Outlook July 5

Markets continued to drop last week, and even the first days of Green period didn’t turn the tide.

As we mentioned last week, the path of least resistance is and stays down for the moment.
I am looking for an upward bounce this week or next, but I doubt it will be the start of a longer bull run.
Too many people have been surprised by this sudden fall in the markets, and are looking to take some money off the table as soon as they can get a reasonable price.
I think we will get one or two very strong up days this week or next, and they will be selling opportunities going into the next Red Period later this month.

Stay tuned.

By Dan

Author of LunaticTrader and Reversal Levels method. Stock market forecasts based on proprietary indicators, seasonal patterns and moon cycles.

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