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Major Market Swing Signal (End of Day) Tuesday 5-12-22

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13% of the Dow Jones is on an Upswing


14% of the S&P 100 is on an Upswing


12% of the Nasdaq 100 is on an Upswing


13% of all Three Indexes Top Holdings is on an Upswing


The major indexes are still selling off and the Major Market Swing Signal is still selling off and all the above categories are now at extremely low levels


The Market Breadth has reached extremely low levels. They are at levels that could produce a bounce in the market. The bounce could just be temporary or it could lead to something more


NOW only 14% of the USA market is above its 200 Day Moving Average and only 12% of the Nasdaq is above its 200 Day Moving Average. The Breadth has only been lower than this twice in the last 10 years


Also on the weekly charts, the indexes are below their 100 Week and approaching their 200 Week moving averages.


The Indexes only break these weekly moving averages every few years, and they don't normally stay below them long (a few weeks at most) before bouncing and going back up


We have to be on the lookout for the market to bottom and move upward, even if it's just a relief rally and not the start of a new bull run. The charts will tell us


In yesterday's Webex meeting I explained WHY BTA THINK MARKET IS BOTTOMING and explained the setup to look for. The video will be on the website today and I will be doing follow-up videos next week. THIS IS A MUST WATCH


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


The BEARS are in control for now


Thank You

BTA


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