Comments on the key levels for this week :
* It was an interesting first week of April. One reader was puzzled and asking how our system can be bullish for the S&P 500 and bearish for Nasdaq. But here we are a few weeks later and the Nasdaq is already more than 5% below its recent peaks while the S&P 500 was still making new all time highs a few days ago.
* The Nikkei and the DAX are seeing weekly MoM turn upwards, and both the Nikkei and FTSE100 are coming very close to their weekly key reversal levels. So we may get back to all markets bullish if these indexes can climb a bit more next week.
* There is a new Bottom1 target for the Nasdaq at 3975.
* Gold has tested its weekly key level and is now bouncing back a bit. But the next major move for gold largely depends on the next move of the Euro, and the Euro continues to suggest more weakness ahead.
* Our weekly key reversal levels for other world markets can be picked up here.
* The weekly key reversal levels for the 30 Dow stocks are available here. 23 stocks are bullish this week. Above 20 is healthy, see : Keeping an eye on the Dow stocks.
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Key reversal levels for next week:
| Weekly | Current | Mode | Key (W) | MoM (W) | Weeks | % Ch. |
|---|---|---|---|---|---|---|
| Nasdaq | 4,127.73 | 3,976.56 | 4.45 | 65 | 33.62 | |
| S&P 500 | 1,865.09 | 1,788.65 | 4.02 | 70 | 31.68 | |
| Nikkei | 15,063.77 | 15,142.56 | -2.30 | 3 | 5.68 | |
| FTSE 100 | 6,695.60 | 6,718.05 | -0.50 | 3 | 2.57 | |
| DAX | 9,695.77 | 9,111.96 | 0.90 | 1 | 0.77 | |
| Bonds (TLT) | 108.46 | 105.35 | 3.67 | 10 | 1.66 | |
| Gold (spot) | 1,302.78 | 1,281.98 | 2.91 | 7 | -1.17 | |
| $EURUSD | 1.3702 | 1.3620 | 2.14 | 36 | 3.16 | |
| Oil (CL) | 101.14 | 97.49 | 2.02 | 7 | 1.02 |
(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:
| 4/04/2014 | Current | W | Mode | Key (D) | MoM (D) | Days | % Ch. | Str. # |
|---|---|---|---|---|---|---|---|---|
| Nasdaq | 4,127.73 | 4,281.18 | -2.51 | 9 | -2.94 | 8 | ||
| S&P 500 | 1,865.09 | 1,855.71 | 2.84 | 37 | 2.47 | 1 | ||
| Nikkei | 15,063.77 | 14,662.45 | 3.38 | 4 | 1.30 | 13 | ||
| FTSE 100 | 6,695.60 | 6,614.39 | 1.64 | 0 | 0.00 | 37 | ||
| DAX | 9,695.77 | 9,402.25 | 6.47 | 7 | 2.83 | 1 | ||
| Bonds (TLT) | 108.46 | 108.64 | 0.34 | 2 | 0.87 | 3 | ||
| Gold (spot) | 1,302.78 | 1,322.14 | -5.79 | 9 | -0.44 | 8 | ||
| $EURUSD | 1.3702 | 1.3823 | -2.64 | 11 | -0.54 | 7 | ||
| Oil (CL) | 101.14 | 99.43 | 1.23 | 6 | -0.20 | 21 |
(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 | 3975 * | 3797 |
| 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 | 1.3390 | 1.2870 |
| Crude Oil(CL) | 104 | 113 | 91.85 | 86.00 |
(* = new target ) (for more details about these key targets, see: https://lunatictrader.wordpress.com/2013/08/20/key-target-levels/ )
Stay tuned, Danny
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LunaticTrader 
Impressive..and subsequently correct outlook on the discrepancy between the Nasdaq and the sp’.
That sure has a fair few confused lately, including yours truly.
–
Welcome PD. I looks like rotation out of some risky (and overvalued) tech sectors, like biotech, social networking and 3d printing, and into safer large cap stocks. So Dow Industrials and S&P500 have been holding up much better than Nasdaq. Whether that continues to be the case remains to be seen of course.
Danny