Daily Market Insight

Here is your daily insight from global financial markets. Today's post is an aggregate of interesting news and views form the Stock, FOREX, Commodity markets and the Economy:
Daily Market Insight

Market Signals for the US stock market S and P 500 Index and Indian Stock Market Nifty Index for the Week beginning September 4

Indicator	Weekly Level / Change	Implication for S & P 500	Implication for Nifty*
S & P 500	2477, 1.37%	Bullish	Bullish
Nifty	9974, 1.17%	Neutral **	Bullish
China Shanghai Index	3367, 1.07%	Bullish	Bullish
Gold	1330, 2.50%	Bullish	Bullish
WTIC Crude	47.29, -1.21%	Bearish	Bearish
Copper	3.12, 2.01%	Bullish	Bullish
Baltic Dry Index	1184, -1.33%	Bearish	Bearish
Euro	1.1850, -0.60%	Bearish	Bearish
Dollar/Yen	110.28, 0.88%	Bullish	Bullish
Dow Transports	9356, 2.43%	Bullish	Bullish
High Yield (ETF)	37.11, 0.39%	Neutral	Neutral
US 10 year Bond Yield	2.16%, -0.55%	Bullish	Bullish
Nyse Summation Index	267, 54.89%	Bullish	Neutral
US Vix	10.13, -10.20%	Bullish	Bullish
Skew	135	Neutral	Neutral
20 DMA, S and P 500	2453, Above	Bullish	Neutral
50 DMA, S and P 500	2453, Above	Bullish	Neutral
200 DMA, S and P 500	2362, Above	Bullish	Neutral
20 DMA, Nifty	9885, Above	Neutral	Bullish
50 DMA, Nifty	9832, Above	Neutral	Bullish
200 DMA, Nifty	9090, Above	Neutral	Bullish
India Vix	11.68, -7.14%	Neutral	Bullish
Dollar/Rupee	63.81, -0.09%	Neutral	Neutral
Overall	S & P 500	Nifty
Bullish Indications	12	13
Bearish Indications	3	3
Outlook	Bullish	Bullish
Observation	The S and P 500 and the Nifty moved up last week. Indicators are bullish. The market is topping. Time to tighten those stops.
On the Horizon	Japan - GDP, Australia – GDP, Rate decision, Retail sales,  Euro Zone – Rate decision, UK – PMI’s, Canada – Rate decision, Employment data, PMI,  U.S – ISM data, Oil inventories
*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 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 complacency mode. The markets are still trading at 3 standard deviations above their long term averages from which corrections usually result. The critical levels to watch are 2485 (up) and 2465 (down) on the S & P and 10050 (up) and 9900 (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.

Daily Market Insight

Here is your daily insight from global financial markets. Today's post is an aggregate of interesting news and views form the Stock, FOREX and Commodity markets and the Economy:
Daily Market Insight