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Major Market Swing Signal (End of Day) Thursday 2-23-23

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 percentage of Stocks in a Bullish Upswing for all Categories are


20% of the Dow Jones is on an Upswing


14% of the S&P 100 is on an Upswing


26% of the Nasdaq 100 is on an Upswing


20% of all Three Indexes Top Holdings is on an Upswing


The Major Indexes closed up slightly on Thursday but that doesn't mean anything really it's just one day in a weak-looking market


The Major Market Swing is still Very Bearish. When this starts to change we must focus and be on the lookout for a possible bounce to the upside


The Market Breadth is still WEAK, If the breadth continues to stay WEAK the Major indexes may continue to sell off, but it is at levels where a bounce to the upside can occur


The Adv.-Decl, Issues Diff Green Line is still below Zero but flat near the Zero Line. This is showing weakness in the market because it is still below Zero but not a lot



The Important thing, for now, is that the Major Indexes all found support at the 50Day, 150-day, or 200-Day MA's. Which are long-term Key Moving Averages. This is where the market could bounce to the upside


We spoke about the possibility of the 150-Day MA and the 200-Day MA holding as Support. If the market can not break below these Key MA's then it's possible that we can see higher stock prices, But if Prices break Below and close below these Long-Term Moving Averages then lower prices can be coming


Look at the Charts from Wednesday's Moring Note 2-22-23, nothing has really changed yet all the Levels from Wednesday's morning note still apply


Economic Reports


Friday Is the PCE this is the Fed's Main Gauge of Inflation. If PCE comes out High the market could take a HARD FALL


Watch out for what the Fed members may say Friday Morning


Things can change quickly this week. Be Careful



Friday, February 24, 2023


@ 8:30 am Core PCE Price Index (MoM) (Jan) (This could be a market mover)


@ 8:30 am Core PCE Price Index (YoY) (Jan) (This could be a market mover)


@ 8:30 am PCE price index (MoM) (Jan) (This could be a market mover)


@ 8:30 am PCE Price index (YoY) (Jan) (This could be a market mover)






@ 10:00 am Michigan Consumer Expectations (Feb) (This could be a market mover)


@ 10:00 am Michigan Consumer Sentiment (Feb) (This could be a market mover)





@ 10:15 pm FOMC Member Mester Speaks (This will be a market mover)




The Bulls and Bears are fighting for control right now, But the Major Market Indexes are at Key Levels on the Chart.


This can change quickly. Be Careful


Thank You

Rod

BTA






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