Our key reversal levels going into next week:
|
Current |
Status |
Key (W) |
MoM (W) |
Mode |
Key (D) |
MoM (D) |
| Nasdaq |
3782 |
BULL |
S: 3499.80 |
6.57 (6.13) |
RALLY |
S: 3717 |
5.17 (5.69) |
| S&P 500 |
1692 |
BULL |
S: 1618.60 |
2.71 (2.50) |
RALLY |
S: 1678.50 |
3.4 (4.86) |
| Nikkei |
14760 |
BULL |
S: 13012 |
2.44 (1.64) |
RALLY |
S: 14206 |
5.21 (5.58) |
| FTSE 100 |
6513 |
BULL |
S: 6365 |
1.40 (1.47) |
DECLINE * |
R: 6585 |
0.07 (0.79) |
| DAX |
8661 |
BULL |
S: 8158 |
3.15 (2.54) |
RALLY |
S: 8502 |
6.17 (7.0) |
| Bonds (TLT) |
106.56 |
BEAR |
R: 110.43 |
-5.0 (-5.83) |
RALLY |
S: 104.71 |
5.62 (5.19) |
| Gold (spot) |
1336.51 |
BEAR |
R: 1417.50 |
0.12 (0.43) |
DECLINE |
R: 1363.50 |
-2.38 (-2.69) |
| EURUSD |
1.3520 |
BULL |
S: 1.3131 |
2.71 (2.24) |
RALLY |
S: 1.3363 |
5.81 (6.49) |
| Oil (CL) |
102.87 |
BULL |
S: 99.52 |
3.20 (4.26) |
DECLINE |
R: 106.03 |
-4.95 (-4.76) |
(Legend: W = weekly, D = daily, R = resistance, S = support, MoM = MoM indicator, * = changed from last week)
(for more details about these key levels, see: https://lunatictrader.wordpress.com/key-reversal-levels/ )
(for information about the MoM indicator, see: https://lunatictrader.wordpress.com/2013/09/14/mom-indicator/ )
Important developments in the key reversal levels last week:
* Stock markets seem to be going through an ordinary pullback and stay in rally mode, except for the FTSE100, which continues to display weakness and has fallen into decline mode.
* Daily MoM is down for all markets, showing that the pullback is ongoing, but weekly MoM remains up so there is no reason for panic
* Bonds (TLT) have continued to rally and are now close to testing their weekly key reversal level.
* Gold remains in fully bearish mode. Weekly MoM is still down, while daily MoM is slightly to the upside. Still too early to buy.
* The EURUSD has held on the recent gains, but the daily MoM has turned down, which is a first sign that the rally may have ended. I would sell EURUSD as soon as we see a daily close below the key reversal level at 1.3363
* Oil has continued to go down and may soon be testing its weekly key reversal level. A weekly close below $99.52 would mean that oil has gone into bear status.
And here are our key target zones (we use a +/-1% zone around these targets):
| Key Targets |
Top |
Top2 |
Bottom |
Bottom2 |
| Nasdaq |
3830 |
3930 |
3530 |
3210 |
| S&P 500 |
1738 |
1799 |
1576 |
1522 |
| Nikkei |
15850 * |
16580 |
12710 |
10450 |
| FTSE 100 |
6800 |
7100 |
6205 |
6110 |
| DAX |
8920 |
9205 |
7870 |
7210 |
| Bonds (TLT) |
128.50 |
134 |
102 |
96.25 |
| Gold (spot) |
1448 |
1540 |
1215 |
1078 |
| EURUSD |
1.36 |
1.3950 |
1.2870 |
1.2350 |
| Crude Oil(CL) |
109.40 |
121 |
89.50 |
77 |
(* = new target, Bold = closely matches a major weekly key target )
(for more details about these key targets, see: https://lunatictrader.wordpress.com/2013/08/20/key-target-levels/ )
Important developments last week:
* We have a new top target for Nikkei index at 15850
* The EURUSD remains stuck near its upside target at 1.36
Good luck,
Danny
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LunaticTrader
Key reversal levels for week of September 30, 2013
Posted by Danny on September 29, 2013
Our key reversal levels going into next week:
(Legend: W = weekly, D = daily, R = resistance, S = support, MoM = MoM indicator, * = changed from last week)
(for more details about these key levels, see: https://lunatictrader.wordpress.com/key-reversal-levels/ )
(for information about the MoM indicator, see: https://lunatictrader.wordpress.com/2013/09/14/mom-indicator/ )
Important developments in the key reversal levels last week:
* Stock markets seem to be going through an ordinary pullback and stay in rally mode, except for the FTSE100, which continues to display weakness and has fallen into decline mode.
* Daily MoM is down for all markets, showing that the pullback is ongoing, but weekly MoM remains up so there is no reason for panic
* Bonds (TLT) have continued to rally and are now close to testing their weekly key reversal level.
* Gold remains in fully bearish mode. Weekly MoM is still down, while daily MoM is slightly to the upside. Still too early to buy.
* The EURUSD has held on the recent gains, but the daily MoM has turned down, which is a first sign that the rally may have ended. I would sell EURUSD as soon as we see a daily close below the key reversal level at 1.3363
* Oil has continued to go down and may soon be testing its weekly key reversal level. A weekly close below $99.52 would mean that oil has gone into bear status.
And here are our key target zones (we use a +/-1% zone around these targets):
(* = new target, Bold = closely matches a major weekly key target )
(for more details about these key targets, see: https://lunatictrader.wordpress.com/2013/08/20/key-target-levels/ )
Important developments last week:
* We have a new top target for Nikkei index at 15850
* The EURUSD remains stuck near its upside target at 1.36
Good luck,
Danny
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This entry was posted on September 29, 2013 at 4:07 pm and is filed under Market Commentary. Tagged: DAX, FTSE 100 Index, gold, key levels, Nasdaq, TLT. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.