Stock Market Signals for the US and Indian Stock Markets for the Upcoming Week beginning June 1

Indicator	Weekly Level / Change / Significance	Implication for S & P 500	Implication for Nifty*
S & P 500	2107, -0.88%	Bearish	Bearish
Nifty	8434, -0.30%	Neutral**	Neutral
China Shanghai Index	4612, -0.99%	Bearish	Bearish
Gold	1191, -1.24%	Bearish	Bearish
WTIC Crude	60.23, 0.40%	Neutral	Neutral
Copper	2.73, -2.04%	Bearish	Bearish
Baltic Dry Index	589, 0.51%	Bullish	Bullish
Euro	1.099, -0.231%	Neutral	Neutral
Dollar/Yen	124.13, 2.08%	Bullish	Bullish
Dow Transports	8300, -2.15%	Bearish	Bearish
US 10 year Bond Yield	2.10%, -5.42%	Bullish	Bullish
Nyse Summation Index	175, -36.21%	Bearish	Bearish
US Vix	13.84, 14.10%	Bearish	Bearish
20 DMA, S and P 500	2112, Below	Bearish	Neutral
50 DMA, S and P 500	2099, Above	Bullish	Neutral
200 DMA, S and P 500	2042, Above	Bullish	Neutral
20 DMA, Nifty	8301, Above	Neutral	Bullish
50 DMA, Nifty	8438, Below	Neutral	Bearish
200 DMA, Nifty	8324, Above	Neutral	Bullish
India Vix	16.66, -1.71%	Neutral	Bullish
Dollar/Rupee	63.74, 0.40%	Neutral	Neutral
Overall	S & P 500	Nifty
Bullish Indications	5	6
Bearish Indications	8	8
Outlook	Bearish	Marginally Bearish
Observation	The Sand P 500 is putting in a short term top while the Nifty outperformed last week. The summation index and transports are implying deteriorating market internals. The Vix is also indicating a topping process in the market.
On the Horizon	Greece, PMI’s from US and UK, Australia (RBA), India (RBI), ECB and UK rate decisions, US and Canada employment data.
*Nifty	India’s Benchmark Stock Index
Raw Data	Courtesy Google finance, Stock charts
**Neutral	Changes less than 0.5% are considered neutral

You can check out last weeks report for a comparison.