Market Signals for the US stock market S and P 500 Index and Indian Stock Market Nifty Index for the Week beginning June 20

Indicator	Weekly Level / Change	Implication for S & P 500	Implication for Nifty*
S & P 500	2071, -1.19%	Bearish	Bearish
Nifty	8170, 0.00%	Neutral**	Neutral
China Shanghai Index	2885, -1.44%	Bearish	Bearish
Gold	1302, 1.98%	Bullish	Bullish
WTIC Crude	48.86, -0.04%	Neutral	Neutral
Copper	2.05, 1.33%	Bullish	Bullish
Baltic Dry Index	587, -3.93%	Bearish	Bearish
Euro	1.122, -0.22%	Neutral	Neutral
Dollar/Yen	104.22, -2.51%	Bearish	Bearish
Dow Transports	7590, -2.25%	Bearish	Bearish
High Yield (ETF)	34.95, -0.94%	Bearish	Bearish
US 10 year Bond Yield	1.62%, -1.28%	Bullish	Bullish
Nyse Summation Index	784, -20.89%	Bearish	Neutral
US Vix	19.41, 13.98%	Bearish	Bearish
20 DMA, S and P 500	2089, Below	Bearish	Neutral
50 DMA, S and P 500	2078, Below	Bearish	Neutral
200 DMA, S and P 500	2017, Above	Bullish	Neutral
20 DMA, Nifty	8123, Above	Neutral	Bullish
50 DMA, Nifty	7935, Above	Neutral	Bullish
200 DMA, Nifty	7768, Above	Neutral	Bullish
India Vix	17.35, 8.64%	Neutral	Bearish
Dollar/Rupee	67.06, 0.14%	Neutral	Neutral
Overall	S & P 500	Nifty
Bullish Indications	4	6
Bearish Indications	10	8
Outlook	Bearish	Bearish
Observation	The S and P 500 fell and the Nifty was unchanged last week. Indicators are bearish. Markets are breaking down from resistance. Time to tighten those stops.
On the Horizon	Euro zone – German ZEW survey, England – Brexit vote, U.S – 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 S and P 500 fell and the Nifty was unchanged last week. Signals are bearish for the upcoming week. The Vix, transports and the yen are flashing major warning signs. The markets are breaking down from resistance and are likely to continue major breakdowns in 2016. The critical levels to watch are 2080 (up) and 2060 (down) on the S & P and 8250 (up) and 8100 (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 support and resistance levels of the S and P 500 and Nifty Indices. Love your thoughts and feedback.