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Market Signals for the US stock market S and P 500 Index and Indian Stock Market Nifty Index for the Week beginning March 7

Indicator
Weekly Level / Change
Implication for
S & P 500
Implication for Nifty*
S & P 500
2000, 2.67%
Bullish
Bullish
Nifty
7485, 6.48%
Neutral**
Bullish
China Shanghai Index
2874, 3.86%
Bullish
Bullish
Gold
1260, 3.05%
Bullish
Bullish
WTIC Crude
36.33, 10.63%
Bullish
Bullish
Copper
2.26, 6.76%
Bullish
Bullish
Baltic Dry Index
349, 6.73%
Bullish
Bullish
Euro
1.096, 0.22%
Neutral
Neutral
Dollar/Yen
113.81, -0.14%
Neutral
Neutral
Dow Transports
7652, 3.33%
Bullish
Bullish
High Yield (ETF)
33.81, 2.82%
Bullish
Bullish
US 10 year Bond Yield
1.88%, 6.87%
Bearish
Bearish
Nyse Summation Index
324, 332.74%
Bullish
Neutral
US Vix
16.86, -14.89%
Bullish
Bullish
20 DMA, S and P 500
1919, Above
Bullish
Neutral
50 DMA, S and P 500
1938, Above
Bullish
Neutral
200 DMA, S and P 500
2023, Below
Bearish
Neutral
20 DMA, Nifty
7174, Above
Neutral
Bullish
50 DMA, Nifty
7421, Above
Neutral
Bullish
200 DMA, Nifty
7948, Below
Neutral
Bearish
India Vix
17.88, -18.21%
Neutral
Bullish
Dollar/Rupee
66.96, -2.67%
Neutral
Bullish


Overall


S & P 500


Nifty

Bullish Indications

12

13
Bearish Indications
2
2
Outlook
Bullish
Bullish
Observation
The Sand P 500 and the Nifty rallied hard last week. Indicators are bullish.
Markets are back at resistance. Looking for a retest of the recent lows soon.
On the Horizon
China – Loan data, PPI, CPI, Euro zone – GDP, ECB rate decision, New Zealand – Rate decision, Canada – Rate decision, Employment data,  
*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 and Nifty rallied strongly last week. Signals are bullish for the upcoming week. The markets are back at resistance and are likely to continue major breakdowns in 2016, looking for a retest of the recent lows soon.  The critical levels to watch are 2020 (up) and 1980 (down) on the S & P and 7600 (up) and 7400 (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. You can also check out snapshots of the S and P 500 and Nifty Indices. Love your thoughts and feedback.


This post first appeared on Ahead Of The Curve, please read the originial post: here

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Market Signals for the US stock market S and P 500 Index and Indian Stock Market Nifty Index for the Week beginning March 7

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