Free weekly newsletter with outlook and brief comments for world stock markets. Weekly reversal levels for stocks, gold, crypto currencies and forex. Try our method, which was designed to keep us on the right side of the market most of the time, letting the winners run while keeping losses small.

1. Reversal Levels - Outlook for week of May 6, 2024
 Number of S&P 500 stocks in bullish trends (blue line): 322 (64%) versus 320 last week.
 Number of S&P 500 stocks in daily bullish mode (red line): 222 (44%) versus 220 last week.

Long term bullish and the number of stocks in bullish trends is going back up a bit. The daily bullish%
(red line) stays below the blue line. Too early to declare this pullback over.
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2.  ELC: down | BMO: down | Blue snake: down | Repellor: up
 ELC goes down with a wide bearish divergence. Until ELC turns back up this is a dangerous setup.
BMO is testing the zero line, which also marks an important juncture.
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S&P 500 Weekly chart

3. 
SwX is yellow - neutral. Weekly MoM goes down from its recent high +8 peak.
 The 5000 level survived another test, but the market is not out of the woods yet.
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S&P 500 - Weekly

4.  SwX stays green - bullish. Weekly MoM turns down in the +8 peak zone.
 Gold is pausing after testing the $2400 level.
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Gold - Weekly

5.  SwX is yellow -neutral. Weekly MoM goes down.
 Consolidating near its recent record levels. $60k level is an important support to hold. © Reversallevels.com
Bitcoin - Weekly

6. 
Weak Buy signal for South Korea KOSPI.
World markets
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7. 
Buy signal for AUDUSD.

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. 
Twitter: https://twitter.com/lunatictrader1

Stocktwits: https://stocktwits.com/LunaticTrader

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 Blog 2: LunaticTrader.com
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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.
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Simulated trading programs in general 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.
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