Market Signals for the US stock market S and P 500 Index and Indian Stock Market Nifty Index for the Week beginning August 28


 

Indicator
Weekly
Level / Change
Implication
for
S
& P 500
Implication
for Nifty*
S
& P 500
2443, 0.72%
Bullish
Bullish
Nifty
9857, 0.20%
Neutral
**
Neutral
China
Shanghai Index
3332, 1.92%
Bullish
Bullish
Gold
1299, 0.49%
Neutral
Neutral
WTIC
Crude
47.87, -1.62%
Bearish
Bearish
Copper
3.06, 3.98%
Bullish
Bullish
Baltic
Dry Index
1200, -3.77%
Bearish
Bearish
Euro
1.1931, 1.46%
Bullish
Bullish
Dollar/Yen
109.33, 0.13%
Neutral
Neutral
Dow
Transports
9134, 0.42%
Neutral
Neutral
High
Yield (ETF)
37.13, 0.87%
Bullish
Bullish
US
10 year Bond Yield
2.17%, -1.14%
Bullish
Bullish
Nyse
Summation Index
172, -28.60%
Bearish
Neutral
US
Vix
11.28, -20.90%
Bullish
Bullish
Skew
130
Neutral
Neutral
20
DMA, S and P 500
2457, Below
Bearish
Neutral
50
DMA, S and P 500
2451, Below
Bearish
Neutral
200
DMA, S and P 500
2355, Above
Bullish
Neutral
20
DMA, Nifty
9926, Below
Neutral
Bearish
50
DMA, Nifty
9805, Above
Neutral
Bullish
200
DMA, Nifty
9054, Above
Neutral
Bullish
India
Vix
12.57, -13.71%
Neutral
Bullish
Dollar/Rupee
63.87, -0.32%
Neutral
Neutral
Overall
S
& P 500
Nifty
Bullish
Indications
8
10
Bearish
Indications
5
3
Outlook
Bullish
Bullish
Observation
The
S and P 500 and the Nifty moved up marginally last week. Indicators are bullish.
The
market is topping. Time to tighten those stops.
On
the Horizon
China
– PMI, Euro Zone – German employment data, CPI, German PMI, UK – PMI, Canada
– GDP, U.S – Consumer confidence, Oil inventories, employment data, GDP, ISM
index
*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 28

 

The S and P 500 and the Nifty bounced slightly 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. 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 2455 (up) and 2430 (down) on the S & P and 9900 (up)
and 9800 (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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