About

Ahead of the Curve provides you with analysis and insight into today's global financial markets. The latest news and views from global stock, bond, commodity and FOREX markets are discussed. Rajveer Rawlin is a PhD and received his MBA in finance from the Cardiff Metropolitan University, Wales, UK. He is an avid market watcher having followed capital markets in the US and India since 1993. His research interests includes areas of Capital Markets, Banking, Investment Analysis and Portfolio Management and has over 20 years of experience in the above areas covering the US and Indian Markets. He has several publications in the above areas. The views expressed here are his own and should not be construed as advice to buy or sell securities.

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Time Series Analysis with GRETL

This video shows key time-series analyses techniques such as ARIMA, Granger Causality, Co-integration, and VECM performed via GRETL. Key dia...

Sunday 8 July 2018

Market Signals for the US stock market S and P 500 Index and Indian Stock Market Nifty Index for the Week beginning July 09

Indicator
Weekly Level / Change
Implication for
S & P 500
Implication for Nifty*
S & P 500
2760, 1.52%
Bullish
Bullish
Nifty
10773, 0.54%
Neutral **
Bullish
China Shanghai Index
2747, -3.52%
Bearish
Bearish
Gold
1256, 0.10%
Neutral
Neutral
WTIC Crude
73.80, -0.47%
Neutral
Neutral
Copper
2.82, -4.79%
Bearish
Bearish
Baltic Dry Index
1612, 21.29%
Bullish
Bullish
Euro
1.1750, 0.47%
Neutral
Neutral
Dollar/Yen
110.41, -0.18%
Neutral
Neutral
Dow Transports
10474, 1.25%
Bullish
Bullish
High Yield (ETF)
35.56, 0.70%
Bullish
Bullish
US 10 year Bond Yield
2.83%, -0.63%
Bullish
Bullish
Nyse Summation Index
577, 6.62%
Bullish
Neutral
US Vix
13.37, -16.90%
Bullish
Bullish
Skew
141
Bearish
Bearish
20 DMA, S and P 500
2750, Above
Bullish
Neutral
50 DMA, S and P 500
2724, Above
Bullish
Neutral
200 DMA, S and P 500
2674, Above
Bullish
Neutral
20 DMA, Nifty
10756, Above
Neutral
Bullish
50 DMA, Nifty
10706, Above
Neutral
Bullish
200 DMA, Nifty
10456, Above
Neutral
Bullish
India Vix
12.44, -3.83%
Neutral
Bullish
Dollar/Rupee
68.75, 0.45%
Neutral
Neutral


Overall


S & P 500


Nifty

Bullish Indications
10
11
Bearish Indications
3
3
Outlook
Bullish
Bullish
Observation
The S and P 500 and the Nifty rallied last week. Indicators are bullish.
The markets are about to make secondary tops.
On the Horizon
U.S – PPI, CPI, Canada – BOC rate decision
*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


stock market signals july 09


The S and P 500 and the Nifty rallied last week. Indicators are bullish for the upcoming week. This rally should lead to a major secondary top in key asset classes near 2830 on the S and P, 1.20 on the Euro and 11, 100 on the Nifty. 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. The critical levels to watch for the week are 2770 (up) and 2750 (down) on the S & P and 10900 (up) and 10700 (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.


Wednesday 4 July 2018

Mid Week Market Insight

More trouble in emerging market land. Massive curve flattening across the globe. China free fall continues. These and other stories from some of the best asset managers, market commentators, financial analysts and CMT's of today:

Sunday 1 July 2018

Market Signals for the US stock market S and P 500 Index and Indian Stock Market Nifty Index for the Week beginning July 02

Indicator
Weekly Level / Change
Implication for
S & P 500
Implication for Nifty*
S & P 500
2718, -1.33%
Bearish
Bearish
Nifty
10714, -0.99%
Neutral **
Bearish
China Shanghai Index
2847, -1.47%
Bearish
Bearish
Gold
1255, -1.27%
Bearish
Bearish
WTIC Crude
74.15, 8.12%
Bullish
Bullish
Copper
2.97, -2.02%
Bearish
Bearish
Baltic Dry Index
1329, -1.34%
Bearish
Bearish
Euro
1.1694, 0.28%
Neutral
Neutral
Dollar/Yen
110.61, 0.58%
Bullish
Bullish
Dow Transports
10345, -3.97%
Bearish
Bearish
High Yield (ETF)
35.48, -1.06%
Bearish
Bearish
US 10 year Bond Yield
2.85%, -1.76%
Bullish
Bullish
Nyse Summation Index
541, -22.35%
Bearish
Neutral
US Vix
16.09, 16.85%
Bearish
Bearish
Skew
142
Bearish
Bearish
20 DMA, S and P 500
2755, Below
Bearish
Neutral
50 DMA, S and P 500
2717, Above
Bullish
Neutral
200 DMA, S and P 500
2669, Above
Bullish
Neutral
20 DMA, Nifty
10745, Below
Neutral
Bearish
50 DMA, Nifty
10692, Above
Neutral
Bullish
200 DMA, Nifty
10440, Above
Neutral
Bullish
India Vix
12.94, 7.61%
Neutral
Bearish
Dollar/Rupee
68.44, 0.87%
Neutral
Bearish


Overall


S & P 500


Nifty

Bullish Indications
5
4
Bearish Indications
11
13
Outlook
Bearish
Bearish
Observation
The S and P 500 and the Nifty fell last week. Indicators are bearish.
The markets have made important tops. Time to watch those stops.
On the Horizon
U.S – Employment data
*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


stock market signals july 02


The S and P 500 and the Nifty fell last week. Indicators are bearish for the upcoming 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. The recent yield spike and dollar strength should limit upside in the short term. High yield is diverging from the oil price and so are transports from the major indices. The critical levels to watch are 2730 (up) and 2705 (down) on the S & P and 10800 (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.

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My Asset Allocation Strategy (Indian Market)

Cash - 40%
Bonds - 20%
Fixed deposit - 20%
Gold - 5%
Stocks - 10% ( Majority of this in dividend funds)
Other Asset Classes - 5%

My belief is that stocks are relatively overvalued compared to bonds and attractive buying opportunities can come along after 1-2 years. In a deflationary scenario no asset class does well other than U.S bonds, the U.S dollar and the Japanese yen, so better to be safe than sorry with high quality government bonds and fixed deposits. Cash is the king always. Of course this varies with the person's age.