key reversal levels for week of november 10, 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 10, 2014
Weekly MoM is now up for all major stock indexes. The European markets are still lagging, but they are not far away from turning bullish.
Bonds (TLT) see MoM turn down, signaling that they may have peaked. Taking some partial profits is a good idea here.
Gold still fully bearish. Wait.
$EURUSD is trying to hold on to the 1.25 level. Prepping for a rally?
Oil remains fully bearish. Waiting for MoM to turn up in the coming weeks.
Weekly keys:
© LunaticTrader.com
Nasdaq and S&P have downward MoM after a monster rally. Look for some pullback.
Bonds jumping back into daily bullish after a 1 day dip into bearish mode. Bouncing right back is a good omen, but follow through needs to come quick.
Gold dipped to our Bottom target and came right back. But it remains fully bearish. Wait for MoM to turn up.
EURUSD stays very weak. Watch the Bottom1 target at 1.2410
Oil touched our Bottom target at $77.40 → Keep watching that level. If it holds a few more days then Oil is likely to climb back above $80
Daily keys:
© LunaticTrader.com
Weekly MoM is turning up for Bitcoin, France, Hong Kong, Singapore and South Africa.
Markets to watch, very close to turning bullish: Canada, Malaysia, Singapore, South Africa, Spain, Turkey and MSCI World Index.
Markets to watch, very close to turning bearish: Hong Kong and Indonesia.
Comment: A rather neutral week with little change. Several markets remain close to their weekly key levels.
Weekly keys for World markets and sectors:
© LunaticTrader.com
Buy signals for CSCO GE MRK and WMT
22 stocks bullish, up from 18 last week. Back above 20 = healthy bull market. See article: Keeping an eye on the Dow stocks
Comment: We are back above 20 bullish stocks. This officially puts the “ebola correction” in the history books. How long will the good times last? Nobody knows. When the number of bullish stocks drops below 15 again we will know it is time to get out. That could be next week or next year.. With key levels we just watch what happens and respond accordingly.
Weekly keys for the 30 Dow stocks:
© LunaticTrader.com
A new Top1 target for S&P 500 at 2031. Yes, that's right where the market closed last week.
It is not easy to display the key targets in a table format, so I have tried to get them into a chart. I posted a few on scutify last week:
Here is the one for EURUSD Key targets chart for Gold And for Oil Gold and oil bounced very nicely
off these targets. For Euro it remains to be seen.
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/
© 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.