Outlook for Week of July 9, 2018

Reversal Levels - Outlook for week of July 9, 2018
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Number of S&P 500 stocks in bullish trends (blue line): 294 (59%) versus 281 last week.
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Number of S&P 500 stocks in daily bullish mode (red line): 261 (52%) versus 196 last week.
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Situation is bullish and the number of stocks in bullish trends has turned up again. The red line is back
above 50%, but stays below the blue line. A continuation of the rally will be likely when the red line
gets above the blue line.
© Reversallevels.com


ELC: flat and slightly downward. BMO: down. Blue snake: up.

Mixed messages with ELC flat while BMO is down. This is a tricky situation and may indicate a
double top in place. I would stay very cautious until BMO turns back up.
S&P 500 Weekly chart


Sell signal for Nikkei. Partial profits signal for Australia AOI. Most major
stock indexes keep hesitating.

Bonds TLT are in a young bullish trend.

Gold is in a bearish trend with no signs of bottom. Wait.

EURUSD is weak bearish. May go for a test of its weekly RevL,
currently at 1.2015.

Oil is fully bullish. A nice 48% gainer in 49 weeks with possibly more to
come.

Wheat stays weak bullish. If MoM turns back up it will be a nice bullish
continuation.
Major indices


Sell signal for Taiwan TAIEX.

Bullish divergence for Switzerland SMI.

Bearish divergence for Israel TA100.

The picture for world markets remains very
mixed, but most markets have downward
MoM. It looks like the correction or bear
market is set to continue in a number of
countries.
World markets


Buy signal for PG.

Bullish divergence for IBM.

Bearish divergence for DWDP and XOM.

Partial profit signal for NKE. A 37% gain in 36
weeks.

19 stocks bullish, up from 18 last week. Below
20 = weak bull market. See article:
Keeping an eye on the Dow stocks

Market keeps giving mixed signals. If the
number of bullish stocks falls back below 15
bullish stocks it would tells us to turn more
bearish.
.
30 Dow Jones Industrials stocks


Sell signal for USDMXN.

Partial profits signal for USDBRL. A 17.2% gain in 21 weeks.

Partial profits signal for USDINR. A 6.4% gain in 19 weeks.

Partial profits signal for USDTRY. A 28.1% gain in 40 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


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
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
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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.
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.
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Outlook for Week of July 9, 2018

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Outlook for Week of July 9, 2018