|
Indicator
|
Weekly
Level / Change
|
Implication
for
S
& P 500
|
Implication
for Nifty*
|
|
S
& P 500
|
2183, 0.43%
|
Neutral
|
Neutral
|
|
Nifty
|
8683, 0.52%
|
Neutral**
|
Bullish
|
|
China
Shanghai Index
|
2977, -0.09%
|
Neutral
|
Neutral
|
|
Gold
|
1344, -0.99%
|
Bearish
|
Bearish
|
|
WTIC
Crude
|
41.80, 0.48%
|
Neutral
|
Neutral
|
|
Copper
|
2.15, -3.04%
|
Bearish
|
Bearish
|
|
Baltic
Dry Index
|
636, -3.05%
|
Bearish
|
Bearish
|
|
Euro
|
1.109, -0.77%
|
Bearish
|
Bearish
|
|
Dollar/Yen
|
101.79, -0.24%
|
Neutral
|
Neutral
|
|
Dow
Transports
|
7867, 0.26%
|
Neutral
|
Neutral
|
|
High
Yield (ETF)
|
36.04, 0.47%
|
Neutral
|
Neutral
|
|
US
10 year Bond Yield
|
1.58%, 8.50%
|
Bearish
|
Bearish
|
|
Nyse
Summation Index
|
1103, -10.23%
|
Bearish
|
Neutral
|
|
US
Vix
|
11.39, -4.04%
|
Bullish
|
Bullish
|
|
20
DMA, S and P 500
|
2165, Above
|
Bullish
|
Neutral
|
|
50
DMA, S and P 500
|
2119, Above
|
Bullish
|
Neutral
|
|
200
DMA, S and P 500
|
2045, Above
|
Bullish
|
Neutral
|
|
20
DMA, Nifty
|
8573, Above
|
Neutral
|
Bullish
|
|
50
DMA, Nifty
|
8357, Above
|
Neutral
|
Bullish
|
|
200
DMA, Nifty
|
7857, Above
|
Neutral
|
Bullish
|
|
India
Vix
|
14.35, -3.79%
|
Neutral
|
Bullish
|
|
Dollar/Rupee
|
66.84, 0.18%
|
Neutral
|
Neutral
|
|
Overall
|
S
& P 500
|
Nifty
|
|
|
Bullish
Indications
|
4
|
6
|
|
|
Bearish
Indications
|
6
|
5
|
|
|
Outlook
|
Bearish
|
Bullish
|
|
|
Observation
|
The
S and P 500 and the Nifty were up slightly last week. Indicators are mixed.
Markets
are at resistance. Time to tighten those stops.
|
||
|
On
the Horizon
|
China
– CPI, Financing and loan data, India – RBI rate decision,
New
Zealand – Rate decision, Euro Zone – German CPI, Italy, German and Euro zone
GDP,
US
– Retail sales, U. Mich. consumer confidence 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 S and
P 500 and the Nifty were up slightly last week. Signals are mixed for the
upcoming week. The Vix is suggesting complacency despite the market making
nominal new highs. The markets are
likely to continue major breakdowns in 2016 after this rally concludes. The
critical levels to watch are 2190 (up) and 2170 (down) on the S & P and 8750
(up) and 8550 (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.
No comments:
Post a Comment