Market Signals for the US stock market S and P 500 Index and Indian Stock Market Nifty Index for the Week beginning July 01

Indicator	Weekly Level / Change	Implication for S & P 500	Implication for Nifty*
S & P 500	2942, -0.30%	Neutral	Neutral
Nifty	11789, 0.55%	Neutral **	Bullish
China Shanghai Index	2979, -0.77%	Bearish	Bearish
Gold	1413, 1.17%	Bullish	Bullish
WTIC Crude	58.20, 1.34%	Bullish	Bullish
Copper	2.72, 0.48%	Neutral	Neutral
Baltic Dry Index	1340, 8.15%	Bullish	Bullish
Euro	1.1370, 0.02%	Neutral	Neutral
Dollar/Yen	107.91, 0.56%	Bullish	Bullish
Dow Transports	10462, 1.06%	Bullish	Bullish
High Yield (Bond)	108.96, -0.21%	Neutral	Neutral
US 10 year Bond Yield	2.01%, -2.53%	Bullish	Bullish
Nyse Summation Index	592, 7.39%	Bullish	Neutral
US Vix	15.08, -2.08%	Bullish	Bullish
Skew	118	Neutral	Neutral
20 DMA, S and P 500	2890, Above	Bullish	Neutral
50 DMA, S and P 500	2881, Above	Bullish	Neutral
200 DMA, S and P 500	2777, Above	Bullish	Neutral
20 DMA, Nifty	11843, Below	Neutral	Bearish
50 DMA, Nifty	11705, Above	Neutral	Bullish
200 DMA, Nifty	11099, Above	Neutral	Bullish
India Vix	14.95, 2.34%	Neutral	Bearish
Dollar/Rupee	68.96, -0.90%	Neutral	Bullish
Overall	S & P 500	Nifty
Bullish Indications	11	11
Bearish Indications	1	3
Outlook	Bullish	Bullish
Observation	The S and P 500 was unchanged and the Nifty rallied 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 – Employment data, Euro Zone – German employment data
*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 relatively unchanged and the Nifty was up 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 is establishing a major secondary top with non-conformation from the transports. 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 2955 (up) and 2930 (down) on the S & P 500 and 11850 (up) and 11700 (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 24

Indicator	Weekly Level / Change	Implication for S & P 500	Implication for Nifty*
S & P 500	2951, 2.20%	Bullish	Bullish
Nifty	11724, -0.84%	Neutral **	Bearish
China Shanghai Index	3002, 4.16%	Bullish	Bullish
Gold	1403, 4.71%	Bullish	Bullish
WTIC Crude	57.59, 9.67%	Bullish	Bullish
Copper	2.70, 2.66%	Bullish	Bullish
Baltic Dry Index	1194, 10.05%	Bullish	Bullish
Euro	1.1368, 1.42%	Bullish	Bullish
Dollar/Yen	107.32, -1.17%	Bearish	Bearish
Dow Transports	10353, 0.46%	Neutral	Neutral
High Yield (Bond)	109.17, 1.28%	Bullish	Bullish
US 10 year Bond Yield	2.06%, -1.60%	Bullish	Bullish
Nyse Summation Index	551, 49.13%	Bullish	Neutral
US Vix	15.40, 0.79%	Bearish	Bearish
Skew	119	Neutral	Neutral
20 DMA, S and P 500	2856, Above	Bullish	Neutral
50 DMA, S and P 500	2878, Above	Bullish	Neutral
200 DMA, S and P 500	2776, Above	Bullish	Neutral
20 DMA, Nifty	11870, Below	Neutral	Bearish
50 DMA, Nifty	11687, Above	Neutral	Bullish
200 DMA, Nifty	11096, Above	Neutral	Bullish
India Vix	14.61, 5.15%	Neutral	Bearish
Dollar/Rupee	69.58, -0.29%	Neutral	Neutral
Overall	S & P 500	Nifty
Bullish Indications	13	11
Bearish Indications	2	5
Outlook	Bullish	Bullish
Observation	The S and P 500 was up and the Nifty fell 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 – GDP, UK – GDP, Euro Zone – CPI
*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 rallied and the Nifty fell 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 is establishing a major secondary top with non-conformation from the transports. 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 2960 (up) and 2940 (down) on the S & P 500 and 11800 (up) and 11650 (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.