Key reversal levels for this week:
| Weekly |
Current |
Mode |
Key (W) |
MoM (W) |
Weeks |
% Ch. |
| Nasdaq |
4,174.67 |
|
3,834.56 |
8.16 |
53 |
35.14 |
| S&P 500 |
1,842.37 |
|
1,752.02 |
7.43 |
58 |
30.08 |
| Nikkei |
15,912.06 |
|
14,684.32 |
7.98 |
59 |
68.10 |
| FTSE 100 |
6,739.90 |
|
6,541.16 |
1.25 |
2 |
-0.16 |
| DAX |
9,473.24 |
|
8,936.79 |
6.78 |
26 |
15.00 |
| Bonds (TLT) |
104.41 |
|
106.56 |
-2.83 |
34 |
-9.88 |
| Gold (spot) |
1,247.76 |
|
1,319.85 |
-4.37 |
55 |
-24.69 |
| $EURUSD |
1.3666 |
|
1.3448 |
2.53 |
24 |
2.89 |
| Oil (CL) |
92.72 |
|
100.73 |
-2.15 |
11 |
-5.27 |
(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:
* Momentum (MoM) has turned down for US and Japanese stock indexes. To give you an idea, on average MoM changes direction every 6 bars, so 6 weeks for the weekly reversals. But it varies between 1 week and over 20 weeks. So, with MoM now turning down for many stock indexes, an average 6 weeks of weakness (down or sideways) can be expected.
* For bonds (TLT) the weekly MoM is turning up. TLT is not far from its bullish reversal level at 106.56
*Oil has downward MoM again, continuing its bearish tendency.
Daily key reversal levels as of today:
| Daily |
Current |
Mode |
Key (D) |
MoM (D) |
Days |
% Ch. |
| Nasdaq |
4,174.67 |
|
4,091.01 |
4.40 |
62 |
10.81 |
| S&P 500 |
1,842.37 |
|
1,812.85 |
4.29 |
15 |
1.84 |
| Nikkei |
15,912.06 |
|
15,538.51 |
4.21 |
13 |
0.65 |
| FTSE 100 |
6,739.90 |
|
6,624.01 |
5.66 |
12 |
2.02 |
| DAX |
9,473.24 |
|
9,279.52 |
5.21 |
14 |
3.61 |
| Bonds (TLT) |
104.41 |
|
102.40 |
0.83 |
1 |
0.62 |
| Gold (spot) |
1,247.76 |
|
1,218.97 |
2.20 |
0 |
0.00 |
| $EURUSD |
1.3666 |
|
1.3696 |
-2.65 |
5 |
0.54 |
| Oil (CL) |
92.72 |
|
96.49 |
-8.48 |
6 |
-2.88 |
(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 markets stay above their daily bearish reversal levels, but MoM is still to the downside, so it is better to remain cautious at this point.
* Bonds (TLT) have broken above their bullish reversal level last Thursday. Next target to watch is the weekly bullish reversal level (see above).
* Gold has broken above its daily key reversal level as well. A positive development, but it is only a bear market rally unless it gets above the weekly key reversal level.
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:
* No new targets this week
* Stock indexes are still close to their Top1 targets. They may have marked the top for a while.
* Crude oil is coming close to its Bottom1 target at 89.50.
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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Key reversal levels for week of January 13, 2014
Posted by Danny on January 11, 2014
Key reversal levels for this week:
(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:
* Momentum (MoM) has turned down for US and Japanese stock indexes. To give you an idea, on average MoM changes direction every 6 bars, so 6 weeks for the weekly reversals. But it varies between 1 week and over 20 weeks. So, with MoM now turning down for many stock indexes, an average 6 weeks of weakness (down or sideways) can be expected.
* For bonds (TLT) the weekly MoM is turning up. TLT is not far from its bullish reversal level at 106.56
*Oil has downward MoM again, continuing its bearish tendency.
Daily key reversal levels as of today:
(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 markets stay above their daily bearish reversal levels, but MoM is still to the downside, so it is better to remain cautious at this point.
* Bonds (TLT) have broken above their bullish reversal level last Thursday. Next target to watch is the weekly bullish reversal level (see above).
* Gold has broken above its daily key reversal level as well. A positive development, but it is only a bear market rally unless it gets above the weekly key reversal level.
Our current key target zones (we use a +/-1% zone around these targets):
(* = new target )
(for more details about these key targets, see: https://lunatictrader.wordpress.com/2013/08/20/key-target-levels/ )
Important developments last week:
* No new targets this week
* Stock indexes are still close to their Top1 targets. They may have marked the top for a while.
* Crude oil is coming close to its Bottom1 target at 89.50.
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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This entry was posted on January 11, 2014 at 12:01 pm and is filed under Market Commentary. Tagged: FTSE 100 Index, gold, key levels, Nasdaq, oil, S&P 500. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.