key reversal levels for week of november 17, 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 most of the time, and helps to avoid big losses on investments.TRANSCRIPT
Key reversal levels for week of November 17, 2014
US and Japanese stocks strong, European markets remain the global laggards.
Bonds (TLT) weak bullish, stagnating.
Gold still fully bearish for long term investors.
$EURUSD continues to hold on to the 1.25 level.
Oil remains fully bearish. Waiting for MoM to turn up in the coming weeks. A -8 is rare on the weekly level. Oil now down 24% since our weekly mode turned bearish 18 weeks ago.
Weekly keys:
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Nasdaq and S&P have downward MoM after a monster rally. Look for some pullback.
Nikkei has MoM +10, the maximum.
Bonds trying to rally, but not very convincing.
Gold bouncing back with upward MoM. Look for a test of the daily key.
EURUSD stable. Has been in bearish mode for 95 days = extremely long. A close above 1.2638 would turn it bullish.
Oil is extending its decline. $77 level didn't hold. The next lower target at $68 may be reached. Waiting for MoM to turn back up, which would give a speculative buy signal.
Daily keys:
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Buy signals for Singapore, Social Media sector, South Africa, Turkey and MSCI World index.
Markets to watch, very close to turning bullish: Canada.
Markets to watch, very close to turning bearish: Australia, Mexico.
Comment: A majority of markets is now back in the bullish camp. It is quite important to see them build on those recent gains. A failed rally would not be a good omen. European markets are significantly weaker than the rest of the world, with Switzerland being the only exception.
Weekly keys for World markets and sectors:
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Buy signals for BA and T 24 stocks bullish, up from 22 last
week. Above 20 = healthy bull market. See article: Keeping an eye on the Dow stocks
Comment: Only 6 Dow stocks bearish, and 5 of them have upward MoM. As I said last week, go with the flow. There is no way to tell how long stocks will stay in weekly bullish mode. As you can see in the table, some stocks have been in bullish mode 60 or even 80 weeks, racking up big gains. Some of the stocks that have just gone bullish may look the same 60 weeks down the road. The best trending moves start when there seems to be no good reason to buy.
Weekly keys for the 30 Dow stocks:
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Note: the daily key levels for 100s of stocks and ETF can be picked up for a few $ on Scutify every day: click here
A new Top1 target for DAX at 9964.
A new Bottom1 target for TLT at 116.68
US and Japanese stocks sitting right at their Top1 targets → may turn down from here.
Gold and EURUSD have bounced from their Bottom1 targets.
Crude Oil fell below its Bottom1, the next target at $68.40 is now in play.
Key target zones:
Legend* = new or updated target
Note: we use a +/-1% zone around these targets.
These key target zones are a by-product of the key level calculations.
When a key target is reached the market will typically react and turn back from it. On the second or third attempt the target gets finally broken and then the next target comes into play. So these key target zones can be used as price objectives for taking profits or for entering the market after a significant sell-off. They can be seen as a kind of pivot points.When MoM indicator reverses right near a key target it is very likely that the market has reached a temporary peak (or bottom).
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
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 follow or contact 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.
The daily key levels for 100s of stocks and ETF can be picked up for a few $ on Scutify
every day: click here
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 follow or contact 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.
The daily key levels for 100s of stocks and ETF can be picked up for a few $ on Scutify
every day: click here