Market Signals For The US Stock Market And Indian Stock Market - Monday, Aug. 9

Indicator

Weekly Level / Change

Implication for

S&P 500

Implication for Nifty*

S&P 500

4437, 0.94%

Bullish

Bullish

Nifty

16238, 3.01%

Neutral **

Bullish

China Shanghai Index

3458, 1.79%

Bullish

Bullish

Gold

1764, -2.96%

Bearish

Bearish

WTIC Crude

67.89, -8.19%

Bearish

Bearish

Copper

4.34, -3.56%

Bearish

Bearish

Baltic Dry Index

3371, 2.40%

Bullish

Bullish

Euro

1.1761, -0.92%

Bearish

Bearish

Dollar/Yen

110.24, 0.49%

Neutral

Neutral

Dow Transports

14502, 0.29%

Neutral

Neutral

High Yield (Bond ETF)

109.09, -0.62%

Bearish

Bearish

US 10 year Bond Yield

1.31%, 6.48%

Bearish

Bearish

NYSE Summation Index

143, 9.29%

Bullish

Neutral

US Vix

16.15, -11.46%

Bullish

Bullish

Skew

148

Bearish

Bearish

20 DMA, S&P 500

4383, Above

Bullish

Neutral

50 DMA, S&P 500

4307, Above

Bullish

Neutral

200 DMA, S&P 500

3962, Above

Bullish

Neutral

20 DMA, Nifty

15880, Above

Neutral

Bullish

50 DMA, Nifty

15788, Above

Neutral

Bullish

200 DMA, Nifty

14497, Above

Neutral

Bullish

S&P 500 P/E

34.61

Bearish

Neutral

Nifty P/E

26.51

Neutral

Bearish

India Vix

12.61, -1.52%

Neutral

Bullish

Dollar/Rupee

74.24, -0.13%

Neutral

Neutral

 

 

Overall

 

 

S&P 500

 

 

Nifty

 

 

Bullish Indications

8

9

 

Bearish Indications

8

8

 

Outlook

Neutral

Bullish

 

Observation

The S&P and the Nifty rallied last week. Indicators are mixed for the week.

The markets are beginning a correction. Watch those stops.

   

On the Horizon

UK – GDP, USA – CPI, PPI

   

*Nifty

India’s Benchmark Stock Market Index

   

Raw Data

Courtesy Stock charts, investing.com, multpl.com, NSE

   

**Neutral

Changes less than 0.5% are considered neutral

   
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Disclaimer: The views expressed here are my own and must not be taken as advice to buy or sell securities.

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