Mar 1, 20233 min read

Major Market Swing Signal (End of Day) Tuesday 2-28-23

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 percentage of Stocks in a Bullish Upswing for all Categories are

16% of the Dow Jones is on an Upswing

23% of the S&P 100 is on an Upswing

34% of the Nasdaq 100 is on an Upswing

26% of all Three Indexes Top Holdings is on an Upswing

The Major Market Swing is still Very Bearish. The market is starting to look like it's under pressure

The Market Breadth is still WEAK, If the breadth continues to stay WEAK the Major indexes may continue to sell off, but it is at levels where a bounce to the upside can occur

The Important thing, for now, is that the Major Indexes all found support at either the 50Day, 150-day, or 200-Day MA's. Which are long-term Key Moving Averages. This is where the market could bounce to the upside

If the market can not break below and close below these Key MA's then it's possible that we can see higher stock prices, But if Prices break Below and close below these Long-Term Moving Averages then lower prices can be coming

The bottom line is that if prices bounce off the long-term Key Moving Averages the 50Day, 150-day, or 200-Day MA's. Then we will look at the downward Trending shorter-term 5-Day, 9-Day, and 21-Day MA's as possible resistance.

If the Price gets rejected at these shorter-term Moving Averages then we will look for a possible move back to the Long-Term Moving Averages

There is no guarantee that the Market will sell off and we will have a profitable short trade but this is definitely not the time that we would want to be Long Stock. The Price is below the Downward Trending 5, 9, and 21-Day MA's.

Economic Reports

Wednesday, March 1, 2023

@ 9:45 am Manufacturing PMI (Feb)

@ 10:00 am ISM Manufacturing Employment (Feb)

@ 10:00 am ISM Manufacturing PMI (Feb)

@ 10:00 am ISM Manufacturing New Orders Index (Feb)

@ 2:00 pm FOMC Meeting Minutes (This could be a market mover)

Thursday, March 2, 2023

@ 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 Nonfarm Productivity (QoQ) (Q4)