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Major Market Swing Signal (End of Day) Tuesday 1-17-23

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


53% of the Dow Jones is on an Upswing


62% of the S&P 100 is on an Upswing


75% of the Nasdaq 100 is on an Upswing


69% of all Three Indexes Top Holdings is on an Upswing


The Major Indexes were Mixed on Tuesday. The S&P 500 was down slightly (.20%), The Nasdaq was up slightly .14% and the Dow Jones was down the most down 1.14%


The Chart Structure is really the same. Nothing has changed that much


The Dow Jones closed below the 5-Day MA but is still above the other Key MA's.

The S&P 500 is above all its short-term MA's Key and is still holding above the 200 Day


The Nasdaq is above its short-term MA's but still well below the 150 and 200 Day Ma.


It's still the same All Three of the Major Indexes testing resistance at the long-term downward trending trendlines on the Weekly Charts. These trend lines have been in place for the whole year of 2022.


Each time the Indexes tried to break above the trendline it has gotten rejected. The indexes got rejected at this long-term downward trending trendline THREE times in 2022.


The market is now testing the trendline again for the 4th time. The question is will it find resistance again and get rejected or will it finally break through and close above


Keep a close eye on the VIX. The VIX is at an extremely low level now, whenever the VIX traded below 20 last year (2022) the Market TOPPED OUT SHORTLY AFTER. The VIX is at around 19.36 now


Earnings have now kicked off. Be careful of companies that are scheduled to report earnings it can cause the stock to DROP hard


Economic Reports



THIS IS A PACKED WEEK OF ECONOMIC DATA AND FED. MEMBER SPEAKERS BE READY FOR SOME WILD PRICE SWINGS FROM DAY TO DAY


Wednesday, Jan. 18, 2023


@ 8:30 am Core PPI (MoM) (Dec) (This could be a market mover)


@ 8:30 am PPI (MoM) (Dec) (This could be a market mover)


@ 8:30 am Core Retail Sales (MoM) (Dec)


@ 8:30 am Core Retail Sales (MoM) (Dec) (This could be a market mover)


@ 8:30 am Retail Sales (MoM) (Dec) (This could be a market mover)


@ 9:15 am Industrial Production (YoY) (Dec) (This could be a market mover)


@ 9:15 am Industrial Production (MoM) (Dec) (This could be a market mover)


@ 10:00 am Business Inventories (MoM) (Nov) (This could be a market mover)


@ 10:00 am Retail Inventories Ex Auto (Nov) (This could be a market mover)


@ 14:00 pm Beige Book (The Federal Reserve's Beige Book is a report on current economic conditions in each of the 12 Federal districts in the U.S.)


@ 14:00 pm FOMC Member Harker Speaks (This could be a market mover)


Thursday, July 14, 2023


@ 8:30 am Building Permits (Dec) (This could be a market mover)


@ 8:30 am Building Permits (MoM) (Dec)


@ 8:30 am Housing Starts (MoM) (Dec)


@ 8:30 am Housing Starts (Dec)


@ 8:30 am Continuing Jobless Claims (This could be a market mover)


@ 8:30 am Initial Jobless Claims (This could be a market mover)


@ 8:30 am Jobless Claims 4-Week Avg (This could be a market mover)


@ 8:30 am Philadelphia Fed Manufacturing Index (Jan) (This could be a market mover)


@ 8:30 am Philly Fed Employment (Jan)


@ 11:00 am Crude Oil Inventories


@ 1:15 pm Fed Vice Chair Brainard Speaks (This could be a market mover)


@ 5:30 pm FOMC Member Williams Speaks (This could be a market mover)


Friday, July 15, 2023,


@ 9:00 am FOMC Member Harker Speaks (This could be a market mover)


@ 10:00 am Existing Home Sales (MoM) (Dec)


@ 10:00 am Existing Home Sales (Dec) (This could be a market mover)


@ 3:30 pm CFTC Nasdaq 100 speculative net positions (This could be a market mover)


@ 3:30 pm CFTC S&P 500 speculative net positions (This could be a market mover)


The Bulls are fighting and the market is in a New Confirmed Uptrend, Market Breadth is Strong but it's starting to get near extremes (the market can top out at these levels), Volume is coming into the market slowly.


We are in earnings season so we must be careful


Thank You

Rod

BTA


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