Key reversal levels for this week:
| Weekly | Current | Mode | Key (W) | MoM (W) | Weeks | % Ch. |
|---|---|---|---|---|---|---|
| Nasdaq | 4,131.91 | 3,817.78 | 8.19 | 52 | 33.75 | |
| S&P 500 | 1,831.37 | 1,743.93 | 7.55 | 57 | 29.30 | |
| Nikkei | 16,291.30 | 14,555.31 | 8.00 | 58 | 72.10 | |
| FTSE 100 | 6,730.70 | 6,522.84 | 0.79 | 1 | -0.30 | |
| DAX | 9,435.15 | 8,896.79 | 6.89 | 25 | 14.53 | |
| Bonds (TLT) | 102.17 | 106.72 | -3.10 | 33 | -11.82 | |
| Gold (spot) | 1,236.60 | 1,327.06 | -4.53 | 54 | -25.36 | |
| $EURUSD | 1.3588 | 1.3438 | 2.84 | 23 | 2.30 | |
| Oil (CL) | 93.96 | 101.14 | -2.06 | 10 | -4.00 |
(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:
* Major stock indexes are still bullish on the weekly level.
* We see some weakness for the DAX where MoM is turning down again.
* MoM is turning up for gold, which means we can set sights on the key reversal level at $1327
* MoM is turning down for $EURUSD, so this market could turn bearish very soon.
* Oil has failed to break above its weekly key reversal level, so bear market continues.
Daily key reversal levels as of today:
| Daily | Current | Mode | Key (D) | MoM (D) | Days | % Ch. |
|---|---|---|---|---|---|---|
| Nasdaq | 4,131.91 | 4,063.73 | 8.34 | 57 | 9.67 | |
| S&P 500 | 1,831.37 | 1,803.26 | 8.29 | 10 | 1.24 | |
| Nikkei | 16,291.30 | 15,447.13 | 8.37 | 8 | 3.05 | |
| FTSE 100 | 6,730.70 | 6,595.07 | 8.56 | 7 | 1.88 | |
| DAX | 9,435.15 | 9,204.53 | 8.36 | 9 | 3.20 | |
| Bonds (TLT) | 102.17 | 103.09 | -3.15 | 6 | -0.18 | |
| Gold (spot) | 1,236.60 | 1,238.95 | -1.49 | 42 | -5.72 | |
| $EURUSD | 1.3588 | 1.3725 | 0.48 | 0 | 0.00 | |
| Oil (CL) | 93.96 | 98.27 | -0.20 | 1 | -1.58 |
(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:
* Stock market rallies are in jeopardy. MoM is turning down from very optimistic +8 levels, and most markets are not far above their daily key reversal levels. This means we are at an elevated risk for a sizable drop if the key reversal levels get broken on a closing basis. The weekly key reversal levels (see above) then become the first downside targets.
* $EURUSD has fallen below its key reversal level and is now in declining mode
* Oil fell, below its key reversal level last Thursday and has thus gone into declining mode as well.
Our current key target zones (we use a +/-1% zone around these targets):
| Key Targets | Top1 | Top2 | Bottom1 | Bottom2 |
| Nasdaq | 4200 | 4390 * | 3530 | 3210 |
| S&P 500 | 1870 | 1926 * | 1755 | 1576 |
| Nikkei | 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:
* There is a new Top2 target for Nasdaq at 4390, and for S&P 500 at 1926
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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