Search

Major Market Swing Signal (End of Day) Friday 7-8-22

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 Major Indexes closed basically flat today (unchanged) The Dow Jones was down 0.15%, S&P 500 down 0.08%, and Nasdaq closed up 0.12%


The Major Indexes are now trading above their 5, 9day, and 21 Day MA's on the daily charts and approaching the 50-Day MA. The 50-Day MA could act as strong overhead resistance.


The Indexes have some key Support and Resistance Levels to watch on the Weekly Charts also keep a close eye on the 8, 10 & 13 Week Moving Averages


This Rally is moving up on Low Volume this is a form of weakness. The Rally is WEAK we don't think it will last


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


86% of the Dow Jones is on an Upswing


80% of the S&P 100 is on an Upswing


88% of the Nasdaq 100 is on an Upswing


84% of all Three Indexes Top Holdings is on an Upswing


The Rally Attempt, On all the Major Indexes NOW HAVE A 70% to 80% CHANCE OF FAILING. We have undercut the Low of the Follow-Through Day. This is very Negative Action


The Advance-Decline Diff Invisible Chart Indicators is somewhat Negative. The Green Line is above the Yellow Line and Red Line but the Green Line is moving above and below the above Zero on the Dow Jones, S&P 500 and Nasdaq. It is not staying on one side for long, right now it's below the Zero line on all the Indexes


I find the Nasdaq Diff. chart interesting because the Nasdaq strongest Index right now with a weak-looking Diff. Chart.


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). The Signal Week is now complete, But we are not buying on the Pivot


Please look at the Weekly Bollinger Band Update on our Youtube Channel we explain the reason we are not buying


Economic Reports


A Lot of Inflation Numbers are coming out


Wednesday, July 13, 2022, Core CPI (YoY) (Jun) also Core CPI (MoM) (Jun) @ 8:30 am (This could be a market mover)


Wednesday, July 13, 2022, Beige Book @ 2:00 pm (This could be a market mover) (The Federal Reserve's Beige Book is a report on current economic conditions in each of the 12 Federal districts in the U.S.)


Thursday, July 14, 2022, Core PPI (MoM) (Jun) and Core PPI (YoY) (Jun) also PPI (MoM) (Jun) @ 8:30 am (This could be a market mover)


Thursday, July 14, 2022, Initial Jobless Claims @ 8:30 am (This could be a market mover)



Friday, July 15, 2022, Core Retail Sales (MoM) (Jun) and Retail Sales (MoM) (Jun) @ 8:30 am (This could be a market mover)


Friday, July 15, 2022, Michigan Consumer Sentiment (Jul) @ 10:00 am (This could be a market mover)


Friday, July 15, 2022, CFTC Gold speculative net positions, CFTC Nasdaq 100 speculative net positions and CFTC S&P 500 speculative net positions @ 15:30 am



The Bulls are fighting. We are in a New Confirmed Rally but it is Under Pressure.


Don't forget the Rally attempt now has a 70% to 80% chance of failing. Also, the overall trend is still Down and we are still in a Bear Market.


Thank You

BTA

14 views0 comments