Market Signals for the US stock market S and P 500

Index and Indian Stock Market Nifty Index for the Week
beginning March 26
rajveersmarketviews.blogspot.in/2018/03/stock-market-signals-march-26.html

Indicator Weekly Level / Change Implication Implication

for for Nifty*
S & P 500

S & P 500 2588, -5.95% Bearish Bearish

Nifty 9998, -1.93% Neutral ** Bearish

China 3153, -3.58% Bearish Bearish

Shanghai
Index

Gold 1350, 2.87% Bullish Bullish

WTIC Crude 65.88, 5.56% Bullish Bullish

Copper 2.99, -3.68% Bearish Bearish

Baltic Dry 1117, -2.87% Bearish Bearish

Index

Euro 1.2357, 0.50% Bullish Bullish

Dollar/Yen 104.81, -1.15% Bearish Bearish

Dow 10163, -4.87% Bearish Bearish

Transports

High Yield 35.62, -0.97% Bearish Bearish

(ETF)

US 10 year 2.83%, -0.63% Bullish Bullish

Bond Yield

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 Nyse 129, -54.44% Bearish Neutral
Summation
Index

US Vix 24.87, 57.41% Bearish Bearish

Skew 131 Neutral Bearish

20 DMA, S 2724, Below Bearish Neutral

and P 500

50 DMA, S 2742, Below Bearish Neutral

and P 500

200 DMA, S 2585, Above Bullish Neutral

and P 500

20 DMA, 10306, Below Neutral Bearish

Nifty

50 DMA, 10549, Below Neutral Bearish

Nifty

200 DMA, 10173, Below Neutral Bearish

Nifty

India Vix 15.55, 2.14% Neutral Bearish

Dollar/Rupee 65.02, -0.10% Neutral Neutral

Overall S & P 500 Nifty

5 4
Bullish
Indications

Bearish 11 14
Indications

Outlook Bearish Bearish

Observation The S and P 500 and the Nifty fell last week. Indicators
are bearish.
The markets have made important tops. Time to watch
those stops.

On the China – PMI, Euro Zone – German employment data,

Horizon UK – GDP, U.S – Consumer Confidence, Home sales, Oil
inventories, GDP, Canada – GDP

*Nifty India’s Benchmark Stock Market Index

Raw Data Courtesy Google finance, Stock charts, investing.com

**Neutral Changes less than 0.5% are considered neutral

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The S and P 500 and the Nifty fell hard last week. Indicators are bearish for the upcoming
week. Quantitative tightening by the FED is yet to be priced in fully. The markets are still
trading well over 3 standard deviations above their long term averages from which
corrections usually result. The yen and other safe haven asset classes are flashing warning
signs. Indian market volatility is still well below US market volatility so there is complacency
and some catch up left on the down side. The critical levels to watch are 2600 (up) and
2575 (down) on the S & P and 10100 (up) and 9900 (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. Love your thoughts and feedback.

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