Market Signals for the US stock market S and P 500 Index and Indian Stock Market Nifty Index for the Week beginning March 26

Indicator
Weekly
Level / Change
Implication
for
S
& P 500
Implication
for Nifty*
S
& P 500
2588, -5.95%
Bearish
Bearish
Nifty
9998, -1.93%
Neutral
**
Bearish
China
Shanghai Index
3153, -3.58%
Bearish
Bearish
Gold
1350, 2.87%
Bullish
Bullish
WTIC
Crude
65.88, 5.56%
Bullish
Bullish
Copper
2.99, -3.68%
Bearish
Bearish
Baltic
Dry Index
1117, -2.87%
Bearish
Bearish
Euro
1.2357, 0.50%
Bullish
Bullish
Dollar/Yen
104.81, -1.15%
Bearish
Bearish
Dow
Transports
10163, -4.87%
Bearish
Bearish
High
Yield (ETF)
35.62, -0.97%
Bearish
Bearish
US
10 year Bond Yield
2.83%, -0.63%
Bullish
Bullish
Nyse
Summation Index
129, -54.44%
Bearish
Neutral
US
Vix
24.87, 57.41%
Bearish
Bearish
Skew
131
Neutral
Bearish
20
DMA, S and P 500
2724, Below
Bearish
Neutral
50
DMA, S and P 500
2742, Below
Bearish
Neutral
200
DMA, S and P 500
2585, Above
Bullish
Neutral
20
DMA, Nifty
10306, Below
Neutral
Bearish
50
DMA, Nifty
10549, Below
Neutral
Bearish
200
DMA, Nifty
10173, Below
Neutral
Bearish
India
Vix
15.55, 2.14%
Neutral
Bearish
Dollar/Rupee
65.02, -0.10%
Neutral
Neutral
Overall
S
& P 500
Nifty
Bullish
Indications
5
4
Bearish
Indications
11
14
Outlook
Bearish
Bearish
Observation
The
S and P 500 and the Nifty fell last week. Indicators are bearish.
The
markets have made important tops. Time to watch those stops.
On
the Horizon
China – PMI, Euro Zone – German employment data, UK – GDP, U.S – Consumer Confidence, Home sales, Oil inventories, GDP, Canada – GDP
*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 march 26

The S and
P 500 and the Nifty fell hard last week. Indicators are bearish for the
upcoming week. Quantitative tightening by the FED is yet to be priced in fully.
The markets are still trading well over 3 standard deviations above their long
term averages from which corrections usually result. The yen and other safe
haven asset classes are flashing warning signs. Indian market volatility is still
well below US market volatility so there is complacency and some catch up left
on the down side. The critical levels to watch are 2600 (up) and 2575 (down) on the S & P and 10100 (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.

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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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