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Major Market Swing Signal (End of Day) Monday 5-16-22

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53% of the Dow Jones is on an Upswing


56% of the S&P 100 is on an Upswing


74% of the Nasdaq 100 is on an Upswing


67% of all Three Indexes Top Holdings is on an Upswing


All of the Categories are now bullish but we have to see if the stocks under the hood can hold their upswing and continue to move higher. The Indexes are testing key resistance and support levels on the Weekly Charts. We have to wait and see how the Market reacts from these levels


The major indexes are still selling off and our indicators have not given us the all-clear to start buying yet


The Market Breadth is still at extremely low levels. They are at levels that could produce a bounce in the market. The bounce could just be temporary or it could lead to something more


We have to be on the lookout for the market to bottom and move upward, even if it's just a relief rally and not the start of a new bull run. The charts will tell us


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


All the Major Indexes are still holding their rally attempts and a Follow Through Day could come this week


The BEARS are still in control for now


Thank You

BTA

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