key reversal levels for week of july 28, 2014
DESCRIPTION
Weekly key reversal levels for stocks, gold and currencies. Including my weekly comments on the state of the markets. Trend following method keeps you on the right side of the market and avoids big losses on investments.TRANSCRIPT
Key reversal levels for week of July 28, 2014
● No major changes in the weekly key levels. Also no changes in direction of MoM.
● Stocks remain a rather mixed bag with Nasdaq and Nikkei strongly bullish while the FTSE100 remains weekly bearish. MoM remains to the downside for S&P 500, despite higher highs last week. This reflects a state of indecision.
● Bonds remain strong while Euro continues to erode.
Weekly keys:
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● On the daily level all major stock markets except Germany are in rally mode with upward MoM. MoM is nowhere near the optimistic +8 zone, so from that point of view there is further room to run.
● Bonds have climbed to their Top2 target, but MoM is to downside, suggesting a pause or pullback for TLT.
● Gold is correcting after recent gains. Needs a close above 1314.79 to get into rally mode again.
● Euro remains fully bearish. Is testing Bottom1 target.
● Oil is in a bear market rally. A failure to close above the daily key level this week would probably result in another leg down.
Daily keys:
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● The Chinese stock market is giving a long term buy signal.Could be the start of a big move. See recent blog post.
● Weekly MoM is turning down for Bitcoin, Dow Industrials and Semiconductors (SOX).
● Weekly MoM is turning up for Singapore and Turkey.
● Watching Russia (RSX) and Russell 2000, as they are only barely holding above their weekly key reversal level. These markets are at risk of turning fully bearish next week.
Weekly keys for World markets and sectors:
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● Sell signal for Boeing (BA)
● Sell signal for General Electric (GE)
● Sell signal for United Technologies (UTX)
● 25 stocks bullish, down from 28 last week. Above 20 = healthy bull market. See: Keeping an eye on the Dow stocks.
● MoM turning up for CVX
● MoM turning down for DIS, KO, PG and T
● We see a rather quick deteriotation for several Dow Industrials stocks. No reason for panic, but if several more stocks turn to red Mode then we better be careful.
Weekly keys for the 30 Dow stocks:
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● We have a new Top2 target for Bonds (TLT) at 119.50
● Nasdaq and S&P 500 are coming close to their Top1 targets.
● Bonds (TLT) have finaly broken above their old Top1 target at 114.60 and have reached 115.70 (which was Top2)
● Euro is testing its Bottom1 target. This could give us a short bounce. Bottom2 target is 1.2870
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/
● Blog: http://LunaticTrader.Wordpress.com
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● On Stocktwits: http://stocktwits.com/LunaticTrader
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.Simulated trading programs in general are 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.
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.Simulated trading programs in general are 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.
Trade at your own risk and responsibility.