|
Indicator
|
Weekly
Level / Change
|
Implication
for
S
& P 500
|
Implication
for Nifty*
|
|
S
& P 500
|
2349, 0.85%
|
Bullish
|
Bullish
|
|
Nifty
|
9119, -0.34%
|
Neutral
**
|
Neutral
|
|
China
Shanghai Index
|
3173, -3.14%
|
Bearish
|
Bearish
|
|
Gold
|
1289, 0.05%
|
Neutral
|
Neutral
|
|
WTIC
Crude
|
49.62, -6.69%
|
Bearish
|
Bearish
|
|
Copper
|
2.54, -1.28%
|
Bearish
|
Bearish
|
|
Baltic
Dry Index
|
1195, -7.79%
|
Bearish
|
Bearish
|
|
Euro
|
1.073, 1.04%
|
Bullish
|
Bullish
|
|
Dollar/Yen
|
109.16, 0.08%
|
Neutral
|
Neutral
|
|
Dow
Transports
|
9134, 2.92%
|
Bullish
|
Bullish
|
|
High
Yield (ETF)
|
36.87, 0.46%
|
Neutral
|
Neutral
|
|
US
10 year Bond Yield
|
2.24%, 0.22%
|
Neutral
|
Neutral
|
|
Nyse
Summation Index
|
489, 6.96%
|
Bullish
|
Neutral
|
|
US
Vix
|
14.63, 8.33%
|
Bullish
|
Bullish
|
|
Skew
|
148
|
Bearish
|
Bearish
|
|
20
DMA, S and P 500
|
2352, Below
|
Bearish
|
Neutral
|
|
50
DMA, S and P 500
|
2357, Below
|
Bearish
|
Neutral
|
|
200
DMA, S and P 500
|
2234, Above
|
Bullish
|
Neutral
|
|
20
DMA, Nifty
|
9159, Below
|
Neutral
|
Bearish
|
|
50
DMA, Nifty
|
9017, Above
|
Neutral
|
Bullish
|
|
200
DMA, Nifty
|
8611, Above
|
Neutral
|
Bullish
|
|
India
Vix
|
11.42, -1.34%
|
Neutral
|
Bullish
|
|
Dollar/Rupee
|
64.70, 0.25%
|
Neutral
|
Neutral
|
|
Overall
|
S
& P 500
|
Nifty
|
|
|
Bullish
Indications
|
6
|
7
|
|
|
Bearish
Indications
|
7
|
6
|
|
|
Outlook
|
Bearish
|
Bullish
|
|
|
Observation
|
The
S and P 500 was up 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
|
Australia
- CPI, RBA governor speech, Japan - Rate decision, CPI, Euro Zone – French
elections, German CPI, Euro zone CPI, ECB rate decision, U.K – GDP,
Switzerland – SNB Jordan speech, Canada
– GDP, U.S – Durable goods, Consumer confidence, Personal consumption data,
GDP
|
||
|
*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 was up and the Nifty fell last week. Signals are mixed 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, the yen and commodities
are flashing major warning signs of a large decline ahead. The critical levels
to watch are 2360 (up) and 2340 (down) on the S & P and 9200 (up) and 9050
(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.
