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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

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