More Related Content More from LunaticTrader (17) Reversal Levels Outlook for Week of April 15, 20241. Reversal Levels - Outlook for week of April 15, 2024
Number of S&P 500 stocks in bullish trends (blue line): 366 (73%) versus 398 last week.
Number of S&P 500 stocks in daily bullish mode (red line): 143 (29%) versus 277 last week.
Long term bullish but the number of stocks in bullish trends is going down. The daily bullish% (red
line) stays below the blue line and is now below 50%. Significant pullback is underway.
© Reversallevels.com
2. ELC: up | BMO: down | Blue snake: up | Repellor: up
Market dropped below the middle of the weekly Snake for the first time this year. Increasingly bearish
picture.
© Reversallevels.com
S&P 500 Weekly chart
3.
SwX turns yellow - neutral. Weekly MoM goes down from a very high +8 peak.
Rally may have peaked, as we pointed out in recent weeks already.
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S&P 500 - Weekly
4. SwX stays green - bullish. Weekly MoM goes up and enters the +8 peak zone.
Gold stays strong as expected and the rally could go much higher.
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Gold - Weekly
5. SwX is green - bullish. Weekly MoM is at the maximum +10.
Stays near its recent record levels. © Reversallevels.com
Bitcoin - Weekly
7.
Sell signal for AUDUSD and GBPUSD
Partial profits signal for USDTRY.
Note 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
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8.
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