Market Signals for the US stock market S and P 500 Index and Indian Stock Market Nifty Index for the Week beginning April 16

Indicator
Weekly
Level / Change
Implication
for
S
& P 500
Implication
for Nifty*
S
& P 500
2656, 1.99%
Bullish
Bullish
Nifty
10481, 1.44%
Neutral
**
Bullish
China
Shanghai Index
3159, 0.89%
Bullish
Bullish
Gold
1348, 0.88%
Bullish
Bullish
WTIC
Crude
67.39, 8.59%
Bullish
Bullish
Copper
3.07, 0.41%
Neutral
Neutral
Baltic
Dry Index
993, 4.20%
Bullish
Bullish
Euro
1.2344, 0.42%
Neutral
Neutral
Dollar/Yen
107.35, 0.41%
Neutral
Neutral
Dow
Transports
10370, 2.20%
Bullish
Bullish
High
Yield (ETF)
36.16, 1.18%
Bullish
Bullish
US
10 year Bond Yield
2.78%, 1.24%
Bearish
Bearish
Nyse
Summation Index
113, 262.20%
Bullish
Neutral
US
Vix
17.41, -18.99%
Bullish
Bullish
Skew
126
Neutral
Neutral
20
DMA, S and P 500
2649, Above
Bullish
Neutral
50
DMA, S and P 500
2690, Below
Bearish
Neutral
200
DMA, S and P 500
2599, Above
Bullish
Neutral
20
DMA, Nifty
10243, Above
Neutral
Bullish
50
DMA, Nifty
10400, Above
Neutral
Bullish
200
DMA, Nifty
10216, Above
Neutral
Bullish
India
Vix
14.14, -4.12%
Neutral
Bullish
Dollar/Rupee
65.20, 0.48%
Neutral
Neutral
Overall
S
& P 500
Nifty
Bullish
Indications
11
13
Bearish
Indications
2
1
Outlook
Bullish
Bullish
Observation
The
S and P 500 and the Nifty rallied last week. Indicators are bullish.
The
markets have made important tops. Time to watch those stops.
On
the Horizon
Australia
– RBA minutes, Employment data, New
Zealand
– CPI, China
Industrial production, GDP, Euro Zone
German ZEW economic sentiment, CPI, UK
Employment data, CPI, Retail sales, U.S
– Retail sales, Oil inventories, Canada
– BOC rate decision, CPI, Retail sales   
*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 16
Chart courtesy David Rosenberg 

The S and
P 500 and the Nifty rallied last week. Indicators are bullish 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. Indian market volatility is still
well below US market volatility as the nifty is close to resistance while the
US market is close to major support so there is complacency and some catch up
left on the down side in India. The critical levels to watch are 2670 (up) and 2645 (down) on the S & P and 10550 (up) and 10400 (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.

via Blogger https://ift.tt/2HFatwo

Advertisements

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.
This entry was posted in Stock Market and tagged , , , , , . Bookmark the permalink.

Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s