Indicator
|
Weekly
Level / Change
|
Implication
for
S
& P 500
|
Implication
for Nifty*
|
S
& P 500
|
2670, -0.01%
|
Neutral
|
Neutral
|
Nifty
|
10692, 1.21%
|
Neutral
**
|
Bullish
|
China
Shanghai Index
|
3082, 0.35%
|
Neutral
|
Neutral
|
Gold
|
1323, -1.11%
|
Bearish
|
Bearish
|
WTIC
Crude
|
68.10, -0.44%
|
Neutral
|
Neutral
|
Copper
|
3.05, -2.84%
|
Bearish
|
Bearish
|
Baltic
Dry Index
|
1374, 14.49%
|
Bullish
|
Bullish
|
Euro
|
1.2136, -1.37%
|
Bearish
|
Bearish
|
Dollar/Yen
|
109.09, 1.38%
|
Bullish
|
Bullish
|
Dow
Transports
|
10549, -0.28%
|
Neutral
|
Neutral
|
High
Yield (ETF)
|
35.87, -0.33%
|
Neutral
|
Neutral
|
US
10 year Bond Yield
|
2.96%, 0.20%
|
Neutral
|
Neutral
|
Nyse
Summation Index
|
205, -21.74%
|
Bearish
|
Neutral
|
US
Vix
|
15.41, -8.71%
|
Bullish
|
Bullish
|
Skew
|
128
|
Neutral
|
Neutral
|
20
DMA, S and P 500
|
2654, Above
|
Bullish
|
Neutral
|
50
DMA, S and P 500
|
2688, Below
|
Bearish
|
Neutral
|
200
DMA, S and P 500
|
2611, Above
|
Bullish
|
Neutral
|
20
DMA, Nifty
|
10460, Above
|
Neutral
|
Bullish
|
50
DMA, Nifty
|
10375, Above
|
Neutral
|
Bullish
|
200
DMA, Nifty
|
10266, Above
|
Neutral
|
Bullish
|
India
Vix
|
12.02, -7.11%
|
Neutral
|
Bullish
|
Dollar/Rupee
|
66.51, 0.47%
|
Neutral
|
Neutral
|
Overall
|
S
& P 500
|
Nifty
|
|
Bullish
Indications
|
5
|
8
|
|
Bearish
Indications
|
5
|
3
|
|
Outlook
|
Neutral
|
Bullish
|
|
Observation
|
The
S and P 500 was unchanged and the Nifty rallied last week. Indicators are mixed.
The
markets have made important tops. Time to watch those stops.
|
||
On
the Horizon
|
Australia
– RBA rate decision, China – PMI, UK- PMI’s, U.S – Home
sales, ISM PMI’s, Oil inventories, FOMC rate decision, Employment data, Canada – Poloz speech, PMI
|
||
*Nifty
|
India’s
Benchmark Stock Market Index
|
||
Raw
Data
|
Courtesy
Google finance, Stock charts, investing.com
|
||
**Neutral
|
Changes less than 0.5% are considered
neutral
|
The S and
P 500 was unchanged and the Nifty rallied last week. Indicators are mixed for
the upcoming week. The markets are gearing for a really big directional move
likely post the FED next week. Quantitative tightening by the FED is yet to be
priced in fully. The markets are still trading well over 3 standard deviations above
their long term averages from which corrections usually result. Indian market
volatility is still well below US market volatility as the nifty is close to
resistance while the US market has hit resistance and turned down. The critical
levels to watch are 2680 (up) and 2660 (down)
on the S & P and 10750 (up) and 10600 (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.
No comments:
Post a Comment