Indicator
|
Weekly Level / Change /
Significance
|
Implication for
S & P 500
|
Implication for Nifty*
|
S & P 500
|
2075, 2.07%
|
Bullish
|
Bullish
|
Nifty
|
8296, 0.70%
|
Neutral**
|
Bullish
|
China Shanghai Index
|
3412, 0.62%
|
Bullish
|
Bullish
|
Gold
|
1164, -1.14%
|
Bearish
|
Bearish
|
WTIC Crude
|
44.73, -6.29%
|
Bearish
|
Bearish
|
Copper
|
2.35, -2.21%
|
Bearish
|
Bearish
|
Baltic Dry Index
|
774, 2.65%
|
Bullish
|
Bullish
|
Euro
|
1.1015, -3.02%
|
Bearish
|
Bearish
|
Dollar/Yen
|
121.46, 1.65%
|
Bullish
|
Bullish
|
Dow Transports
|
8296, 2.69%
|
Bullish
|
Bullish
|
US 10 year Bond Yield
|
2.08%, 2.97%
|
Bearish
|
Bearish
|
Nyse Summation Index
|
373, 99.09%
|
Bullish
|
Neutral
|
US Vix
|
14.46, -3.92%
|
Bullish
|
Bullish
|
20 DMA, S and P 500
|
1992, Above
|
Bullish
|
Neutral
|
50 DMA, S and P 500
|
1980, Above
|
Bullish
|
Neutral
|
200 DMA, S and P 500
|
2060, Above
|
Bullish
|
Neutral
|
20 DMA, Nifty
|
8095, Above
|
Neutral
|
Bullish
|
50 DMA, Nifty
|
8042, Above
|
Neutral
|
Bullish
|
200 DMA, Nifty
|
8377, Below
|
Neutral
|
Bearish
|
India Vix
|
16.19, -0.51%
|
Neutral
|
Bullish
|
Dollar/Rupee
|
65.01, 0.47%
|
Neutral
|
Neutral
|
|
|
|
|
Overall
|
S & P 500
|
Nifty
|
|
Bullish Indications
|
9
|
10
|
|
Bearish Indications
|
5
|
6
|
|
Outlook
|
Bullish
|
Bullish
|
|
Observation
|
The Sand P 500 and the Nifty
were up last week. Indicators are bullish. The Vix is back in complacency mode. Looking
for a top post the FOMC.
|
|
|
On the Horizon
|
Australia - CPI, New Zealand – Rate decision,
Canada - GDP, Euro Zone – German employment data, German CPI, Euro Zone CPI, U.K
– GDP, Japan - CPI , U.S – Durable goods, Consumer confidence, Trade balance,
personal consumption, GDP, FOMC rate decision.
|
|
|
|
|
|
|
*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 markets rallied last week. Signals are bullish for the upcoming week and this bounce is on the verge of completion. The tape has been very strong the last few days and downside momentum must be confirmed below 2050 for short positions. The markets should encounter resistance at higher levels post the FOMC meeting.
There will be more downside upcoming in the #Nifty and the S and P 500, with at least a retest of the lows for the S and P 500 near 1867 and Nifty near 7550 in the upcoming months. You can check out last weeks
report for a comparison. You can also check out snapshots of the
S and P 500 and
Nifty Indices. Love your thoughts and feedback.
