|
Indicator
|
Weekly
Level / Change
|
Implication
for
S
& P 500
|
Implication
for Nifty*
|
|
S
& P 500
|
2363, 0.80%
|
Bullish
|
Bullish
|
|
Nifty
|
9174, 0.72%
|
Neutral
**
|
Bullish
|
|
China
Shanghai Index
|
3223, -1.44%
|
Bearish
|
Bearish
|
|
Gold
|
1251, 0.22%
|
Neutral
|
Neutral
|
|
WTIC
Crude
|
50.60, 5.48%
|
Bullish
|
Bullish
|
|
Copper
|
2.65, 0.82%
|
Bullish
|
Bullish
|
|
Baltic
Dry Index
|
1297, 4.60%
|
Bullish
|
Bullish
|
|
Euro
|
1.066, -1.33%
|
Bearish
|
Bearish
|
|
Dollar/Yen
|
111.38, 0.13%
|
Neutral
|
Neutral
|
|
Dow
Transports
|
9117, 2.10%
|
Bullish
|
Bullish
|
|
High
Yield (ETF)
|
36.93, 1.07%
|
Bullish
|
Bullish
|
|
US
10 year Bond Yield
|
2.40%, -0.17%
|
Neutral
|
Neutral
|
|
Nyse
Summation Index
|
325, 46%
|
Bullish
|
Neutral
|
|
US
Vix
|
12.37, -4.55%
|
Bullish
|
Bullish
|
|
Skew
|
138
|
Neutral
|
Neutral
|
|
20
DMA, S and P 500
|
2364, Below
|
Bearish
|
Neutral
|
|
50
DMA, S and P 500
|
2339, Above
|
Bullish
|
Neutral
|
|
200
DMA, S and P 500
|
2215, Above
|
Bullish
|
Neutral
|
|
20
DMA, Nifty
|
9060, Above
|
Neutral
|
Bullish
|
|
50
DMA, Nifty
|
8860, Above
|
Neutral
|
Bullish
|
|
200
DMA, Nifty
|
8544, Above
|
Neutral
|
Bullish
|
|
India
Vix
|
12.42, 3.69%
|
Neutral
|
Bearish
|
|
Dollar/Rupee
|
64.79, -0.89%
|
Neutral
|
Bullish
|
|
Overall
|
S
& P 500
|
Nifty
|
|
|
Bullish
Indications
|
10
|
12
|
|
|
Bearish
Indications
|
3
|
3
|
|
|
Outlook
|
Bullish
|
Bullish
|
|
|
Observation
|
The
S and P 500 and the Nifty rallied last week. Indicators are bullish.
The
market is beginning a break down. Time to watch those stops.
|
||
|
On
the Horizon
|
Australia
– Rate decision, England – BOE financial stability report,
U.S
– ISM, FOMC minutes, Employment data, Canada – Employment data Canada – GDP,
Euro Zone – Draghi speech, UK – Carney speech
|
||
|
*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 rallied last week. Signals are bullish for the upcoming
week. Past and future FED rate hikes are yet to be priced in and sentiment
indicators are back in complacent mode. Market internals, transports and
commodities are flashing major warning signs of a large decline ahead. The
critical levels to watch are 2370 (up) and 2350 (down) on the S & P and 9250
(up) and 9100 (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.
