Key reversal levels for January 31
Posted by Danny on January 31, 2014
Daily key reversal levels for today:
|Daily||Current||Mode||Key (D)||MoM (D)||Days||% Ch.||W||Str. #|
(Legend: Mode : green = bullish, pale green = weak bullish – may have peaked, red = bearish, pink = mildly bearish – may have bottomed | Key: bullish or bearish reversal level | MoM indicator: green = rising, red = falling | Days: # of days since start of current mode | % Ch: percent change since start of current mode (green = profit, red = loss) | W: weekly mode | Str. #: Strategy number | (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 remain in declining mode. But MoM is reaching pessimistic -6 values for many indexes.
* $EURUSD has closed below its key reversal level and is now in declining mode.
* Gold has failed to pick up steam and is seeing its MoM turn down again. Testing its key reversal level, and could easily go into decline mode (especially if weakness in the Euro continues).
* Two new columns in the table from today. The “W” column just shows the weekly mode (see weekly key reversals posts), and the “Str. #” column is giving a strategy number. Depending on the daily and weekly market mode and direction of MoM there are different strategies, which I will explain in an upcoming article.
PS: if you are looking for key reversal levels for other world markets or individual stocks, then follow me on Twitter.