|
Indicator
|
Weekly
Level / Change / Significance
|
Implication
for
S
& P 500
|
Implication
for Nifty*
|
|
S
& P 500
|
1907, 1.41%
|
Bullish
|
Bullish
|
|
Nifty
|
7422, -0.21%
|
Neutral**
|
Neutral
|
|
China
Shanghai Index
|
2917, 0.54%
|
Bullish
|
Bullish
|
|
Gold
|
1098, 0.88%
|
Bullish
|
Bullish
|
|
WTIC
Crude
|
32.25, 5.12%
|
Bullish
|
Bullish
|
|
Copper
|
2.00, 2.80%
|
Bullish
|
Bullish
|
|
Baltic
Dry Index
|
354, -5.09%
|
Bearish
|
Bearish
|
|
Euro
|
1.087, -0.37%
|
Neutral
|
Neutral
|
|
Dollar/Yen
|
118.78, 1.48%
|
Bullish
|
Bullish
|
|
Dow
Transports
|
6779, 1.34%
|
Bullish
|
Bullish
|
|
High
Yield (ETF)
|
32.96, 0.70%
|
Bullish
|
Bullish
|
|
US
10 year Bond Yield
|
2.05%, 0.74%
|
Bearish
|
Bearish
|
|
Nyse
Summation Index
|
-770, -43.79%
|
Bearish
|
Neutral
|
|
US
Vix
|
22.34, -17.32%
|
Bullish
|
Bullish
|
|
20
DMA, S and P 500
|
1966, Below
|
Bearish
|
Neutral
|
|
50
DMA, S and P 500
|
2023, Below
|
Bearish
|
Neutral
|
|
200
DMA, S and P 500
|
2051, Below
|
Bearish
|
Neutral
|
|
20
DMA, Nifty
|
7627, Below
|
Neutral
|
Bearish
|
|
50
DMA, Nifty
|
7732, Below
|
Neutral
|
Bearish
|
|
200
DMA, Nifty
|
8113, Below
|
Neutral
|
Bearish
|
|
India
Vix
|
18.82, -3.06%
|
Neutral
|
Bullish
|
|
Dollar/Rupee
|
67.58, -0.27%
|
Neutral
|
Neutral
|
|
Overall
|
S
& P 500
|
Nifty
|
|
|
Bullish
Indications
|
9
|
10
|
|
|
Bearish
Indications
|
6
|
5
|
|
|
Outlook
|
Bullish
|
Bullish
|
|
|
Observation
|
The
Sand P 500 and the Nifty were down early last week but recovered to post
gains later in the week. Indicators are bullish. Looking for the oversold
bounce to continue till FED day.
|
||
|
On
the Horizon
|
Australia– CPI, Canada – GDP, Japan- CPI, New Zealand – Rate
decision, Euro zone – German and Euro CPI, U.K – GDP, U.S – Consumer
Confidence, FOMC rate decision, Durable goods, trade balance, 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 recovered last week. Signals are bullish for the upcoming
week. The markets are in crash mode and are likely to continue major breakdowns
in 2016 after this oversold bounce that should last till FED day. The
critical levels to watch are 1920 (up) and 1880 (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 S and P 500 and Nifty Indices. Love your thoughts and feedback.
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