|
Indicator
|
Weekly
Level / Change
|
Implication
for
S
& P 500
|
Implication
for Nifty*
|
|
S
& P 500
|
2103, 3.22%
|
Bullish
|
Bullish
|
|
Nifty
|
8328, 2.96%
|
Neutral**
|
Bullish
|
|
China
Shanghai Index
|
2933, 2.74%
|
Bullish
|
Bullish
|
|
Gold
|
1345, 1.96%
|
Bullish
|
Bullish
|
|
WTIC
Crude
|
49.28, 3.59%
|
Bullish
|
Bullish
|
|
Copper
|
2.22, 4.89%
|
Bullish
|
Bullish
|
|
Baltic
Dry Index
|
677, 11.17%
|
Bullish
|
Bullish
|
|
Euro
|
1.110, -0.22%
|
Neutral
|
Neutral
|
|
Dollar/Yen
|
102.58, 0.43%
|
Neutral
|
Neutral
|
|
Dow
Transports
|
7558, 3.24%
|
Bullish
|
Bullish
|
|
High
Yield (ETF)
|
35.53, 1.76%
|
Bullish
|
Bullish
|
|
US
10 year Bond Yield
|
1.46%, -7.79%
|
Bullish
|
Bullish
|
|
Nyse
Summation Index
|
815, 5.59%
|
Bullish
|
Neutral
|
|
US
Vix
|
14.77, -42.66%
|
Bullish
|
Bullish
|
|
20
DMA, S and P 500
|
2082, Above
|
Bullish
|
Neutral
|
|
50
DMA, S and P 500
|
2077, Above
|
Bullish
|
Neutral
|
|
200
DMA, S and P 500
|
2023, Above
|
Bullish
|
Neutral
|
|
20
DMA, Nifty
|
8196, Above
|
Neutral
|
Bullish
|
|
50
DMA, Nifty
|
8024, Above
|
Neutral
|
Bullish
|
|
200
DMA, Nifty
|
7788, Above
|
Neutral
|
Bullish
|
|
India
Vix
|
15.74, -15.51%
|
Neutral
|
Bullish
|
|
Dollar/Rupee
|
67.19, -1.04%
|
Neutral
|
Bullish
|
|
Overall
|
S
& P 500
|
Nifty
|
|
|
Bullish
Indications
|
14
|
16
|
|
|
Bearish
Indications
|
0
|
0
|
|
|
Outlook
|
Bullish
|
Bullish
|
|
|
Observation
|
The
Sand P 500 and the Nifty rallied last week. Indicators are overly bullish.
Markets
are challenging resistance again. Time to tighten those stops.
|
||
|
On
the Horizon
|
Australia
– Rate decision, England – BOE financial stability report,
U.S
– ISM, Employment data, Canada – Employment data
|
||
|
*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 Sand
P 500 and the Nifty rallied last week. Signals are at bullish extremes for the
upcoming week. The Vix is suggesting complacency. The markets are back at resistance
and are likely to continue major breakdowns in 2016 after this rally concludes.
The critical levels to watch are 2110 (up) and 2090 (down) on the S & P and
8400 (up) and 8250 (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 support
and resistance levels of the S
and P 500 and Nifty Indices. Love
your thoughts and feedback.
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