Major Market Swing Signal (End of Day) Thursday 7-7-22

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 Major Indexes closed up today, The Dow Jones, S&P 500, and Nasdaq closed up over 1% today

The Major Indexes are now trading at or just above their 5, 9day, and 21 Day MA's on the daily charts and approaching the 50-Day MA. The 50-Day MA could act as strong overhead resistance.

The Indexes have some key Support and Resistance Levels to watch on the Weekly Charts also keep a close eye on the 8 & 13 Week Moving Averages

The percentage of Stocks in a Bullish Upswing for all Categories are

86% of the Dow Jones is on an Upswing

82% of the S&P 100 is on an Upswing

89% of the Nasdaq 100 is on an Upswing

75% of all Three Indexes Top Holdings is on an Upswing

The Rally Attempt, On all the Major Indexes NOW HAVE A 70% to 80% CHANCE OF FAILING. We have undercut the Low of the Follow-Through Day. This is very Negative Action

The Advance-Decline Diff Invisible Chart Indicators is somewhat Negative. The Green Line is above the Yellow Line and Red Line but the Green Line is moving above and below the above Zero on the Dow Jones and S&P 500. It is not staying on one side for long

I find the Nasdaq Diff. chart interesting because it's the strongest Index right now with the weakest-looking Diff. Chart.

The Weekly Bollinger Band, Stochastic, RSI, and MACD Strategy has now completed the Set-Up week on all the Major Index ETFs (DIA, SPY, QQQ, IWM, and ITOT). We still looking for the Signal week this week. The Bollinger Band trading Strategy is now reset.

Economic Reports

Friday, July 8, 2022, Nonfarm Payrolls (Jun) @ 8:00 am (This could be a market mover)

Friday, July 8, 2022, Unemployment Rate (Jun) @ 8:30 am (This could be a market mover)

The Bulls are fighting. We are in a New Confirmed Rally but it is Under Pressure.

Don't forget the Rally attempt now has a 70% to 80% chance of failing. Also, the overall trend is still Down and we are still in a Bear Market.

Thank You

BTA