|
Indicator
|
Weekly
Level / Change
|
Implication
for
S
& P 500
|
Implication
for Nifty*
|
|
S
& P 500
|
2477, 0.19%
|
Neutral
|
Neutral
|
|
Nifty
|
10066, 0.52%
|
Neutral
**
|
Bullish
|
|
China
Shanghai Index
|
3262, 0.27%
|
Neutral
|
Neutral
|
|
Gold
|
1265, -0.84%
|
Bearish
|
Bearish
|
|
WTIC
Crude
|
49.58, -0.26%
|
Neutral
|
Neutral
|
|
Copper
|
2.88, 0.35%
|
Neutral
|
Neutral
|
|
Baltic
Dry Index
|
1023, 8.60%
|
Bullish
|
Bullish
|
|
Euro
|
1.1774, 0.19%
|
Neutral
|
Neutral
|
|
Dollar/Yen
|
110.67, -0.01%
|
Neutral
|
Neutral
|
|
Dow
Transports
|
9278, 0.55%
|
Bullish
|
Bullish
|
|
High
Yield (ETF)
|
37.22, -0.07%
|
Neutral
|
Neutral
|
|
US
10 year Bond Yield
|
2.27%, -0.96%
|
Bullish
|
Bullish
|
|
Nyse
Summation Index
|
712, -5.21%
|
Bearish
|
Neutral
|
|
US
Vix
|
10.03, -2.53%
|
Bullish
|
Bullish
|
|
Skew
|
140
|
Neutral
|
Neutral
|
|
20
DMA, S and P 500
|
2464, Above
|
Bullish
|
Neutral
|
|
50
DMA, S and P 500
|
2444, Above
|
Bullish
|
Neutral
|
|
200
DMA, S and P 500
|
2331, Above
|
Bullish
|
Neutral
|
|
20
DMA, Nifty
|
9946, Above
|
Neutral
|
Bullish
|
|
50
DMA, Nifty
|
9746, Above
|
Neutral
|
Bullish
|
|
200
DMA, Nifty
|
8974, Above
|
Neutral
|
Bullish
|
|
India
Vix
|
11.39, 2.27%
|
Neutral
|
Bearish
|
|
Dollar/Rupee
|
63.75, -0.55%
|
Neutral
|
Bullish
|
|
Overall
|
S
& P 500
|
Nifty
|
|
|
Bullish
Indications
|
7
|
9
|
|
|
Bearish
Indications
|
2
|
2
|
|
|
Outlook
|
Bullish
|
Bullish
|
|
|
Observation
|
The
S and P 500 and the Nifty are close to new highs. Indicators are bullish.
The
market is topping. Time to tighten those stops.
|
||
|
On
the Horizon
|
UK
– Manufacturing production data, New Zealand – Rate decision, U.S –Oil inventories,
PPI, CPI
|
||
|
*Nifty
|
India’s
Benchmark Stock Market Index
|
||
|
Raw
Data
|
Courtesy
Google finance, Stock charts, investing.com
|
||
|
**Neutral
|
Changes less than 0.5% are considered
neutral
|
The S and
P 500 and the Nifty are close to new highs. 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. Transports and the Yen are flashing
warning signs. Momentum is waning. The critical levels to watch are 2485 (up)
and 2465 (down) on the S & P and 10100 (up) and 10000 (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.
