key reversal levels for week of october 27, 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 October 27, 2014
Nasdaq and S&P 500 have closed back above their weekly key reversal level. This turns them bullish again. But the move is questionable because MoM stays to the downside. There is above average risk that this is a fake-out move. Next week(s) will tell.
Bonds (TLT) stay fully bullish with upward MoM.
Gold and EURUSD remain weak bearish with upward MoM.
Oil is fully bearish. Oil is down 19.3% since it turned bearish 15 weeks ago.
Weekly keys:
© LunaticTrader.com
Nasdaq and S&P500 are into rally mode with upward MoM.
Nikkei, FTSE100 and DAX are still bearish, but trying to get back above their key reversal levels.
Bonds gradually weakening, coming close to a test of daily key level.
Gold rally appears to be failing, must hold above daily key at $1225.83 to stay bullish.
EURUSD failed to turn bullish and now MoM is down again. Continuing slide.
Oil tries to build a base at $80. Rally to daily key at $85.54 is possible.
Daily keys:
© LunaticTrader.com
Weekly sell signal for Brazil MoM is turning up for Turkey, first
market to do so. Markets to watch, coming very
close to turning bullish: Australia, Canada, Dow Industrials, Hong Kong, Russell 2000, Semiconductors, Singapore, Switzerland, Turkey, MSCI World.
Comment: Several markets coming very close to turn bullish again. If they fail to do so we will probably see another swing to the downside.
Weekly keys for World markets and sectors:
© LunaticTrader.com
Buy signals for DIS and MMM 12 stocks bullish, up from 10 last
week. Below 15 = bearish market. See article: Keeping an eye on the Dow stocks
MoM turns down for KO MoM turns up for MMM TRV UNH
and XOM Comment: A few more bullish
stocks and a few more stocks with MoM turning up. First signs of improvement, but in a bullish market we should see 20 or more bullish stocks. Too early to declare the next bull run already.
Weekly keys for the 30 Dow stocks:
© LunaticTrader.com
A new Top1 target for Gold at $1293
A New Bottom2 target for Oil at $68.40
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/
© 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.