Market Signals for the US stock market S and P 500 Index and Indian Stock Market Nifty Index for the Week beginning June 17

Indicator	Weekly Level / Change	Implication for S & P 500	Implication for Nifty*
S & P 500	2887, 0.47%	Neutral	Neutral
Nifty	11823, -0.40%	Neutral **	Neutral
China Shanghai Index	2882, 1.92%	Bullish	Bullish
Gold	1345, 0.31%	Neutral	Neutral
WTIC Crude	52.52, -2.72%	Bearish	Bearish
Copper	2.63, -0.23%	Neutral	Neutral
Baltic Dry Index	1085, -4.66%	Bearish	Bearish
Euro	1.1209, -1.09%	Bearish	Bearish
Dollar/Yen	108.56, 0.10%	Neutral	Neutral
Dow Transports	10305, 1.62%	Bullish	Bullish
High Yield (Bond)	107.78, 0.16%	Neutral	Neutral
US 10 year Bond Yield	2.08%, -1.73%	Bullish	Bullish
Nyse Summation Index	370, 57.01%	Bullish	Neutral
US Vix	15.28, -6.26%	Bullish	Bullish
Skew	113	Neutral	Neutral
20 DMA, S and P 500	2836, Above	Bullish	Neutral
50 DMA, S and P 500	2874, Above	Bullish	Neutral
200 DMA, S and P 500	2775, Above	Bullish	Neutral
20 DMA, Nifty	11856, Below	Neutral	Bearish
50 DMA, Nifty	11681, Above	Neutral	Bullish
200 DMA, Nifty	11093, Above	Neutral	Bullish
India Vix	13.90, -6.48%	Neutral	Bullish
Dollar/Rupee	69.88, 0.76%	Neutral	Bearish
Overall	S & P 500	Nifty
Bullish Indications	8	7
Bearish Indications	3	5
Outlook	Bullish	Bullish
Observation	The S and P 500 and the Nifty were unchanged last week. Indicators are bullish for the week. The markets are on the verge of a great depression style collapse. Watch those stops.
On the Horizon	US – FOMC rate decision, UK – CPI, BOE rate decision, Euro Zone – CPI, Japan – BOJ rate decision
*Nifty	India’s Benchmark Stock Market Index
Raw Data	Courtesy Stock charts, investing.com
**Neutral	Changes less than 0.5% are considered neutral

The S and P 500 and the Nifty were unchanged last week. Indicators are bullish for the upcoming week. QE forever from the FED is about to trigger the deflationary collapse of the century and we are very close to another top in global equity markets. The market has established a major secondary top. The trend is changing from bullish to bearish and the markets are about to get smashed by a strong dollar. Looking for significant under performance in the Nifty going forward on rapidly deteriorating macros. A 5 year deflationary wave is about to start in key asset classes like the Euro, stocks and commodities amidst a number of bearish divergences and Hindenburg omens. We are on the verge of a multi-year great depression. The markets are still trading well over 3 standard deviations above their long term averages from which corrections usually result. Tail risk has been very high off late as the yield curve inverts. The critical levels to watch for the week are 2900 (up) and 2875 (down) on the S & P 500 and 11900 (up) and 11750 (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. Love your thoughts and feedback.

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

Indicator	Weekly Level / Change	Implication for S & P 500	Implication for Nifty*
S & P 500	2873, 4.41%	Bullish	Bullish
Nifty	11871, -0.44%	Neutral **	Neutral
China Shanghai Index	2828, -2.45%	Bearish	Bearish
Gold	1345, 2.99%	Bullish	Bullish
WTIC Crude	54.05, 1.03%	Bullish	Bullish
Copper	2.62, -0.00%	Neutral	Neutral
Baltic Dry Index	1138, 3.83%	Bullish	Bullish
Euro	1.1333, 1.47%	Bullish	Bullish
Dollar/Yen	108.20, -0.03%	Neutral	Neutral
Dow Transports	10141, 4.13%	Bullish	Bullish
High Yield (Bond)	107.61, 1.38%	Bullish	Bullish
US 10 year Bond Yield	2.08%, -1.91%	Bullish	Bullish
Nyse Summation Index	235, 13.17%	Bullish	Neutral
US Vix	16.30, -12.88%	Bullish	Bullish
Skew	115	Neutral	Neutral
20 DMA, S and P 500	2827, Above	Bullish	Neutral
50 DMA, S and P 500	2871, Above	Bullish	Neutral
200 DMA, S and P 500	2775, Above	Bullish	Neutral
20 DMA, Nifty	11683, Above	Neutral	Bullish
50 DMA, Nifty	11640, Above	Neutral	Bullish
200 DMA, Nifty	11080, Above	Neutral	Bullish
India Vix	14.86, -7.53%	Neutral	Bullish
Dollar/Rupee	69.39, -0.27%	Neutral	Neutral
Overall	S & P 500	Nifty
Bullish Indications	13	13
Bearish Indications	1	1
Outlook	Bullish	Bullish
Observation	The S and P 500 was up and the Nifty was unchanged last week. Indicators are bullish for the week. The markets are on the verge of a great depression style collapse. Watch those stops.
On the Horizon	US – PPI, CPI, UK – GDP, Employment data, Japan – GDP
*Nifty	India’s Benchmark Stock Market Index
Raw Data	Courtesy Stock charts, investing.com
**Neutral	Changes less than 0.5% are considered neutral

The S and P 500 was up and the Nifty was unchanged last week. Indicators are bullish for the upcoming week. QE forever from the FED is about to trigger the deflationary collapse of the century and we are very close to another top in global equity markets. The market has established a major secondary top. The trend is changing from bullish to bearish. Looking for significant under performance in the Nifty going forward on rapidly deteriorating macros. A 5 year deflationary wave is about to start in key asset classes like the Euro, stocks and commodities amidst a number of bearish divergences and Hindenburg omens. We are on the verge of a multi-year great depression. The markets are still trading well over 3 standard deviations above their long term averages from which corrections usually result. Tail risk has been very high off late as the yield curve inverts. The critical levels to watch for the week are 2890 (up) and 2860 (down) on the S & P 500 and 11950 (up) and 11800 (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. Love your thoughts and feedback.