key reversal levels for week of november 24, 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 24, 2014
All major stock indexes are back to weekly bullish mode. For how long? There is no way to know.
Bonds (TLT) weak bullish, stagnating.
MoM turns up for Gold. This makes it a speculative long term buy. Next hurdle is the weekly key level, currently at $1252
$EURUSD continues to build a base near 1.25.
Oil remains fully bearish. Waiting for MoM to turn up in the coming weeks. A -8 is rare on the weekly level.
Weekly keys:
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Stocks are trying another push into new highs. MoM back up for $&P 500, but still pointing down for Nasdaq.
Bonds trying to rally, but TLT not getting away from the 120 level. Looks weak.
Gold turns bullish on the daily mode. Increasingly likely that gold has put in a major low.
EURUSD is now bearish for 100 days and down almost 9% since we got the sell signal. That's as good as it gets for trend following, but a rally will start eventually.
Oil is trying to rally with the daily key level as a first target.
Daily keys:
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Buy signal for Canada. Weak sell signal for Australia. Markets to watch, very close to
turning bullish: Brazil, France, Spain.
Markets to watch, very close to turning bearish: Hong Kong.
Speculative buy: gold stocks can be picked up on weak days. MoM is turning up from a very oversold -8 level.
Comment: Most markets have upward MoM, so it is likely that we will see more greening in this table.
Weekly keys for World markets and sectors:
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Buy signals for CAT 25 stocks bullish, up from 24 last
week. Above 20 = healthy bull market. See article: Keeping an eye on the Dow stocks
Comment: A lot of green (and blue for profits !). When a stock turns bullish it can be for 1 week or for 80 weeks. You never know. Buying when a buy signal appears is like stepping on bus that just gets underway. And we don't know where the bus is going, so it is a leap of faith. When the bus stops we will get off.
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 Top2 target for Nasdaq at 5098
A new Top2 target for S&P 500 at 2187
.
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:
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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.
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