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Major Market Swing Signal (End of Day) Thursday 4-28-22

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40% of the Dow Jones is on an Upswing


39% of the S&P 100 is on an Upswing


53% of the Nasdaq 100 is on an Upswing


46% of all Three Indexes Top Holdings is on an Upswing


Notice the change from Wednesday (4-27-22)


The Dow Bullish Swing Percentage increased a lot by 34% changing the Swing to Bearish


The S&P 100 Bullish Swing Percentage increased a lot by 31% changing the Swing to Bearish


The Nasdaq 100 Bullish Swing Percentage increased a lot by 45% changing the Swing to Bullish


All the Top Holdings Bullish Swing Percentage increased a lot by 39% changing the Swing to Bearish


Notice that all three of the categories increased a lot on the back of some good earnings reports by the large/Mega Cap stocks.


The Market is in the heart of earnings season now and most of the BIG FAANG-MT stocks have to report this week, They are coming out with mixed earnings results but it is looking like they may be good enough to keep the market from totally falling apart


The Indexes are now bouncing off of key support levels on the daily and weekly charts. It is possible that they find support at these levels


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


This is a dangerous time to trade, and keeping more cash on the side may not be a bad idea until we get the Follow-Through Day


The BEARS are still in control but the Bulls are fighting back


Thank You

BTA

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