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Key reversal levels for week of December 9, 2013

Posted by Dan on December 9, 2013

Key reversal levels for this week:

Weekly Current Mode Key (W) MoM (W) Weeks % Ch.
Nasdaq 4,062.52 3,738.41 8.41 48 31.51
S&P 500 1,805.09 1,710.97 8.27 53 27.45
Nikkei 15,299.86 13,933.64 4.96 54 61.63
FTSE 100 6,552.00 6,501.83 2.63 21 0.11
DAX 9,172.41 8,749.50 8.12 21 11.34
Bonds (TLT) 102.92 107.70 -1.71 29 -11.17
Gold (spot) 1,228.91 1,364.23 -3.68 50 -25.83
$EURUSD 1.3701 1.3338 2.34 19 3.15
Oil (CL) 97.65 101.49 -5.17 6 -0.23

(Legend: Mode: green = bullish, pale green = weak bullish – may have peaked, red = bearish, pink = mildly bearish – may have bottomed | Key: key reversal level | MoM indicator: green = rising, red = falling | Weeks: weeks since start of current bullish or bearish mode | % Ch: percent change since start of current mode | yellow box: changed direction)
(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 weekly key reversal levels:

* S&P 500 and DAX are seeing their MoM turn down this week, joining the FTSE 100 in the “may have peaked” category. Nasdaq and Nikkei are still fully bullish.

* $EURUSD has upward MoM again, so back to fully bullish.

* Oil may have bottomed for a while.

Daily key reversal levels as of today:

Daily Current Mode Key (D) MoM (D) Days % Ch.
Nasdaq 4,062.52 3,962.54 6.56 39 7.83
S&P 500 1,805.09 1,774.32 2.14 40 6.74
Nikkei 15,299.86 15,096.78 3.96 18 5.31
FTSE 100 6,552.00 6,652.38 -6.45 8 -1.27
DAX 9,172.41 9,081.75 1.10 41 5.37
Bonds (TLT) 102.92 104.38 -3.32 22 -1.92
Gold (spot) 1,228.91 1,273.81 -4.14 23 -6.31
$EURUSD 1.3701 1.3510 2.89 10 1.14
Oil (CL) 97.65 94.92 3.02 2 0.33

(Legend: Mode : green = bullish, pale green = weak bullish – may have peaked, red = bearish, pink = mildly bearish – may have bottomed | Key: key reversal level | MoM indicator: green = rising, red = falling | Days: days since start of current bullish or bearish mode | % Ch: percent change since start of current mode | yellow box: changed direction)
(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 daily key reversal levels:

* All covered stock indexes are displaying downward MoM on the daily level, so we see a weakening bull move in stocks. Some exchanges are only marginally above their daily key reversal level, so we could soon see other markets follow the FTSE 100 into declining mode.

* Bonds (TLT) failed to break above their daily key reversal and MoM has turned down again.

* Oil has broken above its daily key reversal and is now in rally mode.

Our current key target zones (we use a +/-1% zone around these targets):

Key Targets Top1 Top2 Bottom1 Bottom2
Nasdaq 4200 3530 3210
S&P 500 1820 1870 1576 1522
Nikkei 15850 17220 * 12710 10450
FTSE 100 6800 7150 6205 6110
DAX 9480 9800 * 7870 7210
Bonds (TLT) 111.80 128.50 102 96.25
Gold (spot) 1448 1540 1215 1153
EURUSD 1.3950 1.42 1.2870 1.2350
Crude Oil(CL) 109.40 121 89.50 86.00

(* = new target )
(for more details about these key targets, see: https://lunatictrader.wordpress.com/2013/08/20/key-target-levels/ )

Important developments last week:

* For Nikkei we have a refined Top2 target at 17220.

* For DAX we have a new Top2 target at 9800.

* Most stock indexes came close to their Top1 target last week, and all turned back down.

* Bonds (TLT) continues to sit just avove its Bottom1 target at 102. That level may not hold much longer and I would start looking for the Bottom2 target at 96.50

PS: if you are looking for key reversal levels for other world markets or individual stocks, then check out my Twitter account.

Good luck,

Danny

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