|
Indicator
|
Weekly
Level / Change
|
Implication
for
S
& P 500
|
Implication
for Nifty*
|
|
S
& P 500
|
2036, -0.67%
|
Bearish
|
Bearish
|
|
Nifty
|
7717, 1.47%
|
Neutral**
|
Bullish
|
|
China
Shanghai Index
|
2961, 0.20%
|
Neutral
|
Neutral
|
|
Gold
|
1217, -3.13%
|
Bearish
|
Bearish
|
|
WTIC
Crude
|
39.59, -3.74%
|
Bearish
|
Bearish
|
|
Copper
|
2.24, -2.10%
|
Bearish
|
Bearish
|
|
Baltic
Dry Index
|
401, 2.30%
|
Bullish
|
Bullish
|
|
Euro
|
1.117, -0.86%
|
Bearish
|
Bearish
|
|
Dollar/Yen
|
112.86, 1.19%
|
Bullish
|
Bullish
|
|
Dow
Transports
|
7926, -1.85%
|
Bearish
|
Bearish
|
|
High
Yield (ETF)
|
34.15, -1.13%
|
Bearish
|
Bearish
|
|
US
10 year Bond Yield
|
1.90%, 1.55%
|
Bearish
|
Bearish
|
|
Nyse
Summation Index
|
990, 7.97%
|
Bullish
|
Neutral
|
|
US
Vix
|
14.74, 5.14%
|
Bearish
|
Bearish
|
|
20
DMA, S and P 500
|
2007, Above
|
Bullish
|
Neutral
|
|
50
DMA, S and P 500
|
1941, Above
|
Bullish
|
Neutral
|
|
200
DMA, S and P 500
|
2017, Above
|
Bullish
|
Neutral
|
|
20
DMA, Nifty
|
7416, Above
|
Neutral
|
Bullish
|
|
50
DMA, Nifty
|
7364, Above
|
Neutral
|
Bullish
|
|
200
DMA, Nifty
|
7902, Below
|
Neutral
|
Bearish
|
|
India
Vix
|
16.34, -0.23%
|
Neutral
|
Neutral
|
|
Dollar/Rupee
|
66.92, 0.80%
|
Neutral
|
Bearish
|
|
Overall
|
S
& P 500
|
Nifty
|
|
|
Bullish
Indications
|
6
|
5
|
|
|
Bearish
Indications
|
9
|
11
|
|
|
Outlook
|
Bearish
|
Bearish
|
|
|
Observation
|
The
Sand P 500 fell and the Nifty rallied last week. Indicators are bearish.
Markets
are back at resistance. Time to tighten those stops as downside may resume
any moment.
|
||
|
On
the Horizon
|
China
– PMI, Euro Zone - CPI, German CPI, German employment data, U.S – Trade
balance, Personal consumption expenditure, Consumer confidence, Employment
data, ISM, Canada - 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 fell and the Nifty rallied in a holiday shortened week. Signals are bearish
for the upcoming week. The markets are back at resistance and are likely to continue
major breakdowns in 2016 as the recent rally has almost concluded. A big move
is imminent. The critical levels to watch are 2050 (up) and 2030 (down)
on the S & P and 7750 (up) and 7650 (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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