I have improved the article with instructions for the key reversal levels. Feel free to check it out: Key reversal levels
Key reversal levels for this week:
| Weekly | Current | Mode | Key (W) | MoM (W) | Weeks | % Ch. |
|---|---|---|---|---|---|---|
| Nasdaq | 4,103.88 | 3,872.24 | 7.30 | 56 | 32.85 | |
| S&P 500 | 1,782.59 | 1,761.89 | 4.37 | 61 | 25.86 | |
| Nikkei | 14,914.53 | 14,810.12 | 4.26 | 62 | 57.56 | |
| FTSE 100 | 6,510.40 | 6,706.03 | 1.47 | 0 | 0.00 | |
| DAX | 9,306.48 | 9,009.97 | 5.44 | 29 | 12.97 | |
| Bonds (TLT) | 108.28 | 104.47 | 0.60 | 1 | 0.99 | |
| Gold (spot) | 1,243.70 | 1,306.96 | -2.49 | 58 | -24.94 | |
| $EURUSD | 1.3489 | 1.3462 | 0.94 | 27 | 1.56 | |
| Oil (CL) | 97.49 | 100.09 | -1.77 | 14 | -0.40 |
(Legend: Mode: green = bullish, pale green = weak bullish – may have peaked, red = bearish, pink = mildly bearish – may have bottomed | Key: key reversal level | for more details about these key levels, see: https://lunatictrader.wordpress.com/key-reversal-levels/ )
Important developments in the weekly key reversal levels:
* FTSE 100 is the first major market to go bearish on the weekly level. Momentum (MoM) continues to go down for all covered stock indexes, so other markets may follow.
* $EURUSD is barely holding above its key reversal level. If the Euro turns bearish it is likely to become a drag on gold and oil prices as well.
Daily key reversal levels as of today:
| Daily | Current | Mode | Key (D) | MoM (D) | Days | % Ch. | W | Strat |
|---|---|---|---|---|---|---|---|---|
| Nasdaq | 4,103.88 | 4,157.54 | -4.36 | 5 | -0.69 | 7 | ||
| S&P 500 | 1,782.59 | 1,819.84 | -7.10 | 5 | -0.47 | 7 | ||
| Nikkei | 14,914.53 | 15,622.57 | -6.97 | 5 | -1.17 | 7 | ||
| FTSE 100 | 6,510.40 | 6,700.80 | -7.77 | 5 | -2.30 | 11 | ||
| DAX | 9,306.48 | 9,522.67 | -4.14 | 5 | -0.88 | 7 | ||
| Bonds (TLT) | 108.28 | 105.23 | 9.04 | 15 | 4.35 | 18 | ||
| Gold (spot) | 1,243.70 | 1,235.88 | 1.59 | 15 | -0.34 | 14 | ||
| $EURUSD | 1.3489 | 1.3660 | -0.09 | 1 | -0.48 | 7 | ||
| Oil (CL) | 97.49 | 95.26 | 5.02 | 7 | 0.83 | 13 |
(Legend: Mode : green = bullish, pale green = weak bullish – may have peaked, red = bearish, pink = mildly bearish – may have bottomed | Key: key reversal level | for more details about these key levels, see: https://lunatictrader.wordpress.com/key-reversal-levels/ )
Important developments in the daily key reversal levels:
* Stock markets continue their correction. No signs of bottoming out at this point.
* Gold is not far above its key reversal level, so is at risk of going into declining mode.
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 | 13860 | 12940 | |
| 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:
* No new targets
* $EURUSD is testing its Bottom1 target.
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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