Our key reversal levels going into next week: Current Status Key (W) MoM (W) Mode Key (D) MoM (D) Nasdaq 3775 BULL S: 3473 6.13 (5.94) RALLY S: 3687 7.80 (7.49) S&P 500 1710 BULL S: 1611.60 2.50 (2.31) RALLY S: 1671.80 8.46 (8.41) Nikkei 14742 BULL S: 12908 1.64 (1.08) RALLY S: 14064 5.78… Continue reading Key reversal levels for week of September 23, 2013
Category: Market Commentary
Nasdaq: the optimistic case
Last week we issued a melt-up alert, warning for a buying panic if the Nasdaq broke out above 3730. That seems to be what we are getting right now. How would things proceed if this most optimistic scenario continues to unfold? Here is a chart projecting a path forward for the Nasdaq (click for larger… Continue reading Nasdaq: the optimistic case
What to make of those new highs?
Markets pushed higher last week and many market indices reached new highs. Our LT wave chart for September indicated strength around the 16th, so yesterday may have been the high for the month. Where do we go from here? Let’s have a look at the Nasdaq chart (click for larger image): We have another week… Continue reading What to make of those new highs?
Key reversal levels for week of September 16, 2013
Our key reversal levels going into next week: Current Status Key (W) MoM (W) Mode Key (D) MoM (D) Nasdaq 3722 BULL S: 3449 5.94 (6.07) RALLY S: 3643 6.48 (5.93) S&P 500 1688 BULL S: 1603.40 2.31 (2.78) RALLY * S: 1657.60 5.27 (4.25) Nikkei 14405 BULL S: 12814 1.08 (0.9) RALLY S: 13890… Continue reading Key reversal levels for week of September 16, 2013
MoM indicator
A few weeks ago I introduced the “MoM” indicator in the context of my weekly key reversal levels. In this post I will give more info on the MoM and how to use it. The main idea behind the key reversal levels is “market orientation”, where is the market right now, and where it appears… Continue reading MoM indicator
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