Stock Market Signals for the US and Indian Stock Markets for the Upcoming Week beginning June 8

Indicator	Weekly Level / Change / Significance	Implication for S & P 500	Implication for Nifty*
S & P 500	2093, -0.69%	Bearish	Bearish
Nifty	8115, -3.78%	Bearish	Bearish
China Shanghai Index	5023, 8.92%	Bullish	Bullish
Gold	1172, -1.57%	Bearish	Bearish
WTIC Crude	58.88, -2.24%	Bearish	Bullish
Copper	2.70, -1.21%	Bearish	Bearish
Baltic Dry Index	610, 3.57%	Bullish	Bullish
Euro	1.11, 1.02%	Bullish	Bullish
Dollar/Yen	125.52, 1.11%	Bullish	Bullish
Dow Transports	8510, 2.53%	Bullish	Bullish
US 10 year Bond Yield	2.40%, 14.65%	Bearish	Bearish
Nyse Summation Index	31, -82.27%	Bearish	Bearish
US Vix	14.21, 2.67%	Bearish	Bearish
20 DMA, S and P 500	2114, Below	Bearish	Neutral**
50 DMA, S and P 500	2101, Below	Bearish	Neutral
200 DMA, S and P 500	2045, Above	Bullish	Neutral
20 DMA, Nifty	8303, Below	Neutral	Bearish
50 DMA, Nifty	8395, Below	Neutral	Bearish
200 DMA, Nifty	8335, Below	Neutral	Bearish
India Vix	18.09, 8.58%	Neutral	Bearish
Dollar/Rupee	64.11, 0.58%	Neutral	Bearish
Overall	S & P 500	Nifty
Bullish Indications	6	6
Bearish Indications	10	12
Outlook	Bearish	Bearish
Observation	The Sand P 500 is correcting (support 2085) while the Nifty underperformed significantly last week. The summation index and treasuries are flashing warning signs.
On the Horizon	Greece, G7 meetings, US Retail Sales and PPI
*Nifty	India’s Benchmark Stock Index
Raw Data	Courtesy Google finance, Stock charts
**Neutral	Changes less than 0.5% are considered neutral

You can check out last weeks report for a comparison.

Stock Market Signals for the US and Indian Stock Markets for the Upcoming Week beginning June 1

Indicator	Weekly Level / Change / Significance	Implication for S & P 500	Implication for Nifty*
S & P 500	2107, -0.88%	Bearish	Bearish
Nifty	8434, -0.30%	Neutral**	Neutral
China Shanghai Index	4612, -0.99%	Bearish	Bearish
Gold	1191, -1.24%	Bearish	Bearish
WTIC Crude	60.23, 0.40%	Neutral	Neutral
Copper	2.73, -2.04%	Bearish	Bearish
Baltic Dry Index	589, 0.51%	Bullish	Bullish
Euro	1.099, -0.231%	Neutral	Neutral
Dollar/Yen	124.13, 2.08%	Bullish	Bullish
Dow Transports	8300, -2.15%	Bearish	Bearish
US 10 year Bond Yield	2.10%, -5.42%	Bullish	Bullish
Nyse Summation Index	175, -36.21%	Bearish	Bearish
US Vix	13.84, 14.10%	Bearish	Bearish
20 DMA, S and P 500	2112, Below	Bearish	Neutral
50 DMA, S and P 500	2099, Above	Bullish	Neutral
200 DMA, S and P 500	2042, Above	Bullish	Neutral
20 DMA, Nifty	8301, Above	Neutral	Bullish
50 DMA, Nifty	8438, Below	Neutral	Bearish
200 DMA, Nifty	8324, Above	Neutral	Bullish
India Vix	16.66, -1.71%	Neutral	Bullish
Dollar/Rupee	63.74, 0.40%	Neutral	Neutral
Overall	S & P 500	Nifty
Bullish Indications	5	6
Bearish Indications	8	8
Outlook	Bearish	Marginally Bearish
Observation	The Sand P 500 is putting in a short term top while the Nifty outperformed last week. The summation index and transports are implying deteriorating market internals. The Vix is also indicating a topping process in the market.
On the Horizon	Greece, PMI’s from US and UK, Australia (RBA), India (RBI), ECB and UK rate decisions, US and Canada employment data.
*Nifty	India’s Benchmark Stock Index
Raw Data	Courtesy Google finance, Stock charts
**Neutral	Changes less than 0.5% are considered neutral

You can check out last weeks report for a comparison.