key reversal levels for week of september 1, 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 September 1, 2014
FTSE100 has turned bullish with upward MoM.
Nasdaq and S&P 500 are back to upward MoM as well, consistent with a continuation of bull market.
DAX continues to lag. Failed to close above weekly key level, so still bearish.
Bonds still strong but reaching their long standing Top target at 119.50.
Gold, Euro and Oil remain in weekly bearish mode.
Weekly keys:
© LunaticTrader.com
Daily MoM has turned down for most major stock indexes. Look for some give-back after the recent rally.
Bonds fully bullish and reaching their Top target. This may be a major peak.
Gold has held up well and MoM is now upwards. Can it close above its daily key level?
EURUSD has reached its Bottom1 target at 1.3135 and MoM has fallen to a very depressed -8 level. Looking for some rebound move to start.
Oil market has rallied after testing its Bottom1 target. Next hurdle is the daily key level, currently at 96.62
Daily keys:
© LunaticTrader.com
A lot of markets have picked up positive MoM this week: Canada, Dow Jones Industrials, France, India, Russell 2000, Spain and Switzerland.
Still fully bearish (= avoid): Bitcoin, Italy, Malaysia, Russia
Bearish, but improving MoM: France and Spain
Markets to watch, coming very close to weekly key reversal: France, Malaysia and Spain.
Weekly keys for World markets and sectors:
© LunaticTrader.com
20 stocks bullish, unchanged from 20 last week. Above 20 = healthy bull market. See: Keeping an eye on the Dow stocks
MoM turning up for CAT, GE, IBM, JNJ, KO, TRV, UNH, UTX and WMT
We now have a majority of stocks with upward MoM. That's a plus. But one would want to see a few more stocks to make it into green Mode. Maybe next week.
Weekly keys for the 30 Dow stocks:
© LunaticTrader.com
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).
This table lists the two main Top and Bottom targets.
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/
© LunaticTrader.com
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.
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.