Market Signals for the US stock market S and P 500 Index and Indian Stock Market Nifty Index for the Week beginning November 23

Indicator	Weekly Level / Change / Significance	Implication for S & P 500	Implication for Nifty*
S & P 500	2089, 3.27%	Bullish	Bullish
Nifty	7856, 1.21%	Neutral**	Bullish
China Shanghai Index	3631, 1.39%	Bullish	Bullish
Gold	1077, -0.62%	Bearish	Bearish
WTIC Crude	41.46, 1.79%	Bullish	Bullish
Copper	2.04, -5.71%	Bearish	Bearish
Baltic Dry Index	498, -11.07%	Bearish	Bearish
Euro	1.0649, -1.13%	Bearish	Bearish
Dollar/Yen	122.77, 0.14%	Neutral	Neutral
Dow Transports	8302, 3.64%	Bullish	Bullish
US 10 year Bond Yield	2.26%, -0.79%	Bullish	Bullish
Nyse Summation Index	191, -33.37%	Bearish	Neutral
US Vix	15.47, -22.96%	Bullish	Bullish
20 DMA, S and P 500	2079, Above	Bullish	Neutral
50 DMA, S and P 500	2020, Above	Bullish	Neutral
200 DMA, S and P 500	2065, Above	Bullish	Neutral
20 DMA, Nifty	7978, Below	Neutral	Bearish
50 DMA, Nifty	7984, Below	Neutral	Bearish
200 DMA, Nifty	8324, Below	Neutral	Bearish
India Vix	15.90, -9.94%	Neutral	Bullish
Dollar/Rupee	66.11, 0.02%	Neutral	Neutral
Overall	S & P 500	Nifty
Bullish Indications	9	8
Bearish Indications	5	7
Outlook	Bullish	Bullish
Observation	The Sand P 500 and the Nifty were up last week. Indicators are bullish. Markets are back at resistance and the Vix is signaling complacency. This is a holiday shortened week so market may trade in a narrow range.
On the Horizon	Japan–CPI, U.K – GDP, U.S – GDP, Personal consumption, Consumer Confidence, Durable Goods.
*Nifty	India’s Benchmark Stock Market Index
Raw Data	Courtesy Google finance, Stock charts, FXCM
**Neutral	Changes less than 0.5% are considered neutral

The US market and the Nifty rallied last week. Signals are bullish for the upcoming week. The markets are back at resistance and after this holiday shortened week and are likely to continue to correct with most emerging markets, and commodities already breaking down on a strong dollar and a hawkish FED.  The critical levels to watch are 2100 (up) and 2065 (down) on the S & P and 7900 (up) and 7700 (down) on the Nifty. A significant breach of the above levels could trigger the next big move in the markets. You can check out last week’s report for a comparison. You can also check out snapshots of the S and P 500 and Nifty Indices. Love your thoughts and feedback.

Market signals for the us stock market s and p 500 index and indian stock market nifty index for the week beginning November 23 from Rajveer Rawlin