Major Market Swing Signal (End of Day) Friday 4-29-22

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30% of the Dow Jones is on an Upswing

27% of the S&P 100 is on an Upswing

39% of the Nasdaq 100 is on an Upswing

38% of all Three Indexes Top Holdings is on an Upswing

Notice the change from Thursday (4-28-22)

The Dow Jones Bullish Swing Percentage decreased a by 10% the Swing is still Bearish

The S&P 100 Bullish Swing Percentage decreased by 12% changing the Swing to Very Bearish

The Nasdaq 100 Bullish Swing Percentage decreased a by 14% changing the Swing to Bearish

All the Top Holdings Bullish Swing Percentage Decreased by 8% the Swing is still Bearish

Notice that all three of the categories decreased slightly as the Stock Market moved lower on some mixed earnings results from the Big FAANG companies

The Market is in the heart of earnings season now and over 1,500 companies are scheduled to report earnings this week, also the Federal Reserve is going to make a decision on raising interest rates Wednesday. This week is going to probably have a lot of big price moves up and down, so be careful

The Indexes are now inside of or just below key support levels on the daily and weekly charts. It is possible that they find support at these levels

The market is still in CORRECTION and we have to wait for a Follow-Through Day to give us the green light

This is a dangerous time to trade, and keeping more cash on the side may not be a bad idea until we get the Follow-Through Day

The BEARS are still in control for now

Thank You

BTA