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

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66% of the Dow Jones is on an Upswing


80% of the S&P 100 is on an Upswing


54% of the Nasdaq 100 is on an Upswing


66% of all Three Indexes Top Holdings is on an Upswing


Notice the change Wednesday from (5-4-22)


The Dow Jones Bullish Swing Percentage had a decrease of 21% the Swing changed to Bullish


The S&P 100 Bullish Swing Percentage had a decrease of 14% the Swing is still Very Bullish


The Nasdaq 100 Bullish Swing Percentage had a decrease of 24% the Swing changed to Bullish


All the Top Holdings Bullish Swing Percentage had decrease of 6% the Swing changed to Bullish


All of the Categories had a decrease in their bullish swing percentage. The major indexes had one of the worst days since 2020. All the major indexes fell HUGE today, but


The internal that we watch is showing only a small decrease, they didn't really fall apart. We would have expected those internal breadth indicators to have collapsed after such a hard down day but they didn't. May be that's a sign that the market didn't really have as much damage as it seemed


The huge collapse in the Market today could find some support and cause a relief rally then become a tradable rally going forward or it could be a start of a move lower and break completely through the Feb and March 2022 lows. We just cant tell now the only thing we could do is follow the indicators and look for the swing to turn into a trend


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


The BEARS look like they want to keep control for a little while and the Bulls look like they wanted to take over, let's see how the next few days look at the close.


Thank You

BTA

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