LunaticTrader

Investing with the Moon

Key reversal levels for week of March 10, 2014

Posted by Danny on March 8, 2014

Comments for this week (the reversal tables are posted below) :

* The Nikkei has closed above its weekly key reversal level and is now bullish again. But it could be a fake out move as its weekly MoM remains to the downside, which is suspect. If Nikkei moves above 15500 we can become more confident that this rally is for real.

* US and UK markets are once again testing their Top1 targets and seem to be stalling near these levels. Daily MoM remains to the downside for Nasdaq and FTSE 100, while the DAX continues to weaken. It looks like most markets will need another pullback before they can climb higher.

* Bonds (TLT) are weakening as well. Weekly MoM is turning down and on the daily level bonds have fallen below their key reversal level, putting them into declining mode. If TLT closes below 105.03 next week it will enter fully bearish mode.

* We have a new Top2 target for gold at $1541. This targets will come into play if gold can break above its Top1 target.

***

Key reversal levels for next week:

Weekly Current Mode Key (W) MoM (W) Weeks % Ch.
Nasdaq 4,336.22 3,934.46 7.00 61 40.37
S&P 500 1,878.04 1,774.88 3.18 66 32.60
Nikkei 15,274.07 14,610.87 -2.05 0 0.00
FTSE 100 6,712.70 6,589.90 1.15 2 -1.83
DAX 9,350.75 9,095.92 3.09 34 13.51
Bonds (TLT) 105.89 105.03 2.72 6 -1.24
Gold (spot) 1,339.64 1,273.44 2.50 3 1.63
$EURUSD 1.3878 1.3540 1.50 32 4.49
Oil (CL) 102.58 97.21 2.62 3 2.46

(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/ )

Latest daily key reversal levels:

3/7/2014 Current W Mode Key (D) MoM (D) Days % Ch. Str. #
Nasdaq 4,336.22 4,236.65 6.23 19 5.12 2
S&P 500 1,878.04 1,831.29 6.49 17 3.18 1
Nikkei 15,274.07 14,751.60 2.21 1 -0.04 5
FTSE 100 6,712.70 6,704.21 0.91 18 0.60 2
DAX 9,350.75 9,601.36 -1.59 4 -1.09 7
Bonds (TLT) 105.89 107.35 1.55 0 0.00 35
Gold (spot) 1,339.64 1,306.85 3.73 40 7.34 2
$EURUSD 1.3878 1.3700 2.86 20 1.93 1
Oil (CL) 102.58 99.81 2.42 31 6.09 2

(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/ )

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

Key Targets Top1 Top2 Bottom1 Bottom2
Nasdaq 4390 4566 3797 3530
S&P 500 1870 1934 1755 1641
Nikkei 17220 13860 12940
FTSE 100 6800 7250 6230 5980
DAX 9800 10240 8715 8510
Bonds (TLT) 111.80 114.20 102 96.25
Gold (spot) 1424 1541 * 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/ )

PS: if you are looking for key reversal levels for other world markets or individual stocks, then follow me on Twitter. We also try to tweet the daily key reversal levels every day.

Good luck, Danny

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