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Comments on the key levels for this week : * Major stock markets have put in a strong week. The FTSE100 has broken above its weekly key reversal level and is now bullish again. This leaves Nikkei as the only major market that is still bearish on the weekly level. Meanwhile weekly MoM is turning
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Every new month is a good opportunity to check out some monthly charts and key reversal levels. It helps to keep a proper long term perspective. Let’s start with the LT wave chart for May (click for larger image): The LT wave chart for April did a fairly decent job. The month started strong as
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Stocks started the week on a strong note, only to give back those gains by the end of week. Yet another sign that the peak is in? Or just a pause before we head higher again? Here is the current S&P 500 chart (click for larger image): The S&P has held up much better than
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Comments on the key levels for this week : * Major stock markets continue to show a rather mixed picture in the weekly key reversal levels. FTSE100 and Nikkei remains mildly bearish with MoM turning upwards, while the Nasdaq , S&P 500 and DAX are mildly bullish with MoM going down. This picture will eventually
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It is human nature to look for patterns in the world around us. The ability to recognize and remember patterns has been crucial for our survival as a species. But the same ability has also led people to look for patterns in the sky, patterns in recorded history and patterns in stock charts. This has
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Comments on the key levels for this week : * The Nasdaq and the Nikkei tested their Bottom1 targets last week and bounced back strongly. For the Nikkei we now see weekly MoM turn up, the first major index to do so. This is a tentative sign that the recent “correction” may be over already.
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Some interesting developments in my daily key reversal levels. * Daily momentum (MoM) remains down for all major stock indexes, but if markets do not drop today then MoM will probably turn up for several markets. That would set us up for a rally. * Gold broke above its daily key reversal level on Monday
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US stock markets have started to slide. It’s not that we have not been warning in recent weeks, as all my indicators have been pointing down. I could actually repost my March 24 outlook and be done for this week. But that would not be interesting and I have some new charts and information, so
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Comments on the key levels for this week : * Nice drops in the Nasdaq and S&P 500 this week. This is the correction we have been warning for since the middle of March. US markets are now testing their weekly key reversal levels. Next week we will probably know if the Nasdaq and S&P
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Remember the “green shoots” that government officials like to talk about whenever the economy is weak and elections are near? They never talk about “brown leaves”. But markets are more honest, they show us brown leaves as well as green shoots in a candlestick chart. This week we have what I call a “brown leaves”
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LunaticTrader Blog 