Search

Major Market Swing Signal (End of Day) Monday 5-9-22

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



26% of the Dow Jones is on an Upswing


28% of the S&P 100 is on an Upswing


13% of the Nasdaq 100 is on an Upswing


19% of all Three Indexes Top Holdings is on an Upswing


All of the Categories had a decrease in their bullish swing percentage. The major indexes are still selling off.


We are now getting to very bearish readings on the Bullish Swing percentage and the percentage of stocks below there 200 day moving averages is also starting to reach very low levels, levels that are only seen every few years. They are starting to reach levels to could produce a bounce in the market


Also on the weekly charts the indexes are starting to break and find support on their 100 Week and 200 Week moving averages. The Indexes only break these weekly moving averages every few years


We have to be on the look out for the market to bottom and go on a 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


The BEARS are in control for now


Thank You

BTA

8 views0 comments

Recent Posts

See All