Market Signals for the US S and P 500 Index and Indian Stock Market Nifty Index for the Week beginning August 24

Indicator	Weekly Level / Change / Significance	Implication for S & P 500	Implication for Nifty*
S & P 500	1971, -5.77%	Bearish	Bearish
Nifty	8300, -2.57%	Neutral**	Bearish
China Shanghai Index	3508, -11.54%	Bearish	Bearish
Gold	1160, 4.20%	Bullish	Bullish
WTIC Crude	40.29, -4.48%	Bearish	Bearish
Copper	2.30, -2.03%	Bearish	Bearish
Baltic Dry Index	994, -5.78%	Bearish	Bearish
Euro	1.1388, 2.62%	Bullish	Bullish
Dollar/Yen	122.07, -1.85%	Bearish	Bearish
Dow Transports	7872, -5.37%	Bearish	Bearish
US 10 year Bond Yield	2.05%, -6.47%	Bullish	Bullish
Nyse Summation Index	-392, -31.65%	Bearish	Neutral
US Vix	28.03, 118.47%	Bearish	Bearish
20 DMA, S and P 500	2083, Below	Bearish	Neutral
50 DMA, S and P 500	2091, Below	Bearish	Neutral
200 DMA, S and P 500	2078, Below	Bearish	Neutral
20 DMA, Nifty	8457, Below	Neutral	Bearish
50 DMA, Nifty	8425, Below	Neutral	Bearish
200 DMA, Nifty	8458, Below	Neutral	Bearish
India Vix	17.11, 6.84%	Neutral	Bearish
Dollar/Rupee	66.21, 1.67%	Neutral	Bearish
Overall	S & P 500	Nifty
Bullish Indications	3	3
Bearish Indications	12	14
Outlook	Bearish	Bearish
Observation	The Sand P 500 and Nifty were down hard last week. Indicators are oversold but bearish. The Vix is flashing crash signs.  Looking for more downside in the Nifty and the S and P 500 after an oversold bounce.
On the Horizon	US Durable Goods and Consumer Confidence, Japan and German CPI, US, UK and Swiss GDP
*Nifty	India’s Benchmark Stock Index
Raw Data	Courtesy Google finance, Stock charts, Dailyfx
**Neutral	Changes less than 0.5% are considered neutral

Signals are highly bearish for the upcoming week and markets are in crash mode. Indicators are oversold, will be looking for an oversold bounce up to 1950 on the S and P after which there will be more downside in the Nifty and the S and P 500. You can check out last weeks report for a comparison. You can also check out snapshots of the S and P 500 and Nifty Indices.