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Our key reversal levels going into next week: Status Key (W) Mode Key (D) Nasdaq BULL S: 3238 DECLINE R: 3450 S&P 500 BULL S: 1541 DECLINE R: 1640 Nikkei BULL S: 11933 DECLINE R: 13692 FTSE 100 BEAR * R: 6384 DECLINE R: 6506 DAX BEAR * R: 8092 DECLINE R: 8241 Bonds (TLT)…
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I am getting a sell signal for the Euro/US$ (click for larger image): The 1.34 level also happened to be our upside target for the Euro. *** Meanwhile, both the Nasdaq and the S&P 500 have closed above their daily reversal key levels, putting them in rally mode again. Their daily support key levels are…
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We have recorded the first negative lunar green period of the year. The Nasdaq lost 59 points. Is this the start of a prolonged downturn in the stock markets? The current lunar red period will probably give us good clues going forward. Let’s take a look at the S&P 500 chart (click for larger image):…
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Here are our key reversal levels for next week. Notice how the key levels have changed from last week. They typically go up (or down) with the market. Status Key (W) Mode Key (D) Nasdaq BULL S: 3233 DECLINE R: 3456 S&P 500 BULL S: 1534 DECLINE R: 1644 Nikkei BULL S: 11891 DECLINE R:…
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Got some questions on the Nikkei crash, so I will give my technical charts and my updated key levels, including those for Nikkei and for long term treasury bonds (TLT). The Nikkei crash started a few weeks ago, and now seems to be spilling over in other markets. The Japanese market is down over 20%…
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Markets bounced back from predictable support levels, as we mentioned last week. With a couple more lunar green period days to go, we are likely to see some additional upside early in the week, but the question remains if we will get any further than that. Let’s have a look at the Nasdaq chart (click…
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As a follow up to the key levels we posted a few days ago, here they are going into the next week. Notice how the Nasdaq has closed above its daily key level yesterday and is now in rally mode again. The S&P 500 closed just a few points below its daily key level and…
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Yesterday, all three major US stock indices closed below my daily trailing stop-loss levels. It is the first time it happens this year. This doesn’t mean we are in a bear market already, as the stocks may still rebound. But, if they also fall below my weekly stop-loss levels, then we will be in a…
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A few weeks ago, when we last covered the S&P 500, I warned that the market was likely to give us a few good down days in the last week of May, with a target of 1600-1625, and then another rally. See: When everybody expects the same thing… We got the down days and the…
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The recent advances in the stock market have led to an explosion in articles contending that we are in a new stock market bubble or mania. Some analysts are seeing a parabolic peak already. Almost everyone seems to agree that some market decline should come any day now. The number of references to “bubble” on…
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LunaticTrader Blog 