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Our key tables and comments for this week : * The FTSE100 index has gone into fully bearish mode, the first major market to do so. The DAX is weak as well, but still holding above its weekly key reversal level. Both are testing their Bottom1 targets already. The US markets have been stronger and…
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Stock markets seem unstoppable. The Dow has broken above 17000 and the S&P 500 is closing in on the 2000 level, completely in line with the S&P scenario we posted two weeks ago. The market setup is now a carbon copy of the one we had in late December (click for larger image): Overhead resistance…
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Comments for this week : * US markets have continued to push higher, while the UK and Germany are more cautious and continue to sit near major resistance levels. Weekly key levels remain bullish for stocks. * In the daily key levels all major stock indexes have followed the lead of the Nasdaq and are…
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Last month’s LT wave chart suggested weakness in stock markets. That didn’t pan out for the US indexes, but still the wave got most of the short term swings correct. I have embedded a S&P 500 chart for June, making it easier to see (click for larger image): The blue line did a fairly good…
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Average wages are stagnant in the developed countries. Which also means that consumer spending is stagnant, because in the longer term people can spend only as much as they make. So, the economy stays weak. What is the solution? Central banks are trying to create more inflation, as if that will somehow wake the developed…
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Comments for this week : * We have updated our page explaining the key reversal levels with a lot of new info and details for the different strategy numbers as found in the last column of the daily key tables. This should make it easier to understand and follow this approach. I hope to add…
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Last week I asked: is the bull exhausted? The answer seems to be a resounding no. The S&P 500 has burst into new highs already, so it looks like its quick pullback to 1925 is all we can get as far as ‘corrections’ go in the current environment. The round number 2000, which would be…
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Comments for this week : * Continuing bull markets in all major indexes. If the FTSE100 rises a little bit next week we will have a fully bullish picture for stocks again. When and where will it end? Nobody knows. Keeping an eye on the key reversal levels and MoM indicators will tell us when…
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The S&P 500 fell back towards 1920, as we had indicated last week, with other markets also pulling back from recent highs. Still, the Nasdaq closed out the recent lunar red period with a healthy 68 point gain, suggesting ongoing strength in the market. The Nasdaq is one of the indexes that has not exceeded…
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Comments for this week : * Stock markets are hesitating after the recent series of new highs. On the weekly level the bull markets are intact, but in the daily key reversal levels we now see all major indexes with downward MoM, and the FTSE100 has fallen into bearish mode. This can be considered a…
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LunaticTrader Blog 