekly
Level / Change / Significance
|
Implication
for
S
& P 500
|
Implication
for Nifty*
|
S
& P 500
|
1880, -2.17%
|
Bearish
|
Bearish
|
Nifty
|
7438, -2.15%
|
Neutral**
|
Bearish
|
China
Shanghai Index
|
2901, -8.96%
|
Bearish
|
Bearish
|
Gold
|
1089, -1.40%
|
Bearish
|
Bearish
|
WTIC
Crude
|
30.68, -6.69%
|
Bearish
|
Bearish
|
Copper
|
1.95, -3.30%
|
Bearish
|
Bearish
|
Baltic
Dry Index
|
373, -13.05%
|
Bearish
|
Bearish
|
Euro
|
1.086, -0.57%
|
Bearish
|
Bearish
|
Dollar/Yen
|
117.04, -0.34%
|
Neutral
|
Neutral
|
Dow
Transports
|
6689, -3.70%
|
Bearish
|
Bearish
|
High
Yield (ETF)
|
32.73, -2.24%
|
Bearish
|
Bearish
|
US
10 year Bond Yield
|
2.03%, -4.55%
|
Bullish
|
Bullish
|
Nyse
Summation Index
|
-535.44, -200.42%
|
Bearish
|
Neutral
|
US
Vix
|
27.02, 0.04%
|
Neutral
|
Neutral
|
20
DMA, S and P 500
|
1996, Below
|
Bearish
|
Neutral
|
50
DMA, S and P 500
|
2041, Below
|
Bearish
|
Neutral
|
200
DMA, S and P 500
|
2054, Below
|
Bearish
|
Neutral
|
20
DMA, Nifty
|
7743, Below
|
Neutral
|
Bearish
|
50
DMA, Nifty
|
7789, Below
|
Neutral
|
Bearish
|
200
DMA, Nifty
|
8142, Below
|
Neutral
|
Bearish
|
India
Vix
|
19.42, 9.09%
|
Neutral
|
Bearish
|
Dollar/Rupee
|
67.76, 1.30%
|
Bearish
|
Bearish
|
Overall
|
S
& P 500
|
Nifty
|
|
Bullish
Indications
|
1
|
1
|
|
Bearish
Indications
|
15
|
17
|
|
Outlook
|
Bearish
|
Bearish
|
|
Observation
|
The
Sand P 500 and the Nifty were down hard last week. Indicators are bearish but
the market is becoming oversold. Looking for downside to continue after an
oversold bounce.
|
||
On
the Horizon
|
Canada – Rate decision, CPI, New
Zealand – CPI, Euro zone – German ZEW survey, Rate decision U.K – CPI, U.S – CPI,
China – 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 and Nifty fell hard last week. Signals are bearish for the upcoming
week. The markets are in crash mode and are likely to continue major breakdowns
in 2016 after an oversold bounce. The critical levels to watch are 1900
(up) and 1860 (down) on the S & P and 7500 (up) and 7400 (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
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