|
Indicator
|
Weekly
Level / Change
|
Implication
for
S
& P 500
|
Implication
for Nifty*
|
|
S
& P 500
|
2329, -1.13%
|
Bearish
|
Bearish
|
|
Nifty
|
9151, -0.52%
|
Neutral
**
|
Bearish
|
|
China
Shanghai Index
|
3276, -0.32%
|
Neutral
|
Neutral
|
|
Gold
|
1289, 2.48%
|
Bullish
|
Bullish
|
|
WTIC
Crude
|
53.18, 1.80%
|
Bullish
|
Bullish
|
|
Copper
|
2.57, -2.89%
|
Bearish
|
Bearish
|
|
Baltic
Dry Index
|
1296, 5.97%
|
Bullish
|
Bullish
|
|
Euro
|
1.0614, 0.18%
|
Neutral
|
Neutral
|
|
Dollar/Yen
|
109.07, -1.84%
|
Bearish
|
Bearish
|
|
Dow
Transports
|
8875, -2.53%
|
Bearish
|
Bearish
|
|
High
Yield (ETF)
|
36.70, -0.16%
|
Neutral
|
Neutral
|
|
US
10 year Bond Yield
|
2.23%, -5.94%
|
Bullish
|
Bullish
|
|
Nyse
Summation Index
|
457, 12.69%
|
Bullish
|
Neutral
|
|
US
Vix
|
15.96, 24.01%
|
Bearish
|
Bearish
|
|
Skew
|
134
|
Neutral
|
Neutral
|
|
20
DMA, S and P 500
|
2355, Below
|
Bearish
|
Neutral
|
|
50
DMA, S and P 500
|
2352, Below
|
Bearish
|
Neutral
|
|
200
DMA, S and P 500
|
2228, Above
|
Bullish
|
Neutral
|
|
20
DMA, Nifty
|
9158, Below
|
Neutral
|
Bearish
|
|
50
DMA, Nifty
|
8977, Above
|
Neutral
|
Bullish
|
|
200
DMA, Nifty
|
8587, Above
|
Neutral
|
Bullish
|
|
India
Vix
|
11.58, -0.98%
|
Neutral
|
Bullish
|
|
Dollar/Rupee
|
64.54, 0.09%
|
Neutral
|
Neutral
|
|
Overall
|
S
& P 500
|
Nifty
|
|
|
Bullish
Indications
|
6
|
7
|
|
|
Bearish
Indications
|
7
|
7
|
|
|
Outlook
|
Bearish
|
Neutral
|
|
|
Observation
|
The
S and P 500 and the Nifty were down last week. Indicators are tilting towards
the bearish side.
The
market is beginning a break down. Time to watch those stops.
|
||
|
On
the Horizon
|
Japan
– Kuroda speech, China – GDP, New Zealand – CPI, UK – Carney speech,
Canada
– CPI
|
||
|
*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 fell last week. Signals are bearish for the upcoming week. Past
and future FED rate hikes are yet to be priced in and sentiment indicators are entering
panic mode. Market internals, transports, the yen and commodities are flashing
major warning signs of a large decline ahead. The critical levels to watch are 2340
(up) and 2320 (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.
