Market Signals For The US Stock Market And Indian Stock Market - Monday, June 21

Indicator

Weekly Level / Change

Implication for

S&P 500

Implication for Nifty*

S&P 500

4167, -1.91%

Bearish

Bearish

Nifty

15683, -0.73%

Neutral **

Bearish

China Shanghai Index

3525, -1.80%

Bearish

Bearish

Gold

1764, -6.13%

Bearish

Bearish

WTIC Crude

71.29, 0.54%

Bullish

Bullish

Copper

4.12,-9.19%

Bearish

Bearish

Baltic Dry Index

3218, 12.64%

Bullish

Bullish

Euro

1.1863, -2.01%

Bearish

Bearish

Dollar/Yen

110.24, 0.53%

Bullish

Bullish

Dow Transports

14623, -4.60%

Bearish

Bearish

High Yield (Bond ETF)

109.26, -0.21%

Neutral

Neutral

US 10 year Bond Yield

1.44%, -1.18%

Bullish

Bullish

NYSE Summation Index

769, -8.72%

Bearish

Neutral

US Vix

20.70, 32.27%

Bearish

Bearish

Skew

151

Bearish

Bearish

20 DMA, S&P 500

4212, Below

Bearish

Neutral

50 DMA, S&P 500

4182, Below

Bearish

Neutral

200 DMA, S&P 500

3799, Above

Bullish

Neutral

20 DMA, Nifty

15603, Above

Neutral

Bullish

50 DMA, Nifty

15063, Above

Neutral

Bullish

200 DMA, Nifty

13756, Above

Neutral

Bullish

S&P 500 P/E

44.26

Bearish

Neutral

Nifty P/E

29.08

Neutral

Bearish

India Vix

14.80, 4.93%

Neutral

Bearish

Dollar/Rupee

74.12, 1.20%

Neutral

Bearish

 

 

Overall

 

 

S&P 500

 

 

Nifty

 

 

Bullish Indications

5

7

 

Bearish Indications

12

12

 

Outlook

Bearish

Bearish

 

Observation

The S&P and the Nifty fell last week. Indicators are bearish for the week.

The markets are beginning a correction. Watch those stops.

   

On the Horizon

US - GDP, China  PBOC rate decision, UK – BOE rate decision

   
       

*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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