Market Signals for the US stock market S and P 500 Index and Indian Stock Market Nifty Index for the Week beginning April 25

Indicator	Weekly Level / Change	Implication for S & P 500	Implication for Nifty*
S & P 500	2092, 0.52%	Bullish	Bullish
Nifty	7899, 0.62%	Neutral**	Bullish
China Shanghai Index	2959, -3.86%	Bearish	Bearish
Gold	1234, -0.17%	Neutral	Neutral
WTIC Crude	43.75, 4.79%	Bullish	Bullish
Copper	2.27, 5.34%	Bullish	Bullish
Baltic Dry Index	659, 8.35%	Bullish	Bullish
Euro	1.129, 0.07%	Neutral	Neutral
Dollar/Yen	111.71, 2.70%	Bullish	Bullish
Dow Transports	8086, 1.35%	Bullish	Bullish
High Yield (ETF)	35.04, 1.39%	Bullish	Bullish
US 10 year Bond Yield	1.88%, 7.76%	Bearish	Bearish
Nyse Summation Index	1168, 14.48%	Bullish	Neutral
US Vix	13.22, -2.94%	Bullish	Bullish
20 DMA, S and P 500	2069, Above	Bullish	Neutral
50 DMA, S and P 500	2013, Above	Bullish	Neutral
200 DMA, S and P 500	2015, Above	Bullish	Neutral
20 DMA, Nifty	7724, Above	Neutral	Bullish
50 DMA, Nifty	7462, Above	Neutral	Bullish
200 DMA, Nifty	7864, Above	Neutral	Bullish
India Vix	16.38, 2.15%	Neutral	Bearish
Dollar/Rupee	66.66, 0.08%	Neutral	Neutral
Overall	S & P 500	Nifty
Bullish Indications	13	12
Bearish Indications	2	3
Outlook	Bullish	Bullish
Observation	The Sand P 500 and the Nifty rallied slightly last week. Indicators are bullish. Markets are back at resistance. Time to tighten those stops as downside may resume any moment.
On the Horizon	Australia - CPI, New Zealand – Rate decision, Japan - Rate decision, CPI, China – PMI, Euro Zone – German employment data, CPI, Euro zone CPI, GDP, U.K – GDP, Canada – GDP, U.S – Durable goods, Consumer confidence, FOMC rate decision, Personal consumption data, GDP
*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 Vix is suggesting complacency. The markets are back at resistance and are likely to continue major breakdowns in 2016 as the recent rally is about to conclude. A big move is imminent.  The critical levels to watch are 2100 (up) and 2080 (down) on the S & P and 7950 (up) and 7850 (down) on the Nifty. A significant breach of the above levels could trigger the next big move in the above 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.