|
Indicator
|
Weekly
Level / Change
|
Implication
for
S
& P 500
|
Implication
for Nifty*
|
|
S
& P 500
|
2391, -0.35%
|
Neutral
|
Neutral
|
|
Nifty
|
9401, 1.24%
|
Neutral
**
|
Bullish
|
|
China
Shanghai Index
|
3084, -0.63%
|
Bearish
|
Bearish
|
|
Gold
|
1228, 0.07%
|
Neutral
|
Neutral
|
|
WTIC
Crude
|
47.84, 3.50%
|
Bullish
|
Bullish
|
|
Copper
|
2.52, -0.18%
|
Neutral
|
Neutral
|
|
Baltic
Dry Index
|
1014, 2.01%
|
Bullish
|
Bullish
|
|
Euro
|
1.093, -0.65%
|
Bearish
|
Bearish
|
|
Dollar/Yen
|
113.32, 0.59%
|
Bullish
|
Bullish
|
|
Dow
Transports
|
9001, -2.05%
|
Bearish
|
Bearish
|
|
High
Yield (ETF)
|
37.09, 0.43%
|
Neutral
|
Neutral
|
|
US
10 year Bond Yield
|
2.34%, -0.72%
|
Bullish
|
Bullish
|
|
Nyse
Summation Index
|
545, -10.60%
|
Bearish
|
Neutral
|
|
US
Vix
|
10.40, -1.61%
|
Bullish
|
Bullish
|
|
Skew
|
130
|
Neutral
|
Neutral
|
|
20
DMA, S and P 500
|
2380, Above
|
Bullish
|
Neutral
|
|
50
DMA, S and P 500
|
2369, Above
|
Bullish
|
Neutral
|
|
200
DMA, S and P 500
|
2252, Above
|
Bullish
|
Neutral
|
|
20
DMA, Nifty
|
9271, Above
|
Neutral
|
Bullish
|
|
50
DMA, Nifty
|
9158, Above
|
Neutral
|
Bullish
|
|
200
DMA, Nifty
|
8675, Above
|
Neutral
|
Bullish
|
|
India
Vix
|
10.63, -11.35%
|
Neutral
|
Bullish
|
|
Dollar/Rupee
|
64.16, -0.19%
|
Neutral
|
Neutral
|
|
Overall
|
S
& P 500
|
Nifty
|
|
|
Bullish
Indications
|
8
|
10
|
|
|
Bearish
Indications
|
4
|
3
|
|
|
Outlook
|
Bullish
|
Bullish
|
|
|
Observation
|
The
S and P 500 was down and the Nifty was up last week. Indicators mildly bullish.
The
market is repeatedly failing at resistance. Time to watch those stops.
|
||
|
On
the Horizon
|
Japan
– GDP, Australia – Employment data, Euro Zone – Italy GDP, German ZEW survey,
Euro Zone GDP, Draghi speech, UK – CPI, 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 was down and the Nifty was up 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 complacency mode. Market internals, the transports and
commodities are flashing major warning signs of a large decline ahead. The
critical levels to watch are 2400 (up) and 2380 (down) on the S & P and 9450
(up) and 9350 (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.
