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

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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


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