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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: 3242 Down DECLINE R: 3435 Up S&P 500 BULL S: 1549 Down DECLINE R: 1629 Up Nikkei BULL S: 12184 Down RALLY * S: 13307 Up FTSE 100 BEAR R: 6338 Down DECLINE R:…
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For our most recent coverage on gold see Prospects for gold It is by now clear that scenario 1 is out of the way, so we can revisit scenario 2 and 3, which pointed to possible downside targets of $1080 and $1260. Since gold is now sitting just above $1260, that scenario deserves more attention…
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There is a saying that one should buy “blood in the streets”. But that doesn’t mean one cannot buy too early. We are seeing popular protests in places like Turkey and Brazil, and that has driven down the stocks in most emerging markets. Time to buy? Here is a chart of the EEM emerging markets…
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A reader has asked about the supermoon we had over the weekend. Does it affect stocks in a certain way? A supermoon happens when a full moon occurs near its closest point to the Earth. This makes the full moon appear bigger than normal. We get one about every 14 months, and they are easy…
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Our key reversal levels going into next week: Status Key (W) Mode Key (D) Nasdaq BULL S: 3238 DECLINE R: 3450 S&P 500 BULL S: 1541 DECLINE R: 1640 Nikkei BULL S: 11933 DECLINE R: 13692 FTSE 100 BEAR * R: 6384 DECLINE R: 6506 DAX BEAR * R: 8092 DECLINE R: 8241 Bonds (TLT)…
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I am getting a sell signal for the Euro/US$ (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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