Market Signals For The US Stock Market And Indian Stock Market - Monday, Sept. 13

Indicator

Weekly Level / Change

Implication for

S&P 500

Implication for Nifty*

S&P 500

4459, -1.69%

Bearish

Bearish

Nifty

17369, 0.26%

Neutral **

Neutral

China Shanghai Index

3703, 3.39%

Bullish

Bullish

Gold

1789, -2.46%

Bearish

Bearish

WTIC Crude

69.69, 0.58%

Bullish

Bullish

Copper

4.43, 2.15%

Bullish

Bullish

Baltic Dry Index

3864, -2.03%

Bearish

Bearish

Euro

1.1815, -0.56%

Bearish

Bearish

Dollar/Yen

109.94, 0.19%

Neutral

Neutral

Dow Transports

14367, -2.61%

Bearish

Bearish

High Yield (Bond ETF)

109.71, -0.18%

Neutral

Neutral

US 10 year Bond Yield

1.34%, 1.30%

Bearish

Bearish

NYSE Summation Index

82, -38.00%

Bearish

Neutral

US Vix

20.95, 27.67%

Bearish

Bearish

Skew

151

Bearish

Bearish

20 DMA, S&P 500

4486, Below

Bearish

Neutral

50 DMA, S&P 500

4424, Above

Bullish

Neutral

200 DMA, S&P 500

4082, Above

Bullish

Neutral

20 DMA, Nifty

16867, Above

Neutral

Bullish

50 DMA, Nifty

16283, Above

Neutral

Bullish

200 DMA, Nifty

15034, Above

Neutral

Bullish

S&P 500 P/E

34.78

Bearish

Neutral

Nifty P/E

26.61

Neutral

Bearish

India Vix

13.94, -4.13%

Neutral

Bullish

Dollar/Rupee

73.52, 0.74%

Neutral

Bearish

 

 

Overall

 

 

S&P 500

 

 

Nifty

 

 

Bullish Indications

5

7

 

Bearish Indications

11

10

 

Outlook

Bearish

Bearish

 

Observation

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

The markets are about to begin a correction. Watch those stops.

   

On the Horizon

Eurozone – CPI, UK – Employment data, CPI, US - CPI

   
       

*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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