Comments for this week (the key reversal tables are below) :
* DAX, FTSE 100 and Nikkei have closed below their weekly key reversal levels and are now in fully bearish mode. Avoid until we see weekly MoM turning back up for these markets.
* The Nasdaq and S&P 500 are quite a bit stronger and remain well above their weekly key reversal levels, but the Nasdaq has fallen below its daily key level and is now in declining mode. I would not do any buying until we see daily MoM turning up for the US markets.
* Now that markets have reached our Top1 targets and turned back down from them, we can start looking for the Bottom1 targets (see last table)
* Bullish/bearish status for other major world markets is posted on my twitter account every weekend.
* Bonds (TLT) , gold and EURUSD remain fully bullish. Look for Top1 targets to be reached in those markets.
* There are adjusted Top2 targets for Nasdaq and S&P 500 this week.
* Oil has gone into declining mode last week and is coming close to its weekly key reversal level. A weekly close below 97.23 would turn Oil (CL) fully bearish.
***
Key reversal levels for next week:
| Weekly | Current | Mode | Key (W) | MoM (W) | Weeks | % Ch. |
|---|---|---|---|---|---|---|
| Nasdaq | 4,245.40 | 3,948.74 | 7.00 | 62 | 37.43 | |
| S&P 500 | 1,841.13 | 1,778.46 | 3.53 | 67 | 29.99 | |
| Nikkei | 14,327.66 | 15,236.95 | -2.18 | 0 | 0.00 | |
| FTSE 100 | 6,527.90 | 6,747.93 | 0.81 | 0 | 0.00 | |
| DAX | 9,056.41 | 9,367.58 | 1.80 | 0 | 0.00 | |
| Bonds (TLT) | 108.52 | 105.33 | 2.52 | 7 | 1.21 | |
| Gold (spot) | 1,382.96 | 1,278.62 | 3.44 | 4 | 4.92 | |
| $EURUSD | 1.3905 | 1.3577 | 2.20 | 33 | 4.69 | |
| Oil (CL) | 98.89 | 97.23 | 2.66 | 4 | -1.23 |
(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:
| 3/14/2014 | Current | W | Mode | Key (D) | MoM (D) | Days | % Ch. | Str. # |
|---|---|---|---|---|---|---|---|---|
| Nasdaq | 4,245.40 | 4,296.21 | 0.95 | 0 | 0.00 | 35 | ||
| S&P 500 | 1,841.13 | 1,838.23 | 2.28 | 22 | 1.15 | 2 | ||
| Nikkei | 14,327.66 | 15,047.78 | 0.39 | 0 | 0.00 | 39 | ||
| FTSE 100 | 6,527.90 | 6,740.39 | -5.43 | 4 | -2.42 | 11 | ||
| DAX | 9,056.41 | 9,484.86 | -7.77 | 9 | -4.20 | 11 | ||
| Bonds (TLT) | 108.52 | 106.57 | -0.07 | 1 | -0.41 | 1 | ||
| Gold (spot) | 1,382.96 | 1,317.56 | 4.78 | 45 | 10.81 | 1 | ||
| $EURUSD | 1.3905 | 1.3757 | 4.76 | 25 | 2.13 | 1 | ||
| Oil (CL) | 98.89 | 101.18 | -4.04 | 2 | 0.81 | 3 |
(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 | 4531 * | 3797 | 3530 |
| S&P 500 | 1870 | 1950 * | 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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