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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