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Major Market Swing Signal (End of Day) Monday 5-23-22

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Three of the above categories have now turned bullish but they are only on the 1st day of their bullish upswing and the percentage of stock in the upswing is in the low fifthies. We have to see more stocks under the hood showing a bullish upswing


Today the Market had a good upward move. All the Major Market Indexes closed up over 1%, But this is just one day we have to see more.


This is the 2nd Day rally attempt for the Dow, S&P 500, and the 1st Day rally attempt for the Nasdaq. We can now start the count for a new follow-through day


We Have to wait for a Follow -Through Day for the Green Light


We believe that there is going to be a GREAT BUYING OPPORTUNITY SOON after the Bear Market and possible Recession is complete


The Weekly Bollinger Band, Stochastic, RSI, and MACD Strategy has now completed the Set-Up part of the strategy on all the Major Indexes ETFs (DIA, SPY, QQQ, IWM, VTI, and ITOT). We are now waiting for the Signal Week to complete

We are still at extremes on all our key breadth indicators. Also, our BEST Breadth indicator for finding bottoms is showing strange signs of improvement


We think that the Indexes are at a critical point now it will either bounce soon and rally off the bottom or start another leg down in this Bear Market.


It is important to watch the video from Monday's Meeting We explained the complete Bollinger Band - RSI - Stochastic and MACD Strategy


Look out for Costco Wholesale Corp (COST), Nvidia Corp (NVDA), and Dollar General (DG) Earnings Reports this week they could have a big effect on the direction of prices. Nvidia reports on 5-25 after the market closes. Costco and Dollar General reports on 5-26 after the market closes


Also, look for the New Home Sales report on Tuesday @10am and Fed Chair Powell speaking at 12;20 pm on Tuesday. These economic events can really move the market hard up or down depending on what is said


Sorry for the delay but I will post BTA Stock Watchlist soon, I will be posting some charts of the Market Breadth


The BEARS are in control for now and the Market is still in CORRECTION.


Thank You

BTA


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