Key reversal levels for week of June 16, 2013

Here are our key reversal levels for next week.

Notice how the key levels have changed from last week. They typically go up (or down) with the market.

Status Key (W) Mode Key (D)
Nasdaq BULL S: 3233 DECLINE R: 3456
S&P 500 BULL S: 1534 DECLINE R: 1644
Nikkei BULL S: 11891 DECLINE R: 13926
FTSE 100 BULL S: 6229 DECLINE R: 6571
DAX BULL S: 7795 DECLINE R: 8276
Bonds (TLT) BEAR R: 119.72 DECLINE R: 116.43
Gold (spot) BEAR R: 1543 DECLINE R: 1411
Euro/US$ BULL S: 1.2943 RALLY S: 1.3062
Crude Oil(CL) BULL S: 91.15 RALLY S: 93.70

(Legend: W = weekly, D = daily, R = resistance, S = support, * = change from previous week/day)

Most major stock markets are in declining mode, and some of them are coming close to their weekly reversal levels now. This is the case for Nikkei, FTSE 100 and DAX. So we have to watch them carefully, as a weekly close below their support levels would switch them into bear status.

I am going to set up a fixed page on the blog, explaining the ins and outs of these key reversal levels.

Stay tuned,

Danny

By Dan

Author of LunaticTrader and Reversal Levels method. Stock market forecasts based on proprietary indicators, seasonal patterns and moon cycles.

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