Major Market Swing Signal (End of Day) Friday 6-24-22
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All the Major Indexes closed up huge today, over 3%. The Major Indexes are now trading above and closed above their 5 and 9-period MA's on the daily charts, which is positive. They have some key levels to watch on the Weekly Charts
The percentage of stocks in a Bullish Upswing is extremly Bullish in all categories now. The percentage of Stocks in a Bullish Upswing for all Categories are
93% of the Dow Jones is on an Upswing
94% of the S&P 100 is on an Upswing
97% of the Nasdaq 100 is on an Upswing
95% of all Three Indexes Top Holdings is on an Upswing
All the Major Indexes now have a Follow-Through Day. This gives us the Green Light to buy Leading Stocks in Leading Industry Groups Breaking out of Sound Base Patterns
The Nasdaq had anunverified Follow-Through day Yesterday. The Nasdaq closed up for the day with a large enough Percentage gain to qualify for a Follow-Through Day, but the Volume was Mixed giving us an unverified signal.The Volume was Lower than the previous day on the Marketsmith Platform, but on our Trading Platforms the Volume was slightly higher than the previous day).
We got an additional Follow-Through Day today on the Nasdaq now verifying yesterday's Follow Through Day.
Also, we got a New Follow Through Day today in the Dow Jones, S&P 500 and IWM
The Advance-Decline Diff Invisible Chart Indicators are in Positive territory today. The Green Line is above the Yellow Line and Red Line also the Green Line is above Zero. This is very Positive confirming our Follow Through Day
The Weekly Bollinger Band, Stochastic, RSI, and MACD Strategy has now completed the Set-Up week on all the Major Index ETFs (DIA, SPY, QQQ, IWM, and ITOT). We are now looking for the Signal week this week. The Bollinger Band trading Strategy is now reset.
In regards to Economic reports Next week we have to keep an eye on the GDP numbers that are coming out on Wednesday @ 8:30 am