Market Signals for the US S and P 500 Index and Indian Stock Market Nifty Index for the Week beginning October 19

Indicator	Weekly Level / Change / Significance	Implication for S & P 500	Implication for Nifty*
S & P 500	2033, 0.90%	Bullish	Bullish
Nifty	8238, 0.59%	Neutral**	Bullish
China Shanghai Index	3391, 6.54%	Bullish	Bullish
Gold	1177, 1.89%	Bullish	Bullish
WTIC Crude	47.73, -3.56%	Bearish	Bearish
Copper	2.40, -0.74%	Bearish	Bearish
Baltic Dry Index	754, -6.80%	Bearish	Bearish
Euro	1.1358, 0.00%	Neutral	Neutral
Dollar/Yen	119.46, -0.64%	Bearish	Bearish
Dow Transports	8079, -2.11%	Bearish	Bearish
US 10 year Bond Yield	2.02%, -3.62%	Bullish	Bullish
Nyse Summation Index	187, 350.17%	Bullish	Neutral
US Vix	15.05, -11.89%	Bullish	Bullish
20 DMA, S and P 500	1967, Above	Bullish	Neutral
50 DMA, S and P 500	1985, Above	Bullish	Neutral
200 DMA, S and P 500	2060, Below	Bearish	Neutral
20 DMA, Nifty	8025, Above	Neutral	Bullish
50 DMA, Nifty	8065, Above	Neutral	Bullish
200 DMA, Nifty	8376, Below	Neutral	Bearish
India Vix	16.27, -14.00%	Neutral	Bullish
Dollar/Rupee	64.71,-0.00%	Neutral	Neutral
Overall	S & P 500	Nifty
Bullish Indications	8	8
Bearish Indications	6	6
Outlook	Bullish	Bullish
Observation	The Sand P 500 and the Nifty were up last week. Indicators are bullish. The Vix is back in complacency mode and transports are flashing warning signs. We are entering a weak period for risk assets globally and declines are likely in both indices in the upcoming months following this bounce.
On the Horizon	China GDP data, ECB and Canada rate decisions, Canada CPI.
*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 markets rallied last week. Signals are marginally bullish for the upcoming week and this bounce is on the verge of completion. The S and P 500 and several global indices have completed massive bear flags which should resolve to the downside. The markets are expected to encounter resistance at higher levels on any bounces, with the 2035-2045 zone on the S and P 500 acting as major resistance. There will be more downside upcoming in the #Nifty and the S and P 500, with at least a retest of the lows for the S and P 500 near 1867 and Nifty near 7550 in the upcoming months. 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. Love your thoughts and feedback.

Market Signals for the US & Indian Stock Market for the week beginning October 19, #stocks http://t.co/MIFDgZm8Jb pic.twitter.com/9ZdsPEKWB4

— samuelR (@RajveerRawlin) October 18, 2015