|
Indicator
|
Weekly
Level / Change
|
Implication
for
S
& P 500
|
Implication
for Nifty*
|
|
S
& P 500
|
2581, 0.23%
|
Neutral
|
Neutral
|
|
Nifty
|
10323, 1.72%
|
Bullish
**
|
Bullish
|
|
China
Shanghai Index
|
3417, 1.13%
|
Bullish
|
Bullish
|
|
Gold
|
1272, -0.68%
|
Bearish
|
Bearish
|
|
WTIC
Crude
|
53.90, 3.97%
|
Bullish
|
Bullish
|
|
Copper
|
3.10, -1.96%
|
Bearish
|
Bearish
|
|
Baltic
Dry Index
|
1546, -2.28%
|
Bearish
|
Bearish
|
|
Euro
|
1.1609, -1.49%
|
Bearish
|
Bearish
|
|
Dollar/Yen
|
113.67, 0.18%
|
Neutral
|
Neutral
|
|
Dow
Transports
|
9932, -0.41%
|
Neutral
|
Neutral
|
|
High
Yield (ETF)
|
37.23, -0.24%
|
Neutral
|
Neutral
|
|
US
10 year Bond Yield
|
2.43%, 1.97%
|
Bearish
|
Bearish
|
|
Nyse
Summation Index
|
732, -17.84%
|
Bearish
|
Neutral
|
|
US
Vix
|
9.80, -1.71%
|
Bullish
|
Bullish
|
|
Skew
|
136
|
Neutral
|
Neutral
|
|
20
DMA, S and P 500
|
2555, Above
|
Bullish
|
Neutral
|
|
50
DMA, S and P 500
|
2508, Above
|
Bullish
|
Neutral
|
|
200
DMA, S and P 500
|
2418, Above
|
Bullish
|
Neutral
|
|
20
DMA, Nifty
|
10082, Above
|
Neutral
|
Bullish
|
|
50
DMA, Nifty
|
10000, Above
|
Neutral
|
Bullish
|
|
200
DMA, Nifty
|
9457, Above
|
Neutral
|
Bullish
|
|
India
Vix
|
11.48, -7.71%
|
Neutral
|
Bullish
|
|
Dollar/Rupee
|
64.88, -0.35%
|
Neutral
|
Neutral
|
|
Overall
|
S
& P 500
|
Nifty
|
|
|
Bullish
Indications
|
6
|
8
|
|
|
Bearish
Indications
|
6
|
5
|
|
|
Outlook
|
Neutral
|
Bullish
|
|
|
Observation
|
The
S and P 500 and the Nifty made new highs last week. Indicators are mixed.
The
market is topping. Time to tighten those stops.
|
||
|
On
the Horizon
|
China
– PMI, Japan – Rate decision, New Zealand – Employment data, Australia – Retail
sales, UK – Rate decision, PMI, Euro zone – CPI, German PMI, German employment
data, U.S – Consumer confidence, Oil inventories, FOMC rate decision, Employment
data, ISM data, Canada – GDP, Employment data
|
||
|
*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 made new highs last week. Signals are mixed for the
upcoming week. Quantitative tightening by the FED is yet to be priced in and sentiment
indicators are back in complacency mode. The markets are still trading well
over 3 standard deviations above their long term averages from which
corrections usually result. The critical levels to watch are 2590 (up) and 2570(down)
on the S & P and 10400 (up) and 10250 (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.
