|
Indicator
|
Weekly
Level / Change
|
Implication
for
S
& P 500
|
Implication
for Nifty*
|
|
S
& P 500
|
2048, -1.21%
|
Bearish
|
Bearish
|
|
Nifty
|
7555, -2.05%
|
Neutral**
|
Bearish
|
|
China
Shanghai Index
|
2985, -0.82%
|
Bearish
|
Bearish
|
|
Gold
|
1240, 1.35%
|
Bullish
|
Bullish
|
|
WTIC
Crude
|
39.66, 8.27%
|
Bullish
|
Bullish
|
|
Copper
|
2.09, -3.83%
|
Bearish
|
Bearish
|
|
Baltic
Dry Index
|
539, 19.78%
|
Bullish
|
Bullish
|
|
Euro
|
1.138, 0.19%
|
Neutral
|
Neutral
|
|
Dollar/Yen
|
108.09, -3.16%
|
Bearish
|
Bearish
|
|
Dow
Transports
|
7736, -1.92%
|
Bearish
|
Bearish
|
|
High
Yield (ETF)
|
34.14, 0.00%
|
Neutral
|
Neutral
|
|
US
10 year Bond Yield
|
1.72%, -4.02%
|
Bullish
|
Bullish
|
|
Nyse
Summation Index
|
941, -12.54%
|
Bearish
|
Neutral
|
|
US
Vix
|
15.36, 17.25%
|
Bearish
|
Bearish
|
|
20
DMA, S and P 500
|
2045, Above
|
Bullish
|
Neutral
|
|
50
DMA, S and P 500
|
1975, Above
|
Bullish
|
Neutral
|
|
200
DMA, S and P 500
|
2014, Above
|
Bullish
|
Neutral
|
|
20
DMA, Nifty
|
7611, Below
|
Neutral
|
Bearish
|
|
50
DMA, Nifty
|
7408, Above
|
Neutral
|
Bullish
|
|
200
DMA, Nifty
|
7882, Below
|
Neutral
|
Bearish
|
|
India
Vix
|
16.43, -4.89%
|
Neutral
|
Bullish
|
|
Dollar/Rupee
|
66.54, 0.47%
|
Neutral
|
Neutral
|
|
Overall
|
S
& P 500
|
Nifty
|
|
|
Bullish
Indications
|
7
|
6
|
|
|
Bearish
Indications
|
7
|
9
|
|
|
Outlook
|
Neutral
|
Bearish
|
|
|
Observation
|
The
Sand P 500 and the Nifty sold off last week. Indicators are mixed.
Markets
are back at resistance. Time to tighten those stops as downside has resumed.
|
||
|
On
the Horizon
|
China
- Financing & Loan data, CPI, GDP, Australia – Employment data, U.K –
CPI, Rate decision, U.S –Retail sales, CPI, Consumer confidence, Canada – Rate
decision
|
||
|
*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 the Nifty fell hard last week. Signals are mixed for the upcoming
week. Transports are diverging and the Vix is suggesting complacency. The Yen
is suggesting that global risk appetite is waning significantly. The markets
are back at resistance and are likely to continue major breakdowns in 2016 as
the recent rally has concluded. A big move is imminent. The critical
levels to watch are 2060 (up) and 2040 (down) on the S & P and 7650 (up)
and 7450 (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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