Market Signals for the US stock market S and P 500 Index and Indian Stock Market Nifty Index for the Week beginning February 05

Indicator
Weekly
Level / Change
Implication
for
S
& P 500
Implication
for Nifty*
S
& P 500
2762, -3.85%
Bearish
Bearish
Nifty
10761, -2.79%
Neutral
**
Bearish
China
Shanghai Index
3462, -2.70%
Bearish
Bearish
Gold
1337, -1.09%
Bearish
Bearish
WTIC
Crude
65.45, -1.04%
Bearish
Bearish
Copper
3.19, -0.36%
Neutral
Neutral
Baltic
Dry Index
1114, -8.46%
Bearish
Bearish
Euro
1.2458, 0.25%
Neutral
Neutral
Dollar/Yen
110.17, 1.41%
Bullish
Bullish
Dow
Transports
10687, -3.94%
Bearish
Bearish
High
Yield (ETF)
36.27, -1.33%
Bearish
Bearish
US
10 year Bond Yield
2.85%, 7.21%
Bearish
Bearish
Nyse
Summation Index
384, -44.58%
Bearish
Neutral
US
Vix
17.31, 56.23%
Bearish
Bearish
Skew
127
Neutral
Neutral
20
DMA, S and P 500
2802, Below
Bearish
Neutral
50
DMA, S and P 500
2715, Above
Bullish
Neutral
200
DMA, S and P 500
2532, Above
Bullish
Neutral
20
DMA, Nifty
10846, Below
Neutral
Bearish
50
DMA, Nifty
10546, Above
Neutral
Bullish
200
DMA, Nifty
10013, Above
Neutral
Bullish
India
Vix
15.25, -12.89%
Neutral
Bullish
Dollar/Rupee
64.23, 0.93%
Neutral
Bearish
Overall
S
& P 500
Nifty
Bullish
Indications
3
4
Bearish
Indications
11
12
Outlook
Bearish
Bearish
Observation
The
S and P 500 and the Nifty fell sharply last week. Indicators are bearish.
The
markets are making important tops. Time to watch those stops.
On
the Horizon
Australia
– Retail sales, RBA rate decision, New
Zealand
– Employment data, RBNZ rate decision, China – PMI, UK – PMI
data, BOE rate decision, Manufacturing production, U.S – ISM data, Oil inventories, Canada – PMI, Employment data,  India
– Rate decision, Russia – Rate
decision
*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 february 05
The S and
P 500 and the Nifty fell sharply last week. Signals are bearish for the
upcoming week. Quantitative tightening by the FED is yet to be priced in fully 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. Divergences in high yield, transports and surging
bond yields are flashing some warning signs. An interest rate shock can’t be
ruled out. The critical levels to watch are 2775 (up) and 2750(down) on the S
& P and 10850 (up) and 10700 (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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