Yesterday gold closed below its daily key reversal level, which puts it in decline mode again. This means gold could now go on to retest the June lows. The daily key reversal for gold is now at $1315.30, so it takes a close back above that level to switch into rally mode again. Stock markets… Continue reading Quick mid-week update
Author: Dan
Stock trader since 1986.
Method based on proprietary indicators, seasonal patterns and moon cycles.
Margin debt
This is an update of a chart I first shared back in April. See: Is investors’ money where their mouth is? Margin debt at Interactive Brokers (click for larger image): Even though stock markets have continued to climb and are recording record highs, IB customers have reduced the amount of risk they are taking in… Continue reading Margin debt
To the summit
US markets have pushed into new high territory once again. Many other indices are close to doing so. With another week of lunar green period to go, we are in the position where we could get to an important peak. Here is the Nasdaq chart (click for larger image): Major overhead resistance is around 3770,… Continue reading To the summit
Key reversal levels for week of August 5, 2013
Our key reversal levels going into next week: Status Key (W) Mom (W) Mode Key (D) Mom (D) Nasdaq BULL S: 3342 Up RALLY S: 3568 Up S&P 500 BULL S: 1579 Up RALLY S: 1673.40 Up Nikkei BULL S: 12574 Up RALLY S: 13955 Up * FTSE 100 BULL S: 6284 Up RALLY S:… Continue reading Key reversal levels for week of August 5, 2013
LT wave chart for August
Markets came under pressure last week, but held up very well. The recent lunar red period produced a 27 points gain in the Nasdaq, which means the market continues to display strength. Another push higher is in the cards with a new lunar green period now underway. Let’s have a look at the S&P 500… Continue reading LT wave chart for August
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