Market Signals for the US stock market S and P 500 Index and Indian Stock Market Nifty Index for the Week beginning November 18

Indicator	Weekly Level / Change	Implication for S & P 500	Implication for Nifty*
S & P 500	3121, 0.89%	Bullish	Bullish
Nifty	11895, -0.11%	Neutral **	Neutral
China Shanghai Index	2891, -2.46%	Bearish	Bearish
Gold	1469, 0.40%	Neutral	Neutral
WTIC Crude	56.85, -0.68%	Bearish	Bearish
Copper	2.64, -1.72%	Bearish	Bearish
Baltic Dry Index	1357, -1.52%	Bearish	Bearish
Euro	1.1053, 0.32%	Neutral	Neutral
Dollar/Yen	108.75, -0.48%	Neutral	Neutral
Dow Transports	10876, -1.72%	Bearish	Bearish
High Yield (Bond)	108.19, -0.01%	Neutral	Neutral
US 10 year Bond Yield	1.84%, -5.60%	Neutral	Neutral
Nyse Summation Index	655, -10.39%	Bearish	Neutral
US Vix	12.05, -0.17%	Neutral	Neutral
Skew	125	Neutral	Neutral
20 DMA, S and P 500	3058, Above	Bullish	Neutral
50 DMA, S and P 500	3006, Above	Bullish	Neutral
200 DMA, S and P 500	2909, Above	Bullish	Neutral
20 DMA, Nifty	11787, Above	Neutral	Bullish
50 DMA, Nifty	11413, Above	Neutral	Bullish
200 DMA, Nifty	11373, Above	Neutral	Bullish
India Vix	15.03, -5.20%	Neutral	Bullish
Dollar/Rupee	71.65, 0.41%	Neutral	Neutral
Overall	S & P 500	Nifty
Bullish Indications	4	5
Bearish Indications	6	5
Outlook	Bearish	Neutral
Observation	The S and P 500 was up and the Nifty was unchanged last week. Indicators are tilting bearish for the week. The markets are on the verge of a great depression style collapse. Watch those stops.
On the Horizon	Eurozone – German GDP, China – PBOC 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 rallied and the Nifty was unchanged last week. Indicators are tilting bearish for the upcoming week. QE forever from the FED is about to trigger the deflationary collapse of the century and we are likely making another major top in global equity markets that will probably fail at resistance near 3125 on the Sand P 500. The market is looking like the short of a life time with non-conformations from the transports, other global indices and commodities and insane valuations. A massive drop in the S and P 500 looks imminent. The trend is about to change 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 over stretched valuations. 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 3130 (up) and 3110 (down) on the S & P 500 and 12000 (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.

Market Signals for the US stock market S and P 500 Index and Indian Stock Market Nifty Index for the Week beginning November 11

Indicator	Weekly Level / Change	Implication for S & P 500	Implication for Nifty*
S & P 500	3093, 0.85%	Bullish	Bullish
Nifty	11908, 0.15%	Neutral **	Neutral
China Shanghai Index	2964, 0.20%	Neutral	Neutral
Gold	1460, -3.43%	Bearish	Bearish
WTIC Crude	57.44, 2.21%	Bullish	Bullish
Copper	2.69, 1.32%	Bullish	Bullish
Baltic Dry Index	1378, -18.80%	Bearish	Bearish
Euro	1.1019, -1.33%	Bearish	Bearish
Dollar/Yen	109.29, 1.01%	Bullish	Bullish
Dow Transports	11067, 3.06%	Bullish	Bullish
High Yield (Bond)	108.20, -0.04%	Neutral	Neutral
US 10 year Bond Yield	1.95%, 13.49%	Bearish	Bearish
Nyse Summation Index	732, 3.51%	Bullish	Neutral
US Vix	12.07, -1.87%	Bullish	Bullish
Skew	123	Neutral	Neutral
20 DMA, S and P 500	3031, Above	Bullish	Neutral
50 DMA, S and P 500	2991, Above	Bullish	Neutral
200 DMA, S and P 500	2899, Above	Bullish	Neutral
20 DMA, Nifty	11676, Above	Neutral	Bullish
50 DMA, Nifty	11344, Above	Neutral	Bullish
200 DMA, Nifty	11353, Above	Neutral	Bullish
India Vix	15.85, 0.78%	Neutral	Bearish
Dollar/Rupee	71.36, 0.85%	Neutral	Bearish
Overall	S & P 500	Nifty
Bullish Indications	10	9
Bearish Indications	4	6
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	UK – GDP, Employment data, CPI, Eurozone – German GDP, CPI, USA – CPI, PPI, 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 rallied 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 likely making another major top in global equity markets that will probably fail at resistance near 3065 on the Sand P 500. The market is looking like the short of a life time with non-conformations from the transports, other global indices and commodities and insane valuations. A massive drop in the S and P 500 looks imminent. The trend is about to change 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 3105 (up) and 3080 (down) on the S & P 500 and 12000 (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.