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… Continue reading Key target levels
Category: Market Commentary
Wait for a bottom
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):… Continue reading Wait for a bottom
Key reversal levels for week of August 19, 2013
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:… Continue reading Key reversal levels for week of August 19, 2013
Downside targets for the S&P 500
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… Continue reading Downside targets for the S&P 500
Room for another record high
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… Continue reading Room for another record high
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