Latest daily key reversal levels:
(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/ )
* There was a little glitch in my table calculations which caused the MoM indicator to be off in some cases. This is now completely fixed.
* Weekly mode for S&P 500 is weak bullish (light green), not strong bullish as reported last weekend. The other markets were OK.
* Despite pushing to marginal new highs, most stock indexes continue to show declining MoM on the daily level (and thus weak bullish mode – light green). This means a pause or pullback is likely, so keep a stop-loss close to the market. If MoM turns back up it would indicate a continuation of the bull run.
* Bonds (TLT) continue to be fully bullish. Now up almost 5% since bonds gave their buy signal 33 days ago. Not bad. Keep an eye on our Top1 target for TLT at 111.80
* $EURUSD is barely staying above its key reversal level. With MoM to the downside the euro could go into declining mode any day.
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