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Outlook for Week of May 7, 2018


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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 on investments.

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Outlook for Week of May 7, 2018

  1. 1. Reversal Levels - Outlook for week of May 7, 2018  Number of S&P 500 stocks in bullish trends (blue line): 240 (48%) versus 240 last week.  Number of S&P 500 stocks in daily bullish mode (red line): 217 (43%) versus 272 last week.  Situation is bearish, and the number of stocks in bullish trends is flat just below the 50% level. The red line has dropped back below the blue line. It’s too early to tell if the correction is over. ©
  2. 2.  ELC: down. BMO: tentatively turning back up. Blue snake: inching down.  This is a correction or early stage bear market. The rally of the recent weeks is stagnating a bit. Whether this is just a rebound in an ongoing decline or a rally to new highs remains to be seen. © S&P 500 Weekly chart
  3. 3.  Buy signal for German DAX and Australia AOI. S&P 500 is the only major index that stays in bearish trend.  Bonds TLT are back to fully bearish. Don’t touch with a 10 foot pole.  Gold is weak bullish. Sits only just above its RevL so is at risk of starting a bearish trend.  EURUSD is giving a Sell signal. This ends 52 weeks of bullish trend.  Oil is fully bullish and gradually adding to gains.  Wheat is fully bullish and has broken out above the 500 level. © Major indices
  4. 4.  Speculative Buy signal for China SSEC.  Sell signal for Argentina MERVAL.  Recent rebounds appear to pause or reverse.  Stock markets could stay in corrective patterns for several more months. If that’s the case then we will see rallies stall before new highs are reached. This remains a tricky environment. World markets ©
  5. 5.  Buy signal for AAPL and MCD.  Speculative Buy signal for MMM.  Sell signal for PFE.  16 stocks bullish, up from 15 last week. Above 20 = bull market. See article: Keeping an eye on the Dow stocks  Another small improvement, but more will be needed to declare a continuation of the bull market.  In a prolonged bear market the number of bullish stocks can drop to zero. When it climbs back above 20 we will have a strong indication that the correction or bear market is over. . 30 Dow Jones Industrials stocks ©
  6. 6.  Buy signal for ETHUSD and USDMXN.  Weak Buy signal for USDCAD. Possible fake-out move.  Sell signal for GBPUSD.  Partial profits signal for USDTRY. An 18% gain in 31 weeks.  Currencies tend to make long trending moves, so we don’t get weekly Buy or Sell signals very often.  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 weekly bullish trends and sell the rips during weekly bearish trends. Currencies ©
  7. 7.  On Twitter:  On Facebook: https://wwww.facebook/Reversallevels/  On Stocktwits:  Website: For daily comments and questions you can find us here: © 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. 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 2700 stocks and ETF are available by monthly subscription. For just $1 a day you can become a more efficient investor: click here 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.