Market Signals for the US stock market S and P 500 Index and Indian Stock Market Nifty Index for the Week beginning February 8

Indicator	Weekly Level / Change / Significance	Implication for S & P 500	Implication for Nifty*
S & P 500	1880, -3.10%	Bearish	Bearish
Nifty	7489, -0.98%	Neutral**	Bearish
China Shanghai Index	2764, 0.95%	Bullish	Bullish
Gold	1174, 4.98%	Bullish	Bullish
WTIC Crude	31.00, -8.12%	Bearish	Bearish
Copper	2.09, 1.38%	Bullish	Bullish
Baltic Dry Index	297, -6.31%	Bearish	Bearish
Euro	1.121, 3.45%	Bullish	Bullish
Dollar/Yen	116.89, -3.42%	Bearish	Bearish
Dow Transports	6943, 0.52%	Bullish	Bullish
High Yield (ETF)	32.30, -2.23%	Bearish	Bearish
US 10 year Bond Yield	1.85%, -4.30%	Bullish	Bullish
Nyse Summation Index	-560, 22.80%	Bullish	Neutral
US Vix	23.38, 15.74%	Bearish	Bearish
20 DMA, S and P 500	1920, Below	Bearish	Neutral
50 DMA, S and P 500	1991, Below	Bearish	Neutral
200 DMA, S and P 500	2041, Below	Bearish	Neutral
20 DMA, Nifty	7497, Below	Neutral	Bearish
50 DMA, Nifty	7668, Below	Neutral	Bearish
200 DMA, Nifty	8058, Below	Neutral	Bearish
India Vix	18.11, 5.08%	Neutral	Bearish
Dollar/Rupee	67.88, 0.0%	Neutral	Neutral
Overall	S & P 500	Nifty
Bullish Indications	7	6
Bearish Indications	9	10
Outlook	Bearish	Bearish
Observation	The Sand P 500 and the Nifty fell last week on what looks like another failed QE from Japan. Indicators are bearish. Looking for a retest of the prior lows.
On the Horizon	China - Loan data, Euro zone – German Italian & Euro zone GDP, U.S – Retail sales, U. Michigan confidence data
*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 fell last week. Signals are bearish for the upcoming week. The markets are in crash mode and are likely to continue major breakdowns in 2016, looking for a retest of the recent lows. The critical levels to watch are 1900 (up) and 1860 (down) on the S & P and 7500 (up) and 7400 (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.

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.