|
Indicator
|
Weekly
Level / Change
|
Implication
for
S
& P 500
|
Implication
for Nifty*
|
|
S
& P 500
|
2316, 0.81%
|
Bullish
|
Bullish
|
|
Nifty
|
8794, 0.60%
|
Neutral**
|
Bullish
|
|
China
Shanghai Index
|
3197, 1.80%
|
Bullish
|
Bullish
|
|
Gold
|
1236, 1.24%
|
Bullish
|
Bullish
|
|
WTIC
Crude
|
53.86, 0.06%
|
Neutral
|
Neutral
|
|
Copper
|
2.77, 5.81%
|
Bullish
|
Bullish
|
|
Baltic
Dry Index
|
702, -6.65%
|
Bearish
|
Bearish
|
|
Euro
|
1.064, -1.34%
|
Bearish
|
Bearish
|
|
Dollar/Yen
|
113.28, 0.51%
|
Bullish
|
Bullish
|
|
Dow
Transports
|
9394, 1.65%
|
Bullish
|
Bullish
|
|
High
Yield (ETF)
|
36.90, 0.05%
|
Neutral
|
Neutral
|
|
US
10 year Bond Yield
|
2.41%, -3.29%
|
Bullish
|
Bullish
|
|
Nyse
Summation Index
|
686, 4.85%
|
Bullish
|
Neutral
|
|
US
Vix
|
10.85, -1.09%
|
Bullish
|
Bullish
|
|
20
DMA, S and P 500
|
2285, Above
|
Bullish
|
Neutral
|
|
50
DMA, S and P 500
|
2265, Above
|
Bullish
|
Neutral
|
|
200
DMA, S and P 500
|
2166, Above
|
Bullish
|
Neutral
|
|
20
DMA, Nifty
|
8591, Above
|
Neutral
|
Bullish
|
|
50
DMA, Nifty
|
8331, Above
|
Neutral
|
Bullish
|
|
200
DMA, Nifty
|
8375, Above
|
Neutral
|
Bullish
|
|
India
Vix
|
13.18, 0.38%
|
Neutral
|
Neutral
|
|
Dollar/Rupee
|
66.86, -0.46%
|
Neutral
|
Neutral
|
|
Overall
|
S
& P 500
|
Nifty
|
|
|
Bullish
Indications
|
12
|
12
|
|
|
Bearish
Indications
|
2
|
2
|
|
|
Outlook
|
Bullish
|
Bullish
|
|
|
Observation
|
The
S and P 500 and the Nifty rallied last week. Indicators are bullish.
The
market is in melt up mode. Time to watch those stops.
|
||
|
On
the Horizon
|
China
– New loans, PPI, CPI, Japan – GDP, Australia – Employment data, U.K – CPI, Euro
zone – German GDP, Euro zone GDP, Italy GDP, ZEW survey, G20 meeting, U.S
–Retail sales, CPI, Yellen testimony
|
||
|
*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 and the Nifty moved up 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. The Baltic dry index is crashing again. The
critical levels to watch are 2325 (up) and 2300 (down) on the S & P and 8850
(up) and 8750 (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.
