Key reversal levels for week of April 7, 2014
Posted by Danny on April 6, 2014
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.
Key reversal levels for next week:
|Weekly||Current||Mode||Key (W)||MoM (W)||Weeks||% Ch.|
(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. #|
(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):
(* = new target ) (for more details about these key targets, see: https://lunatictrader.wordpress.com/2013/08/20/key-target-levels/ )
Stay tuned, Danny