Market Signals for the US stock market S and P 500 Index and Indian Stock Market Nifty Index for the Week beginning June 27

Indicator	Weekly Level / Change / Significance	Implication for S & P 500	Implication for Nifty*
S & P 500	2037, -1.63%	Bearish	Bearish
Nifty	8089, -1.00%	Neutral**	Bearish
China Shanghai Index	2854, -1.07%	Bearish	Bearish
Gold	1319, 1.34%	Bullish	Bullish
WTIC Crude	47.57, -2.64%	Bearish	Bearish
Copper	2.12, 3.14%	Bullish	Bullish
Baltic Dry Index	609, 3.75%	Bullish	Bullish
Euro	1.115, -1.50%	Bearish	Bearish
Dollar/Yen	102.35, -1.71%	Bearish	Bearish
Dow Transports	7320, -3.55%	Bearish	Bearish
High Yield (ETF)	35.10, 0.43%	Neutral	Neutral
US 10 year Bond Yield	1.58%, -2.41%	Bullish	Bullish
Nyse Summation Index	772, -1.44%	Bearish	Neutral
US Vix	25.76, 32.72%	Bearish	Bearish
20 DMA, S and P 500	2021, Above	Bullish	Neutral
50 DMA, S and P 500	2092, Below	Bearish	Neutral
200 DMA, S and P 500	2080, Below	Bearish	Neutral
20 DMA, Nifty	8192, Below	Neutral	Bearish
50 DMA, Nifty	7993, Above	Neutral	Bullish
200 DMA, Nifty	7775, Above	Neutral	Bullish
India Vix	18.63, 7.36%	Neutral	Bearish
Dollar/Rupee	67.90, 1.24%	Neutral	Bearish
Overall	S & P 500	Nifty
Bullish Indications	5	6
Bearish Indications	10	11
Outlook	Bearish	Bearish
Observation	The Sand P 500 and the Nifty were down last week following Brexit. Indicators are bearish. Markets are breaking down from resistance and are headed significantly lower in the near term.
On the Horizon	China – PMI, Japan – CPI, Canada - GDP, Euro zone – German employment data, CPI, Euro Zone CPI, Euro vote on Brexit, U.S – Consumer confidence, Personal consumption expenditure, ISM
*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 the Nifty fell last week. Signals are bearish for the upcoming week. The markets are breaking down after failing at resistance several times. The Vix, Transports and the Yen are flashing crash alerts.  The India Vix is much lower than the US Vix suggesting complacency. There could be a catch up to the downside in the Indian Market soon. The critical levels to watch are 2050 (up) and 2025 (down) on the S & P and 8150 (up) and 8000 (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.