Key reversal levels for this week:
| Weekly | Current | Mode | Key (W) | MoM (W) | Weeks | % Ch. |
|---|---|---|---|---|---|---|
| Nasdaq | 4,156.58 | 3,797.02 | 8.11 | 51 | 34.55 | |
| S&P 500 | 1,841.40 | 1,734.06 | 7.21 | 56 | 30.01 | |
| Nikkei | 16,178.94 | 14,360.49 | 6.90 | 57 | 70.92 | |
| FTSE 100 | 6,750.89 | 6,499.67 | 0.42 | 0 | 0.00 | |
| DAX | 9,589.38 | 8,853.05 | 6.89 | 24 | 16.41 | |
| Bonds (TLT) | 101.81 | 107.04 | -2.65 | 32 | -12.13 | |
| Gold (spot) | 1,212.09 | 1,335.73 | -4.62 | 53 | -26.84 | |
| $EURUSD | 1.3744 | 1.3422 | 3.06 | 22 | 3.48 | |
| Oil (CL) | 100.32 | 101.19 | -2.62 | 9 | 2.49 |
(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:
* FTSE 100 has broken back above its weekly key reversal level. MoM remains down however.
* Nasdaq and DAX have upward MoM again, so we are almost back to a fully bullish picture for the covered stock indexes.
* Oil is coming very close to its weekly key reversal level, so could go in bullish mode soon.
Daily key reversal levels as of today:
| Daily | Current | Mode | Key (D) | MoM (D) | Days | % Ch. |
|---|---|---|---|---|---|---|
| Nasdaq | 4,156.58 | 4,033.78 | 8.79 | 53 | 10.33 | |
| S&P 500 | 1,841.40 | 1,792.62 | 8.28 | 6 | 1.79 | |
| Nikkei | 16,178.94 | 15,406.55 | 8.05 | 7 | 2.34 | |
| FTSE 100 | 6,750.89 | 6,562.77 | 5.22 | 3 | 2.18 | |
| DAX | 9,589.38 | 9,144.65 | 6.92 | 6 | 4.89 | |
| Bonds (TLT) | 101.81 | 103.52 | -1.92 | 2 | -0.53 | |
| Gold (spot) | 1,212.09 | 1,244.92 | -4.09 | 38 | -7.59 | |
| $EURUSD | 1.3744 | 1.3627 | 0.45 | 24 | 1.45 | |
| Oil (CL) | 100.32 | 96.94 | 5.15 | 16 | 3.07 |
(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:
* On the daily level we remain with a fully bullish picture for the stock indexes.
* Bonds (TLT) have broken back below their daily key reversal level, so the rally was very short-lived.
* Gold is improving again with MoM back to the upside. Now needs a close above 1244.90 to go into rally mode.
* $EURUSD seem to have survived the test of its daily key reversal level and is looking up again.
* Oil continues to rally.
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 | 1755 | 1576 |
| Nikkei | 15850 | 17220 | 12710 | 10450 |
| FTSE 100 | 6800 | 7150 | 6230 | 6110 |
| DAX | 9480 | 9800 | 8715 | 7870 |
| Bonds (TLT) | 111.80 | 128.50 | 102 | 96.25 |
| Gold (spot) | 1448 | 1540 | 1153 | 1075 |
| EURUSD | 1.3950 | 1.42 | 1.2870 | 1.2350 |
| Crude Oil(CL) | 105 | 113 | 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:
* Stock indexes are breaking above their Top1 targets. This means we can start watching for the Top2 targets.
* Bonds (TLT) have fallen back to their Bottom1 target at 102. I would start watching for the next target at 96.25
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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