LunaticTrader

Investing with the Moon

Key reversal levels for week of February 10, 2014

Posted by Danny on February 9, 2014

Key reversal levels for next week:

Weekly Current Mode Key (W) MoM (W) Weeks % Ch.
Nasdaq 4,125.86 3,876.75 6.02 57 33.56
S&P 500 1,797.02 1,760.02 2.74 62 26.88
Nikkei 14,462.41 15,325.40 1.95 0 0.00
FTSE 100 6,571.70 6,692.66 0.58 1 0.94
DAX 9,301.92 9,013.68 4.02 30 12.92
Bonds (TLT) 106.79 104.65 1.86 2 -0.40
Gold (spot) 1,266.95 1,303.82 -1.73 59 -23.53
$EURUSD 1.3631 1.3464 0.47 28 2.63
Oil (CL) 99.88 100.10 -1.09 15 2.04

(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/ )

Comments on the weekly key reversal levels:

* The Nikkei has gone bearish on the weekly level. Momentum (MoM) continues to go down for all covered stock indexes, so it’s still too early to declare the end of the correction.

Latest daily key reversal levels:

7/02/2014 Current W Mode Key (D) MoM (D) Days % Ch. Str. #
Nasdaq 4,125.86 4,064.21 -5.34 0 0.00 33
S&P 500 1,797.02 1,802.99 -6.43 10 0.33 8
Nikkei 14,462.41 15,242.23 -9.33 10 -4.17 11
FTSE 100 6,571.70 6,638.05 -6.94 10 -1.38 12
DAX 9,301.92 9,408.58 -6.02 10 -0.93 24
Bonds (TLT) 106.79 105.71 5.80 20 2.91 2
Gold (spot) 1,266.95 1,239.88 0.97 20 1.52 29
$EURUSD 1.3631 1.3539 -1.97 0 0.00 33
Oil (CL) 99.88 95.83 3.48 12 3.30 29

(Legend: Mode : green = bullish, pale green = weak bullish – may have peaked, red = bearish, pink = mildly bearish – may have bottomed | Key: key reversal level | W = weekly mode | for more details about these key levels, see: https://lunatictrader.wordpress.com/key-reversal-levels/ )

Comments on the daily key reversal levels:

* Note: We now try to post the daily key reversal levels every day on Twitter or here on the blog when there are extra comments about them.

* Nasdaq is the first stock index to close above its daily key reversal level and get back into bullish mode. This could still prove to be a bull trap. We have to see if other markets go into rally mode as well.

* $EURUSD is back into rally mode.

* For gold and oil we see momentum (MoM) turn back up, which points to a continuation of their recent rally.

Our current key target zones (we use a +/-1% zone around these targets):

Key Targets Top1 Top2 Bottom1 Bottom2
Nasdaq 4200 4390 3797 * 3530
S&P 500 1870 1926 1755 1641 *
Nikkei 17220 13860 12940
FTSE 100 6800 7150 6230 6110
DAX 9800 10120 8715 8510 *
Bonds (TLT) 111.80 114.20 * 102 96.25
Gold (spot) 1298 1448 1153 1075
$EURUSD 1.3950 1.42 1.3435 1.2870
Crude Oil(CL) 104 * 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/ )

Latest developments:

* There is a new Bottom1 target for Nasdaq at 3797.

* For S&P 500 there is a new Bottom2 target at 1641.

* If stock markets continue to rebound then look for a retest of the Top1 targets. If we get another swing to the downside, then look for the Bottom1 targets to be reached.

PS: if you are looking for key reversal levels for other world markets or individual stocks, then follow me on Twitter.

Good luck, Danny

 

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5 Responses to “Key reversal levels for week of February 10, 2014”

  1. vick said

    Danny,
    As always with many thanks for your eye opening work and sharing your knowledge with us.
    i was looking at long term charts and with Dow, s&p, nasdaq flipping do you still think it would tank during the period you have marked with the line or this will change too
    as always with many thanks,
    vick

    • Danny said

      Hi Vicky,

      Which long term charts are you referring to?

      Danny

      • vick said

        danny,
        good morning, i meant long term monthly chart and i was reffering to your post of FEBRUARY 3rd post of monthly chart please.

        vick

      • Danny said

        OK. You mean the LT wave chart.
        The LT wave will not change, but whether the market will follow it is always another question. At the end of the month we will be able to tell how good or how bad the LT wave has been. As with every other method or indicator, I wouldn’t expect it to work more than 60% of the time.
        Maybe I have to do a post about the “60% rule”.

        Danny

  2. vick said

    danny,
    thanks again, i again must say about greatness for being Humble and never say not expect failures; a sign of a real gentleman and a great trader. again with hat off , thank you

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