top of page
Search

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






@ 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)




@ 10:50 am FOMC Member Fed Waller (This could be a market mover)


Friday, March 3, 2023


@ 9:45 am S&P Global Composite PMI (This could be a market mover)


@ 9:45 am Services PMI (Feb) (This could be a market mover)


@ 10:00 am ISM Non-Manufacturing Employment (Feb) (This could be a market mover)



@ 10:00 am ISM Non-Manufacturing PMI (Feb) (This could be a market mover)






The Bulls and Bears are fighting for control right now, But the Major Market Indexes are at Key Levels on the Chart.


This can change quickly.


Be Careful


Thank You Rod BTA


6 views0 comments

Recent Posts

See All
bottom of page