LunaticTrader

Investing with the Moon

Key reversal levels for week of January 6, 2014

Posted by Danny on January 5, 2014

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

 

Enhanced by Zemanta

Post a comment (disagreement also welcome):

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

 
%d bloggers like this: