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Major Market Swing Signal (End of Day) Thursday 5-19-22

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All the Categories are now back at Very Bearish readings and they are at very low levels. The Percentage of stocks under the hood in a bullish Swing for the Dow Jones 30 is only 20%, The S&P500 is 27%, The Nasdaq 100 is 28%, and All Three Index Top Holding is at 27%


Today the market continued to trade down but the selling was not as strong as yesterday. The market attempted several times to rally but could not stay positive


The Nasdaq was the Index that gave us the Follow Through Day and even though we did get a follow day undercut we have to remember the rally is not done yet. Until we close below the low of the first-day rally attempt it's still on. There is a 90% chance of failing and the market conditions will change back to a market under pressure or possibly a market in correction


All of the Categories are now Very Bearish and the FOLLOW THROUGH DAY chances of succeeding are slim only 10%.


We have to always remember that not all follow through days are going to succeed some will fail, but no Bull Market has ever started without a follow-through day


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, and VTI). We are now waiting for the Signal Week to complete


It is possible that the Market could find a bottom and bounce soon we are at extremes on all our key breadth indicators. The Past 25 Years have shown us it won't stay at these levels long. Also, the Major Market swing Signal is now back at extremely low levels


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.


We can only look at the charts and history as our guide. Our Breadth indicators and the Weekly VIX Spike History will tell us which way this market will go


It is important to watch the videos from our meetings on Monday and Thursday this week. I explained clearly the breadth indicators to watch and how the Weekly VIX Spike History works. Also, we went over the Weekly Bollinger Band Strategy


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


The BULLS are now trying to take control but it doesn't look good right now


Thank You


BTA

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