key reversal levels for week of july 21, 2014
DESCRIPTION
Weekly key reversal levels for stocks, gold and currencies.TRANSCRIPT
Key reversal levels for week of July 21, 2014
● S&P 500: MoM turns down from a very high 7.49. Another chance to take (partial) profits. Nasdaq holds on to rising MoM.
● Bonds (TLT) are showing renewed strength. MoM is turning up, so bull move continues, in its 25th week now.
● Euro weakens as a recent rally attempt has failed to take it back above weekly key level at 1.3719. MoM turning down suggests the downtrend is resuming.
Weekly keys:
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● Mixed signals in major stock indexes. European markets are weakest at the moment, but also in US markets there is hesitation. Daily MoM is down for Nasdaq and S&P 500.
● Bonds are back to fully bullish, benefiting from uncertainty in stocks.
● Euro is fully bearish, which doesn't bode well for gold, that is also struggling to extend recent gains.
● Oil is probably in a bear market rally. If it can print a close above daily key reversal level at 103.83 (nearest futures) then the picture would improve.
Daily keys:
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● We have added bitcoin as well as several sector indexes/ETF to the weekly key level list. Biotech, semiconductors and social media are the newcomers.
● Most world markets remain bullish.
● Weekly MoM is turning down for Biotech, Russell 2000 and Russia.
● Weekly MoM is turning up for Brazil, Dow Industrials and South Korea.
● Divergent MoM between Dow Industrials and Russell 2000 points to an ongoing flight into safety of larger cap stocks.
Weekly keys for World markets and sectors:
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● Buy signal for Pfizer (PFE)
● Sell signal for McDonald's (MCD)
● 28 stocks bullish, unchanged from 28 last week. Above 20 = healthy bull market. See: Keeping an eye on the Dow stocks.
Weekly keys for the 30 Dow stocks:
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● We have an updated Bottom1 target for Crude Oil at $93.46
● FTSE100 and DAX tested and held their Bottom1 targets last week.
● Bonds (TLT) once again trying to break above their Top1 target at 114.60
● Euro coming close to its Bottom1 target
Key target zones:
Legend* = new or updated targetNote: we use a +/-1% zone around these targets.
For more details about these key targets, see: http://lunatictrader.wordpress.com/2013/08/20/key-target-levels/
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More details about the key reversal levels and how to use them in your trading can be found here: http://lunatictrader.wordpress.com/key-reversal-levels/
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For daily key levels, regular market commentary or questions you are welcome to meet us here:
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Disclaimer
Investing in stocks, forex or commodities is risky. No guarantee can be given that the opinions or predictions given in this presentation will be correct.LunaticTrader cannot in any way be responsible for eventual losses you may incur if you trade based on the given information.Hypothetical or simulated performance results have certain inherent limitations.Unlike an actual performance record, simulated results do not represent actual trading.Also, since the trades have not actually been executed, the results may have under- or over-compensated for the impact, if any, of certain market factors, such as lack of liquidity.Simulated trading programs in general are also subject to the fact that they are designed with the benefit of hindsight.No representation is being made that any account will or is likely to achieve profits or losses similar to those shown.The information should not be considered as a recommendation to engage in the purchase and/or sale of any stock, futures contract and/or options.You should be aware of all the risks associated with trading, and seek the advice from your own independent financial advisor before you make any investment decisions.Trade at your own risk and responsibility.
More details about the key reversal levels and how to use them in your trading can be found here: http://lunatictrader.wordpress.com/key-reversal-levels/
● Blog: http://LunaticTrader.Wordpress.com
● On Twitter: http://twitter.com/lunatictrader1
● On Scutify: http://www.scutify.com/profiles/scutifier.aspx?q=LunaticTrader
● On Stocktwits: http://stocktwits.com/LunaticTrader
For daily key levels, regular market commentary or questions you are welcome to meet us here:
© LunaticTrader.com
Disclaimer
Investing in stocks, forex or commodities is risky. No guarantee can be given that the opinions or predictions given in this presentation will be correct.LunaticTrader cannot in any way be responsible for eventual losses you may incur if you trade based on the given information.Hypothetical or simulated performance results have certain inherent limitations.Unlike an actual performance record, simulated results do not represent actual trading.Also, since the trades have not actually been executed, the results may have under- or over-compensated for the impact, if any, of certain market factors, such as lack of liquidity.Simulated trading programs in general are also subject to the fact that they are designed with the benefit of hindsight.No representation is being made that any account will or is likely to achieve profits or losses similar to those shown.The information should not be considered as a recommendation to engage in the purchase and/or sale of any stock, futures contract and/or options.You should be aware of all the risks associated with trading, and seek the advice from your own independent financial advisor before you make any investment decisions.Trade at your own risk and responsibility.