|
Indicator
|
Weekly
Level / Change
|
Implication
for
S
& P 500
|
Implication
for Nifty*
|
|
S
& P 500
|
2271, -0.15%
|
Neutral
|
Neutral
|
|
Nifty
|
8349, -0.61%
|
Neutral**
|
Bearish
|
|
China
Shanghai Index
|
3123, 0.33%
|
Neutral
|
Neutral
|
|
Gold
|
1205, 0.73%
|
Bullish
|
Bullish
|
|
WTIC
Crude
|
53.22, 1.62%
|
Bullish
|
Bullish
|
|
Copper
|
2.62, -2.42%
|
Bearish
|
Bearish
|
|
Baltic
Dry Index
|
925, 1.65%
|
Bullish
|
Bullish
|
|
Euro
|
1.070, 0.55%
|
Bullish
|
Bullish
|
|
Dollar/Yen
|
114.52, 0.02%
|
Neutral
|
Neutral
|
|
Dow
Transports
|
9225, 0.24%
|
Neutral
|
Neutral
|
|
High
Yield (ETF)
|
36.75, -0.08%
|
Neutral
|
Neutral
|
|
US
10 year Bond Yield
|
2.47%, 3.66%
|
Bearish
|
Bearish
|
|
Nyse
Summation Index
|
628, -2.58%
|
Bearish
|
Neutral
|
|
US
Vix
|
11.54, 2.76%
|
Bearish
|
Bearish
|
|
20
DMA, S and P 500
|
2265, Above
|
Bullish
|
Neutral
|
|
50
DMA, S and P 500
|
2233, Above
|
Bullish
|
Neutral
|
|
200
DMA, S and P 500
|
2150, Above
|
Bullish
|
Neutral
|
|
20
DMA, Nifty
|
8254, Above
|
Neutral
|
Bullish
|
|
50
DMA, Nifty
|
8170, Above
|
Neutral
|
Bullish
|
|
200
DMA, Nifty
|
8310, Above
|
Neutral
|
Bullish
|
|
India
Vix
|
15.79, 9.79%
|
Neutral
|
Bearish
|
|
Dollar/Rupee
|
68.09, -0.08%
|
Neutral
|
Neutral
|
|
Overall
|
S
& P 500
|
Nifty
|
|
|
Bullish
Indications
|
7
|
7
|
|
|
Bearish
Indications
|
4
|
5
|
|
|
Outlook
|
Bullish
|
Bullish
|
|
|
Observation
|
The
S and P 500 was unchanged and the Nifty fell last week. Indicators are bullish.
The
Trump bounce is largely over. Time to watch those stops.
|
||
|
On
the Horizon
|
Australia
– CPI, New Zealand – CPI, Japan – CPI,
U.K
– GDP,
US
– Durable Goods, Trade balance, GDP
|
||
|
*Nifty
|
India’s
Benchmark Stock Market Index
|
||
|
Raw
Data
|
Courtesy
Google finance, Stock charts, dailyfx.com
|
||
|
**Neutral
|
Changes less than 0.5% are considered
neutral
|
The S and
P 500 was unchanged and the Nifty fell last week. Signals are bullish for the
upcoming week. Possible FED rate hikes are yet to be priced in and sentiment
indicators are back in complacent mode. Bond yields are surging back up. The
critical levels to watch are 2280 (up) and 2260 (down) on the S & P and 8400
(up) and 8300 (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. Love your thoughts and feedback.
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