key reversal levels for week of november 3, 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 3, 2014
Nasdaq and S&P 500 are now bullish with upward MoM. The Nikkei has also joined the bullish camp, with the European stock indexes still bearish.
Bonds (TLT) stay fully bullish with upward MoM.
Gold has taken a turn for the worse and picked up downward MoM again.
$EURUSD is trying to hold on to the 1.25 level. May try to stage a rally.
Oil remains fully bearish. But MoM reaching very depressed -8 levels, so we get ready for MoM turning up in the coming weeks.
Weekly keys:
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All major stock indexes are now in daily bullish mode. When MoM turns down it will be time to take some partial profits after the recent rally.
Bonds stagnating and coming close to a test of their daily key level.
Gold fully bearish and dropping rapidly. It now sits right at our Bottom1 target, so a rebound possible from this level.
EURUSD stays very weak. Watch the Bottom1 target at 1.2410
Oil still trying to build a base at $80. A rebound rally to daily key level is in the cards.
Daily keys:
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Weekly buy signal for Australia, Dow Industrials, Hong Kong, Russell 2000, Semiconductors and Switzerland.
Markets to watch, coming very close to turning bullish: Canada, Malaysia, Singapore, South Africa, Spain, Turkey and MSCI World Index.
Comment: A serious improvement this week and several other markets are also at the verge of turning weekly bullish again. This does look good, but we must see follow through, otherwise this risks turning into a failed breakout.
Weekly keys for World markets and sectors:
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Buy signals for AXP JNJ JPM PFE V and VZ
18 stocks bullish, up from 12 last week. Back above 15 = healing market. See article: Keeping an eye on the Dow stocks
Comment: We are back above 15 bullish stocks. This almost puts the recent dip behind us, but in a healthy bullish market we want to see 20 or more bullish stocks. So, even though the market comeback has looked very impressive, it is still too early to declare this market fully healthy.
Weekly keys for the 30 Dow stocks:
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A new Bottom2 target for Bonds (TLT) at 106.88
A New Bottom2 target for Oil at $77.40
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.
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.