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Stock Market Signals for The US and Indian Stock Markets for The Upcoming Week Beginning May18

Indicator Weekly Level / Change / Significance Implication
for S&P 500
Implication
for Nifty*
S&P 500 2123, 0.31% Neutral** Neutral
Nifty 8262, 0.90% Neutral Bullish
China Shanghai Index 4309, 2.44% Bullish Bullish
Gold 1223, 3.02% Bullish Bullish
WTIC Crude 59.96, 0.82% Bullish Bullish
Copper 2.93, 0.58% Bullish Bullish
Baltic Dry Index 634, 10.45% Bullish Bullish
Euro 1.146, 2.29% Bullish Bullish
Dollar/Yen 119.35, 0.39% Neutral Neutral
Dow Transports 8681, -0.98% Bearish Bearish
Nyse Summation Index 254, -17% Bearish Bearish
US Vix 12.38, -3.73% Bullish Bullish
20 DMA, S&P 500 2105, Above Bullish Neutral
50 DMA, S&P 500 2089, Above Bullish Neutral
200 DMA, S&P 500 2033, Above Bullish Neutral
20 DMA, Nifty 8283, Below Neutral Bearish
50 DMA, Nifty 8522, Below Neutral Bearish
200 DMA, Nifty 8299, Below Neutral Bearish
India Vix 19.82, 3.7% Neutral Bearish
Dollar/Rupee 63.38, -0.5% Neutral Bullish
       
Overall S&P 500 Nifty  
Bullish Indications 10 9  
Bearish Indications 2 6  
Outlook Bullish Bullish  
Observation The S&P 500 is at the top of its trading range close to all time highs while the Nifty is sitting just below its 20 and 200 DMA. The summation index and transports are still diverging.    
On the Horizon Greece, EU and UK Inflation Data, EU Consumer confidence, Japanese GDP, US and Canada CPI    
       
*Nifty India's Benchmark Stock Index    
Raw Data Courtesy Google finance, Stock charts    
**Neutral Changes less than 0.5% are considered neutral    

 

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