Interesting Market News and Views from Global Financial Markets-15

1) Dudley's Dovish Declaration Develops into a Deluge of Dollar Disposal

From www.fxstreet.com - Today, 10:05 PM

It’s been a disastrous day for the world’s reserve currency: the US Dollar Index is trading down by over 1.5% to a new 3-month low near 97.00 and the greenback is falling against every one of her major rivals.

2) Budget to Decide Market Direction: Ramesh Damani - NDTV

From profit.ndtv.com - Today, 10:03 PM

Ramesh Damani, member of the Bombay Stock Exchange (BSE), expects the upcoming union budget to decide the fate of stock markets in the medium term.

3) Wednesday Report... Inflection Points Galore | Rambus Chartology | Safehaven.com

From safehaven.com - Today, 10:02 PM

There is alot of action going on this week in all the different areas of the markets. The PM complex has been rallying, the US dollar tanking today and the stock markets trying to make up their mind which way they want to go ...

4) (DJI), SPDR Dow Jones Industrial Average ETF (ETF:DIA) - The Dow Just Did Something It's Only Done 17 Times In 70 Years

From www.benzinga.com - February 3, 8:52 PM

The Dow Jones Industrial Average just alternated 1% moves up and down for 4 days in a row – just the 17th such stretch in the last 70 years. The stock ...

5) The Next Generational Bust Is Coming, Stock Market 70% Collapse :: The Market Oracle :: Financial Markets Analysis & Forecasting Free Website

From www.marketoracle.co.uk - February 3, 8:51 PM

The Next Generational Bust Is Coming, Stock Market 70% Collapse :: The Market Oracle :: Financial Markets Analysis & Forecasting Free Website

6) Short term rally over, not ruling out a 1000 point decline in Nifty | Aditya Trading Solutions | ATS Research | Equity Indices | Nifty | Indian Stock Markets - Aditya Trading Solutions : IndiaNotes...

From www.indianotes.com - February 3, 7:29 PM

On 01 Feb'16, market made a high of 7600.45 & on the consecutive days, we have been seeing continuous weakness.

Market Signals for the US stock market S and P 500 Index and Indian Stock Market Nifty Index for the Week beginning February 1

Indicator	Weekly Level / Change / Significance	Implication for S & P 500	Implication for Nifty*
S & P 500	1940, 1.75%	Bullish	Bullish
Nifty	7564, 1.90%	Neutral**	Bullish
China Shanghai Index	2738, -6.14%	Bearish	Bearish
Gold	1118, 1.84%	Bullish	Bullish
WTIC Crude	33.74, 4.62%	Bullish	Bullish
Copper	2.06, 2.90%	Bullish	Bullish
Baltic Dry Index	317, -10.45%	Bearish	Bearish
Euro	1.083, -0.35%	Neutral	Neutral
Dollar/Yen	121.05, 1.93%	Bullish	Bullish
Dow Transports	6907, 1.89%	Bullish	Bullish
High Yield (ETF)	33.21, 0.76%	Bullish	Bullish
US 10 year Bond Yield	1.93%, -5.71%	Bullish	Bullish
Nyse Summation Index	-725, 5.82%	Bullish	Neutral
US Vix	20.20, -9.58%	Bullish	Bullish
20 DMA, S and P 500	1925, Above	Bullish	Neutral
50 DMA, S and P 500	2008, Below	Bearish	Neutral
200 DMA, S and P 500	2046, Below	Bearish	Neutral
20 DMA, Nifty	7536, Above	Neutral	Bullish
50 DMA, Nifty	7705, Below	Neutral	Bearish
200 DMA, Nifty	8088, Below	Neutral	Bearish
India Vix	17.24, -8.40%	Neutral	Bullish
Dollar/Rupee	67.88, 0.44%	Neutral	Neutral
Overall	S & P 500	Nifty
Bullish Indications	11	12
Bearish Indications	4	5
Outlook	Bullish	Bullish
Observation	The Sand P 500 and the Nifty rallied last week on what will prove to be yet another failed. QE from Japan. Indicators are bullish. Looking for the current bounce to hit overhead resistance at slightly higher levels.
On the Horizon	Australia– Rate decision,  Canada – Employment data, China-PMI, New Zealand – Employment data, Euro zone – German Employment data, U.K – Rate decision, U.S – Employment data, ISM data, India - Rate decision.
*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 Nifty rallied last week as expected. Signals are bullish for the upcoming week. The markets are in crash mode and are likely to continue major breakdowns in 2016 after this oversold bounce hits resistance near the 1980 mark on the S&P. The critical levels to watch are 1960 (up) and 1920 (down) on the S & P and 7600 (up) and 7500 (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.