The aims of this study is to analyze the effect of the Rupiah Exchange Rate, Consumer Price Index, Dow Jones Index, Nikkei 225 Index, and FTSE 100 Index toward the composite stock price index in Indonesia Stock Exchange. The Composite Stock Price Index (CSPI) functioned as a market trend indicator.In this research, secondary data were employed while the samples were taken through saturation sampling method from end-of-month data of each variable for four consecutive years from 2014-2017.The results revealed that Rupiah exchange rate had a negative effect on CSPI, the Dow Jones Index had a significant positive effect on the CSPI, while Consumer Price Index, Nikkei 225 Index, and FTSE 100 Index did not affect the CSPI.