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Outlook for Week of June 29, 2020

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Free weekly newsletter with outlook and brief comments for world stock markets. Weekly reversal levels for stocks, gold and currencies. This method was designed to keep you on the right side of the market most of the time, letting the winners run while avoiding big losses.

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Outlook for Week of June 29, 2020

  1. 1. Reversal Levels - Outlook for week of June 29, 2020  Number of S&P 500 stocks in bullish trends (blue line): 268 (54%) versus 316 last week.  Number of S&P 500 stocks in daily bullish mode (red line): 131 (26%) versus 275 last week.  Situation is neutral and the number of stocks in bullish trends keeps going down. The red line stays below the blue line. This indicates an ongoing pullback or pause. © Reversallevels.com
  2. 2.  ELC: up | BMO: down | Blue snake: up | Repellor: up.  BMO keeps coming down from extreme peak levels. This is consistent with an ongoing pullback or pause. For how long we don’t know. In minor corrections BMO typically bottoms out near the zero line (see 2016-2017 for plenty examples). © Reversallevels.com S&P 500 Weekly chart
  3. 3.  All major stocks indexes are in bullish trends with upward MoM. But follow through will be needed to avoid failed rallies.  Bonds TLT are weak bullish and appear on their way to test the RevL, currently at 153.60.  Gold is back to fully bullish with upward MoM.  EURUSD is in a fresh bullish trend. Needs follow through.  Oil is fully bullish, but appears to sputter at the $40 level. © Reversallevels.com Major indices
  4. 4.  Sell signal for Thailand SET. Failed rally.  The majority of markets is in bullish trends with upward MoM. But the move appears to be stalling.  Egypt EGX30 is our current best performer. It is down 20.6% since its Sell signal 17 weeks ago. World markets © Reversallevels.com
  5. 5.  Sell signals for CVX, DIS, IBM, JNJ and MCD. Failed rallies.  Bearish divergence for NKE and V.  Partial profits signal for AAPL. A 27% gain in 10 weeks.  Partial profits signal for MSFT. A 19% gain in 11 weeks.  15 stocks bullish, down from 20 last week. Below 20 = sputtering bull market. See: Keeping an eye on the Dow stocks  The rebound is in question and we could see the bear market pick up speed again if the number of bullish stocks falls below 15.  RTX is our current best performer. A 28.6% decline since its Sell signal 17 weeks ago and the move is ongoing. . 30 Dow Jones Industrials stocks © Reversallevels.com
  6. 6.  Weak Buy signal for USDMXN. Possible fake-out move.  For daytraders or swing traders: if you do your trading in the direction of the weekly trend you are likely to do well in the long run. So, try to buy the pullbacks in currencies pairs that are in bullish trends and sell the rallies during bearish trends. Forex & Crypto © Reversallevels.com
  7. 7.  On Twitter: http://twitter.com/lunatictrader1  On Stocktwits: http://stocktwits.com/LunaticTrader  Website: Reversallevels.com For daily comments and questions you can find us here: © Reversallevels.com Disclaimer Investing in stocks, forex or commodities is risky. No guarantee can be given that the opinions or predictions given in this presentation will be correct. Reversallevels.com cannot in any way be responsible for eventual losses you may incur if you trade based on the given information. Simulated trading programs in general are subject to the fact that they are designed with the benefit of hindsight. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. Trade at your own risk and responsibility. Subscription service Daily reversal levels for over 3000 stocks and ETF are available by monthly subscription. For less than $1 a day you can become a more efficient investor: 1 Month ($22) 6 Months ($110) 1 Year ($199) Comes with full instructions and strategies for using the reversal levels and MoM indicator in your own trading. This is an honest method with limited risk, not a get rick quick formula. Give it a try.

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