Stock Market Signals for the US S and P 500 Index and Indian Stock Market Nifty Index for the Week beginning August 10

Indicator	Weekly Level / Change / Significance	Implication for S & P 500	Implication for Nifty*
S & P 500	2078, -1.25%	Bearish	Bearish
Nifty	8565, 0.37%	Neutral**	Neutral
China Shanghai Index	3744, 2.20%	Bullish	Bullish
Gold	1093, -0.16%	Neutral	Neutral
WTIC Crude	43.75, -6.46%	Bearish	Bearish
Copper	2.33, -1.21%	Bearish	Bearish
Baltic Dry Index	1200, 6.10%	Bullish	Bullish
Euro	1.0973, -0.09%	Neutral	Neutral
Dollar/Yen	124.21, 0.23%	Neutral	Neutral
Dow Transports	8251, -1.68%	Bearish	Bearish
US 10 year Bond Yield	2.18%, -1.36%	Bullish	Bullish
Nyse Summation Index	-339, 0.03%	Neutral	Neutral
US Vix	13.39, 10.48%	Bearish	Bearish
20 DMA, S and P 500	2102, Below	Bearish	Neutral
50 DMA, S and P 500	2096, Below	Bearish	Neutral
200 DMA, S and P 500	2073, Above	Bullish	Neutral
20 DMA, Nifty	8517, Above	Neutral	Bullish
50 DMA, Nifty	8362, Above	Neutral	Bullish
200 DMA, Nifty	8435, Above	Neutral	Bullish
India Vix	14.91, 2.33%	Neutral	Bearish
Dollar/Rupee	63.71, -0.43%	Neutral	Neutral
Overall	S & P 500	Nifty
Bullish Indications	4	6
Bearish Indications	7	6
Outlook	Bearish	Neutral
Observation	The Sand P 500 sold off last week while the Nifty out performed slightly. Indicators are bearish. The Vix is indicating complacency.  Market cycles are not favorable into mid August, so I am looking more downside.
On the Horizon	China loan data, Euro zone sentiment ZEW survey, US advance retail sales, German and Euro zone GDP, US U. Michigan consumer confidence
*Nifty	India’s Benchmark Stock Index
Raw Data	Courtesy Google finance, Stock charts, Dailyfx
**Neutral	Changes less than 0.5% are considered neutral

Signals are bearish for the upcoming week and market cycles are unfavorable into mid August so I am looking for more downside. 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.

Bear Market ETF's to Consider for 2017 and Beyond

Stock Market Signals for the US S and P 500 Index and Indian Stock Market Nifty Index for the Week beginning August 3

Indicator	Weekly Level / Change / Significance	Implication for S & P 500	Implication for Nifty*
S & P 500	2104, 1.16%	Bullish	Bullish
Nifty	8533, 0.13%	Neutral**	Neutral
China Shanghai Index	3664, -10.00%	Bearish	Bearish
Gold	1095, -0.31%	Neutral	Neutral
WTIC Crude	46.77, -2.48%	Bearish	Bearish
Copper	2.35, -1.51%	Bearish	Bearish
Baltic Dry Index	1131, 4.14%	Bullish	Bullish
Euro	1.0983, 0.08%	Neutral	Neutral
Dollar/Yen	123.92, 0.13%	Neutral	Neutral
Dow Transports	8392, 3.96%	Bullish	Bullish
US 10 year Bond Yield	2.21%, -2.91%	Bullish	Bullish
Nyse Summation Index	-339, -20.07%	Bearish	Neutral
US Vix	12.12, -11.79%	Bullish	Bullish
20 DMA, S and P 500	2096, Above	Bullish	Neutral
50 DMA, S and P 500	2099, Above	Bullish	Neutral
200 DMA, S and P 500	2068, Above	Bullish	Neutral
20 DMA, Nifty	8482, Above	Neutral	Bullish
50 DMA, Nifty	8343, Above	Neutral	Bullish
200 DMA, Nifty	8418, Above	Neutral	Bullish
India Vix	14.57, -5.74%	Neutral	Bullish
Dollar/Rupee	63.98, -0.19%	Neutral	Neutral
Overall	S & P 500	Nifty
Bullish Indications	8	9
Bearish Indications	4	3
Outlook	Bullish	Bullish
Observation	The Sand P 500 rallied last week while the Nifty under performed. Indicators are bullish. The Vix is indicating complacency.  Market cycles are not favorable into mid August, so I am looking for a top in the upcoming bounce.
On the Horizon	US Personal Consumption & ISM data, AUS, UK & India rate decisions, AUS, NZ, Canada and US employment data
*Nifty	India’s Benchmark Stock Index
Raw Data	Courtesy Google finance, Stock charts, Dailyfx
**Neutral	Changes less than 0.5% are considered neutral

 Lot of whipsaws off late. Signals are bullish for the upcoming week but market cycles are unfavorable into mid August so I will look for a top in the upcoming bounce. 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.