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Major Market Swing Signal (End of Day) Friday 2-24-23

This content and any associated materials are for informational, educational, and entertainment purposes only and nothing should be construed as a recommendation or rating to buy, hold, or sell any securities. BTA is not a licensed Adviser and can not give financial advice. Please see our Disclaimer on the Website


The percentage of Stocks in a Bullish Upswing for all Categories are


20% of the Dow Jones is on an Upswing


18% of the S&P 100 is on an Upswing


24% of the Nasdaq 100 is on an Upswing


21% of all Three Indexes Top Holdings is on an Upswing


The Major Market Swing is still Very Bearish. When this starts to change be on the lookout for a possible bounce to the upside


The Market Breadth is still WEAK, If the breadth continues to stay WEAK the Major indexes may continue to sell off, but it is at levels where a bounce to the upside can occur


The Adv.-Decl, Issues Diff Green Line is still below Zero. This is showing weakness


The Important thing, for now, is that the Major Indexes all found support at the 50Day, 150-day, or 200-Day MA's. Which are long-term Key Moving Averages. This is where the market could bounce to the upside


We spoke about the possibility of the 150-Day MA and the 200-Day MA holding as Support. If the market can not break below these Key MA's then it's possible that we can see higher stock prices, But if Prices break Below and close below these Long-Term Moving Averages then lower prices can be coming


The bottom line is that if prices bounce off the long-term Key Moving Averages the 50Day, 150-day, or 200-Day MA's.

Then we will look at the downward Trending 5-Day, 9-Day, and 21-Day MA's as possible resistance. If Price gets rejected at these Moving Averages then we will look for a possible move back to the Long-Term MA's


Economic Reports



Monday, Feb. 27, 2023,


@ 8:30 am Core Durable Goods Orders (MoM) (Jan) (This could be a market mover)



@ 10:00 am Pending Home Sales (MoM) (Jan) (This could be a market mover)



Tuesday, Feb. 28, 20223,







Wednesday, March 1, 2023






@ 2:00 pm FOMC Meeting Minutes (This could be a market mover)



Thursday, March 2, 2023


@ 8:30 am Continuing Jobless Claims (This could be a market mover)


@ 8:30 am Initial Jobless Claims (This could be a market mover)


@ 8:30 am Jobless Claims 4-Week Avg (This could be a market mover)




@ 10:50 am FOMC Member Fed Waller (This could be a market mover)



Friday, March 3, 2023


@ 9:45 am S&P Global Composite PMI (This could be a market mover)


@ 9:45 am Services PMI (Feb) (This could be a market mover)


@ 10:00 am ISM Non-Manufacturing Employment (Feb) (This could be a market mover)



@ 10:00 am ISM Non-Manufacturing PMI (Feb) (This could be a market mover)







The Bulls and Bears are fighting for control right now, But the Major Market Indexes are at Key Levels on the Chart.


This can change quickly. Be Careful


Thank You

Rod

BTA

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