Key reversal levels for this week:
| Weekly |
Current |
Mode |
Key (W) |
MoM (W) |
Weeks |
% Ch. |
| Nasdaq |
4,197.58 |
|
3,848.98 |
8.15 |
54 |
35.88 |
| S&P 500 |
1,838.70 |
|
1,758.17 |
7.06 |
59 |
29.82 |
| Nikkei |
15,734.46 |
|
14,758.35 |
7.28 |
60 |
66.22 |
| FTSE 100 |
6,829.30 |
|
6,559.21 |
2.01 |
3 |
1.16 |
| DAX |
9,742.96 |
|
8,970.45 |
6.89 |
27 |
18.27 |
| Bonds (TLT) |
105.48 |
|
106.48 |
-2.18 |
35 |
-8.96 |
| Gold (spot) |
1,253.81 |
|
1,313.83 |
-3.74 |
56 |
-24.33 |
| $EURUSD |
1.3534 |
|
1.3455 |
1.99 |
25 |
1.90 |
| Oil (CL) |
94.59 |
|
100.36 |
-2.30 |
12 |
-3.36 |
(Legend: Mode: green = bullish, pale green = weak bullish – may have peaked, red = bearish, pink = mildly bearish – may have bottomed | Key: key reversal level | MoM indicator: green = rising, red = falling | Weeks: weeks since start of current bullish or bearish mode | % Ch: percent change since start of current mode | yellow box: changed direction)
(for more details about these key levels, see: https://lunatictrader.wordpress.com/key-reversal-levels/ )
(for information about the MoM indicator, see: https://lunatictrader.wordpress.com/2013/09/14/mom-indicator/ )
Important developments in the weekly key reversal levels:
* Stock markets did well last week, but weekly momentum (MoM) remains down for US and Japanese indexes. The European markets appear a bit stronger right now.
* Bonds (TLT) are coming very close to their weekly key reversal level. A weekly close above 106.48 would turn bonds bullish for the first time in 35 weeks.
*$EURUSD is holding only barely above its weekly key reversal, so the euro is at risk of turning bearish again.
Daily key reversal levels as of today:
| Daily |
Current |
Mode |
Key (D) |
MoM (D) |
Days |
% Ch. |
| Nasdaq |
4,197.58 |
|
4,121.02 |
4.93 |
67 |
11.42 |
| S&P 500 |
1,838.70 |
|
1,819.93 |
2.72 |
20 |
1.64 |
| Nikkei |
15,734.46 |
|
15,580.07 |
-2.15 |
2 |
-0.70 |
| FTSE 100 |
6,829.30 |
|
6,668.92 |
5.75 |
17 |
3.37 |
| DAX |
9,742.96 |
|
9,392.02 |
6.44 |
19 |
6.56 |
| Bonds (TLT) |
105.48 |
|
103.37 |
7.18 |
6 |
1.65 |
| Gold (spot) |
1,253.81 |
|
1,226.99 |
3.76 |
5 |
0.47 |
| $EURUSD |
1.3534 |
|
1.3681 |
-1.60 |
10 |
-0.43 |
| Oil (CL) |
94.59 |
|
95.58 |
-4.95 |
11 |
-0.92 |
(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 indexes picked up positive momentum (MoM)) again, with the exception of the Nikkei. But all markets are bumping into their Top 1 target levels (see below), so it remains to be seen if they can push higher already.
* Bonds (TLT) have continued their rally and are close to testing their weekly key reversal level.
* Gold is hesitating while we see MoM turn down for $EURUSD. Watch the evolution for the Euro vs US dollar. If he dollar keeps strengthening then it will start weighing on gold prices.
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 |
9800 |
10120 * |
8715 |
7870 |
| Bonds (TLT) |
111.80 |
128.50 |
102 |
96.25 |
| Gold (spot) |
1298 * |
1448 |
1153 |
1075 |
| $EURUSD |
1.3950 |
1.42 |
1.3435 * |
1.2870 |
| 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:
* A new Top1 target for gold at $1298
* A new Bottom1 target for $EURUSD at 1.3435
* A new Top2 target for the DAX at 10120
* Most stock indexes are once again testing their Top1 targets. On the second (or third) attempt at a target level you usually get the breakout, but if it fails again then you have an increased risk of a serious move in the other direction. So watch these levels carefully.
PS: if you are looking for key reversal levels for other world markets or individual stocks, then check out my Twitter account.
Good luck,
Danny
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LunaticTrader
Key reversal levels for week of January 20, 2014
Posted by Danny on January 18, 2014
Key reversal levels for this week:
(Legend: Mode: green = bullish, pale green = weak bullish – may have peaked, red = bearish, pink = mildly bearish – may have bottomed | Key: key reversal level | MoM indicator: green = rising, red = falling | Weeks: weeks since start of current bullish or bearish mode | % Ch: percent change since start of current mode | yellow box: changed direction)
(for more details about these key levels, see: https://lunatictrader.wordpress.com/key-reversal-levels/ )
(for information about the MoM indicator, see: https://lunatictrader.wordpress.com/2013/09/14/mom-indicator/ )
Important developments in the weekly key reversal levels:
* Stock markets did well last week, but weekly momentum (MoM) remains down for US and Japanese indexes. The European markets appear a bit stronger right now.
* Bonds (TLT) are coming very close to their weekly key reversal level. A weekly close above 106.48 would turn bonds bullish for the first time in 35 weeks.
*$EURUSD is holding only barely above its weekly key reversal, so the euro is at risk of turning bearish again.
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 indexes picked up positive momentum (MoM)) again, with the exception of the Nikkei. But all markets are bumping into their Top 1 target levels (see below), so it remains to be seen if they can push higher already.
* Bonds (TLT) have continued their rally and are close to testing their weekly key reversal level.
* Gold is hesitating while we see MoM turn down for $EURUSD. Watch the evolution for the Euro vs US dollar. If he dollar keeps strengthening then it will start weighing on gold prices.
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:
* A new Top1 target for gold at $1298
* A new Bottom1 target for $EURUSD at 1.3435
* A new Top2 target for the DAX at 10120
* Most stock indexes are once again testing their Top1 targets. On the second (or third) attempt at a target level you usually get the breakout, but if it fails again then you have an increased risk of a serious move in the other direction. So watch these levels carefully.
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 18, 2014 at 2:56 pm and is filed under Market Commentary. Tagged: $EURUSD, FTSE 100 Index, gold, key levels, Nasdaq, 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.