Market Signals for the US stock market S and P 500 Index and Indian Stock Market Nifty Index for the Week beginning August 22

The S and P 500 and the Nifty were unchanged last week. Signals are bullish for the upcoming week. The Vix is suggesting complacency despite the market making nominal new highs and momentum, breadth and sentiment indicators are showing divergences. The markets are likely to continue major breakdowns in 2016 after this rally concludes. The critical levels to watch are 2190 (up) and 2170 (down) on the S & P and 8750 (up) and 8550 (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 support and resistance levels of the S and P 500 and Nifty Indices. Love your thoughts and feedback.

Originally published on Blogger