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This is a follow up article on a topic I addressed in early June, see: What parabolic peak? The Dow Jones has kept climbing to new record highs, and this is how the comparison with the post-depression bull market in the 1920s has evolved (click for larger image): The correlation has actually increased to 0.84…
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As mentioned in my weekend post giving our key reversal levels, my method also spins off key target levels along the way. Here they are in table format, and from now on I will include them in my weekly key reversals post: Key Targets Up(W) Up2(W) Down(W) Down2(W) Up(D) Up2(D) Down(D) Down2(D) Nasdaq 3690 3920…
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The scenario we lined out last week clearly didn’t pan out. The market stalled near its recent highs and then dropped significantly. With another week of lunar red period to go, it is probably too early to jump back into the market already. Let’s have a look at the Nasdaq chart (click for larger image):…
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Our key reversal levels going into next week: Status Key (W) Mom (W) Mode Key (D) Mom (D) Nasdaq BULL S: 3379 Up DECLINE R: 3632 Down S&P 500 BULL S: 1589.20 Down * DECLINE R: 1684.10 Down Nikkei BULL S: 12573 Down DECLINE R: 14115 Up FTSE 100 BULL S: 6304 Up DECLINE R:…
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Markets broke down yesterday. This means the window for potential new highs is now going to be closed for a while. Looking for possible downside targets, this chart can become useful (click for larger image): The important green trend line was now clearly broken again, and this means the first support should come at the…
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The market came under some pressure last week, but still ended the lunar green period with a respectable 55 points gain on the Nasdaq. It looks like stock markets are ripe for an autumn correction, and the failure to build on gains last week is a warning sign. Is the decline getting started now? Let’s…
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Our key reversal levels going into next week: Status Key (W) Mom (W) Mode Key (D) Mom (D) Nasdaq BULL S: 3375 Up RALLY S: 3597 Down S&P 500 BULL S: 1586.80 Up RALLY S: 1675.70 Down Nikkei BULL S: 12623 Down * DECLINE R: 14207 Down FTSE 100 BULL S: 6296 Up RALLY…
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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…
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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…
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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,…
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LunaticTrader Blog 