Latest daily key reversal levels:
(Legend: Mode : green = bullish, pale green = weak bullish – may have peaked, red = bearish, pink = mildly bearish – may have bottomed | Key: key reversal level | W: weekly mode | %Ch.: blue = profit, orange = loss | for more details about these key levels, see: https://lunatictrader.wordpress.com/key-reversal-levels/ )
Comments:
* Several changes in our key reversal levels today.
* Nasdaq has jumped back into bullish mode. But the move is suspect as the breakout happens with MoM remaining to the downside. So could turn out to be a fake out move.
* DAX is the first market that sees MoM turn upwards, so may have bottomed for now. Daily key level at 9451 is now the first upside target.
* Gold and $EURUSD have seen nice rallies in recent weeks, but MoM is turning down on them. That means they probably peaked for a while and are setting up for a test of their daily key reversal levels. Staying cautious as long as MoM goes down.
PS: to get the key reversal levels for other world markets or individual stocks, follow me on Twitter.
Danny
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