Market Signals for the US stock market S and P 500 Index and Indian Stock Market Nifty Index for the Week beginning August 14


 

Indicator
Weekly
Level / Change
Implication
for
S
& P 500
Implication
for Nifty*
S
& P 500
2441, -1.43%
Bearish
Bearish
Nifty
9711, -3.56%
Neutral
**
Bearish
China
Shanghai Index
3209, -1.64%
Bearish
Bearish
Gold
1294, 2.32%
Bullish
Bullish
WTIC
Crude
48.82, -1.53%
Bearish
Bearish
Copper
2.91, 0.94%
Bullish
Bullish
Baltic
Dry Index
1092, 6.74%
Bullish
Bullish
Euro
1.1820, 0.39%
Neutral
Neutral
Dollar/Yen
109.17, -1.36%
Bearish
Bearish
Dow
Transports
9199, -0.85%
Bearish
Bearish
High
Yield (ETF)
36.77, -1.21%
Bearish
Bearish
US
10 year Bond Yield
2.18%, -3.44%
Bullish
Bullish
Nyse
Summation Index
460, -35.36%
Bearish
Neutral
US
Vix
15.51, 54.64%
Bearish
Bearish
Skew
135
Neutral
Neutral
20
DMA, S and P 500
2470, Below
Bearish
Neutral
50
DMA, S and P 500
2448, Below
Bearish
Neutral
200
DMA, S and P 500
2339, Above
Bullish
Neutral
20
DMA, Nifty
9962, Below
Neutral
Bearish
50
DMA, Nifty
9775, Below
Neutral
Bearish
200
DMA, Nifty
9004, Above
Neutral
Bullish
India
Vix
15.19, 33.41%
Neutral
Bearish
Dollar/Rupee
64.08, 0.52%
Neutral
Bearish
Overall
S
& P 500
Nifty
Bullish
Indications
5
5
Bearish
Indications
10
12
Outlook
Bearish
Bearish
Observation
The
S and P 500 and the Nifty experienced sell offs. Indicators are bearish.
The
market is topping. Time to tighten those stops.
On
the Horizon
Japan
– GDP, China – Industrial production, Australia- RBA minutes, Employment data,
Euro Zone – German GDP, CPI, UK – CPI, Employment data, Retail sales, Canada
– CPI, U.S – Retail sales, Oil inventories, FOMC minutes
*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

 

stock market signals august 14

 

The S and P 500 and the Nifty sold off significantly last week. Signals are bearish for
the upcoming week. Past and future FED rate hikes are yet to be priced in and sentiment
indicators are finally shifting from complacency. Transports and the Yen are flashing
warning signs. 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 2450 (up) and 2430 (down) on the S & P and 9800 (up)
and 9600 (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.

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About rajveeronmarkets

I am an avid market watcher having followed capital markets in the US and India since 1993. My research interests includes areas of Capital Markets, Banking, Investment Analysis and Portfolio Management and have over 20 years of experience in the above areas covering the US and Indian Markets.
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