Our key reversal levels going into next week:
| Status | Key (W) | Mom (W) | Mode | Key (D) | Mom (D) | |
| Nasdaq | BULL | S: 3271 | Up * | RALLY | S: 3444 | Up |
| S&P 500 | BULL | S: 1554 | Up * | RALLY | S: 1626 | Up |
| Nikkei | BULL | S: 12324 | Up * | RALLY | S: 13694 | Up |
| FTSE 100 | BULL | S: 6227 | Up * | RALLY | S: 6358 | Up |
| DAX | BULL * | S: 7785 | Down | RALLY * | S: 8015 | Up |
| Bonds (TLT) | BEAR | R: 116.98 | Down | DECLINE | R: 111.20 | Up * |
| Gold (spot) | BEAR | R: 1462 | Down | DECLINE | R: 1294.40 | Up |
| Euro/US$ | BEAR | R: 1.3188 | Down | DECLINE | R: 1.3102 | Up * |
| Crude Oil(CL) | BULL | S: 92.46 | Up | RALLY | S: 98.77 | Up |
(Legend: W = weekly, D = daily, R = resistance, S = support, Mom = momentum, * = change from previous week/day)
Important developments:
* The Dax has joined the other stock markets into bull status and rally mode by closing above its key resistance levels.
* The weekly momentum is now up for all covered stock markets, except the Dax, which remains in downward weekly momentum.
* Bonds (TLT) has entered upward daily momentum again, so it could go on to challenge its daily key resistance at 111.20 next.
* Gold tested its daily key resistance level last week, but failed to close above it, so it’s too early to declare rally mode. It now needs a close above $1294.40
* The Euro/US$ has shifted into upwards daily momentum, and tested its daily key reversal. It also failed to close above it, so remains in declining mode.
* Crude Oil has continued to rally strongly. We now wait for daily momentum to turn down, which would be the first sign to take some profits in oil.
Good luck,
Danny
Related articles
LunaticTrader 
Danny,
Congratulations on the new format for your ‘key reversals’ page. Your work is worth its weight in Gold, and a much higher Gold prices I might add… and you offer such keen perspective gratis. IMHO your work, presentation, and analysis is leagues ahead of services and newsletters who charge a handsome fee for a fraction of the insight. Not sure how you do it. But I just wanted to say thanks for being here…
HVA
Hi HVA,
Glad you appreciate it.
I just try to bring materials that are not readily found elsewhere on the net.
The lunar cycles have been working very well so far this year, and that helps to make my analysis look good of course. It will not always work this well.
I think one key to read the market well is to stay sufficiently detached from it.
And it is a lot more difficult to stay in that “neutral observer” mode when one has paying subscribers who demand performance, or when one is swinging big positions in the market (which creates “hopium” that it will go the right way).
That puts paying newsletters at a disadvantage versus free blogs or publications that can operate without any pressure to perform.
These key reversal levels can help to stay in neutral observer mode (or get back to it). If I find myself being long in a market where all daily and weekly indications are pointing down, then I better ask myself why I am going against the flow..
Danny