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Markets turned down as expected. So far it has been a fairly mild downturn, but that doesn’t mean it is over already. Let’s have a look at the S&P 500 (click for larger image): The long term uptrend is intact, but none of my indcators is showing any signs of a bottom at this point.
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Key reversal levels for this week: Weekly Current Mode Key (W) MoM (W) Weeks % Ch. Nasdaq 4,000.98 3,758.37 8.29 49 29.52 S&P 500 1,775.31 1,718.10 7.75 54 25.35 Nikkei 15,403.11 14,070.27 5.58 55 62.72 FTSE 100 6,440.00 6,629.66 1.38 0 0.00 DAX 9,006.46 8,774.91 7.47 22 9.33 Bonds (TLT) 103.21 107.46 -2.09 30 -10.92
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In last week’s outlook we warned for a December dip in stock markets. The market has showed some weakness already, but Friday’s surge recovered most of the losses. Unfortunately, that hasn’t really improved the technical picture. Here is the current chart for the Nasdaq (click for larger image): The chart is very similar to the
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Key reversal levels for this week: Weekly Current Mode Key (W) MoM (W) Weeks % Ch. Nasdaq 4,062.52 3,738.41 8.41 48 31.51 S&P 500 1,805.09 1,710.97 8.27 53 27.45 Nikkei 15,299.86 13,933.64 4.96 54 61.63 FTSE 100 6,552.00 6,501.83 2.63 21 0.11 DAX 9,172.41 8,749.50 8.12 21 11.34 Bonds (TLT) 102.92 107.70 -1.71 29 -11.17
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For earlier versions of these charts, see our June article. Gold has dropped to $1215, one of the bottom targets we mention in our weekly key reversals posts. So, this is a good opportunity to update the long term charts. Let’s start with the monthly chart (click for larger image): Gold appears to be forming
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It seems like every other site or blog is cranking out an article about bitcoins those days, so let’s do one too. Let me start by telling that I have always been a fan of internet currencies and 15 years ago I was among the first one thousand people to open an account with the
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The start of a new month is always a good opportunity to take a look at longer term charts and indicators. While monthly charts do not give new signals very often, they can be very significant because monthly trends often continue for years. The key reversal levels I have been sharing on a weekly basis
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Last week we looked at the potential for a further rise in December. Markets have indeed pushed higher and the Nasdaq is now comfortably above 4000, but my indicators are starting to ooze warning signs for the S&P 500. Here is the current chart (click for larger image): The S&P has been grinding up to
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Here is our key reversal levels table for next week: Weekly Current Mode Key (W) MoM (W) Weeks % Ch. Nasdaq 4,059.88 3,714.71 8.31 47 31.42 S&P 500 1,805.81 1,702.00 8.29 52 27.50 Nikkei 15,661.87 13,828.43 3.94 53 65.45 FTSE 100 6,650.60 6,504.67 3.46 20 1.62 DAX 9,405.29 8,714.19 8.32 20 14.17 Bonds (TLT) 104.45
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Stocks are climbing again after yet another brief pullback. After a one way year like this it is quite normal to see major indexes end the year at or near their highs. So, I wouldn’t look for much downside action in December, unless some major disaster strikes. How high could we go in the last
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