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Weekly Stock Market Signals for The US and Indian Stock Markets for The Upcoming Week Beginning May 11

Indicator Weekly Level / Change / Significance Implication
for S&P 500
Implication
for Nifty*
S&P 500 2116, 0.40% Neutral** Neutral
Nifty 8192, 0.10% Neutral Neutral
China Shanghai Index 4206, -5.3% Bearish Bearish
Gold 1187, 0.90% Bullish Bullish
WTIC Crude 59.5, 0.40% Neutral Neutral
Copper 2.91, -0.90% Bearish Bearish
Baltic Dry Index 574, -2.20% Bearish Bearish
Euro 1.120, 0.10% Neutral Neutral
Dollar/Yen 119.76, -0.3% Neutral Neutral
Dow Transports 8767, 0.30% Neutral Neutral
Nyse Summation Index 306, -37% Bearish Bearish
US Vix 12.86, 1.30% Bearish Bearish
20 DMA, S and P 500 2102, Above Bullish Neutral
50 DMA, S and P 500 2089, Above Bullish Neutral
200 DMA, S and P 500 2030, Above Bullish Neutral
20 DMA, Nifty 8417, Below Neutral Bearish
50 DMA, Nifty 8574, Below Neutral Bearish
200 DMA, Nifty 8271, Below Neutral Bearish
India Vix 19.11, 11% Neutral Bearish
Dollar/Rupee 63.75, 0.1% Neutral Neutral
       
Overall  S&P 500 Nifty  
Bullish Indications 4 1  
Bearish Indications 5 9  
Outlook Marginally Bearish Bearish  
Observation The Sand P 500 is at the top of its trading range while the Nifty is at the lower end of its range. The summation index is still flashing warning signs.    
On the Horizon Greece, Italy and German GDP, US PPI and retail sales    
       
*Nifty India's Benchmark Stock Index    
Raw Data Courtesy Google finance, Stock charts    
**Neutral Changes less than 0.5% are considered neutral    

I have added three new indicators this week, the Chinese stock market index, the India Vix and the Dollar/Rupee rate.

 

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