market signals for the us stock market s and p 500 index and indian stock market nifty index for...
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Market Signals for the US stock market S and P 500 Index andIndian Stock Market Nifty Index for the Week beginningNovember 23
Indicator Weekly Level / Change / Significance Implicationfor
S & P 500
Implicationfor Nifty*
S & P 500 2089, 3.27% Bullish Bullish
Nifty 7957, 1.21% Neutral** Bullish
ChinaShanghai
Index
3631, 1.39% Bullish Bullish
Gold 1077, -0.62% Bearish Bearish
WTIC Crude 41.46, 1.79% Bullish Bullish
Copper 2.04, -5.71% Bearish Bearish
Baltic DryIndex
498, -11.07% Bearish Bearish
Euro 1.0649, -1.13% Bearish Bearish
Dollar/Yen 122.77, 0.14% Neutral Neutral
DowTransports
8302, 3.64% Bullish Bullish
US 10 yearBond Yield
2.26%, -0.79% Bullish Bullish
NyseSummation
Index
191, -33.37% Bearish Neutral
US Vix 15.47, -22.96% Bullish Bullish
20 DMA, Sand P 500
2079, Above Bullish Neutral
50 DMA, Sand P 500
2020, Above Bullish Neutral
200 DMA, Sand P 500
2065, Above Bullish Neutral
20 DMA,Nifty
7978, Below Neutral Bearish
50 DMA,Nifty
7984, Below Neutral Bearish
200 DMA,Nifty
8324, Below Neutral Bearish
India Vix 15.90, -9.94% Neutral Bullish
Dollar/Rupee 66.11, 0.02% Neutral Neutral
Overall S & P 500 Nifty
BullishIndications
9 8
BearishIndications
5 7
Outlook Bullish Bearish
Observation The Sand P 500 and the Nifty were up last week. Indicators arebullish. Markets are back at resistance and the Vix is signalingcomplacency. This is a holiday shortened week so market may
trade in a narrow range.
On theHorizon
Japan–CPI, U.K – GDP, U.S – GDP, Personal consumption,Consumer Confidence, Durable Goods.
*Nifty India’s Benchmark Stock Market Index
Raw Data Courtesy Google finance, Stock charts, FXCM
**Neutral Changes less than 0.5% are considered neutral
The US market was and the Nifty rallied last week. Signals are bullish for the upcoming week. The markets areback at resistance and after this holiday shortened week and are likely to continue to correct with most emergingmarkets, and commodities already breaking down on a strong dollar and a hawkish FED. The critical levels towatch are 2100 (up) and 2065 (down) on the S & P and 7900 (up) and 7700 (down) on the Nifty. A significantbreach of the above levels could trigger the next big move in the markets. You can check out lastweek’s report for a comparison. You can also check out snapshots of the S and P 500 and Nifty Indices. Loveyour thoughts and feedback.