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.… Continue reading Dip not done
Category: Market Commentary
Key reversal levels for week of December 16, 2013
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… Continue reading Key reversal levels for week of December 16, 2013
Bearish divergences continue
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… Continue reading Bearish divergences continue
Key reversal levels for week of December 9, 2013
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… Continue reading Key reversal levels for week of December 9, 2013
Long term gold charts update
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… Continue reading Long term gold charts update
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