Market Signals for the US stock market S and P 500 Index and Indian Stock Market Nifty Index for the Week beginning April 09

Indicator
Weekly
Level / Change
Implication
for
S
& P 500
Implication
for Nifty*
S
& P 500
2605, -1.38%
Bearish
Bearish
Nifty
10332, 2.15%
Neutral
**
Bullish
China
Shanghai Index
3131, -0.93%
Bearish
Bearish
Gold
1336, 0.66%
Bullish
Bullish
WTIC
Crude
62.06, -4.43%
Bearish
Bearish
Copper
3.06, 1.09%
Bullish
Bullish
Baltic
Dry Index
953, -11.76%
Bearish
Bearish
Euro
1.2293, -0.12%
Neutral
Neutral
Dollar/Yen
106.91, 0.47%
Neutral
Neutral
Dow
Transports
10146, -2.41%
Bearish
Bearish
High
Yield (ETF)
35.74, 0.11%
Neutral
Neutral
US
10 year Bond Yield
2.78%, 1.24%
Bearish
Bearish
Nyse
Summation Index
31, 100.91%
Bullish
Neutral
US
Vix
21.49, 7.61%
Bearish
Bearish
Skew
122
Neutral
Bearish
20
DMA, S and P 500
2679, Below
Bearish
Neutral
50
DMA, S and P 500
2710, Below
Bearish
Neutral
200
DMA, S and P 500
2594, Above
Bearish
Neutral
20
DMA, Nifty
10222, Below
Neutral
Bearish
50
DMA, Nifty
10464, Below
Neutral
Bearish
200
DMA, Nifty
10195, Above
Neutral
Bullish
India
Vix
14.75, -6.41%
Neutral
Bullish
Dollar/Rupee
64.89, -0.21%
Neutral
Neutral
Overall
S
& P 500
Nifty
Bullish
Indications
3
4
Bearish
Indications
10
10
Outlook
Bearish
Bearish
Observation
The
S and P 500 fell and the Nifty rallied last week. Indicators are bearish.
The
markets have made important tops. Time to watch those stops.
On
the Horizon
Euro Zone
ECB monetary policy minutes, U.S
PPI, CPI, 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 april 09
The S and
P 500 fell and the Nifty rallied 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 as the nifty is close to resistance while the
US market is at major support so there is complacency and some catch up left on
the down side in India. The critical levels to watch are 2615 (up) and 2590 (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.

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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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