Major Market Swing Signal (End of Day) Tuesday 5-3-22

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26% of the Dow Jones is on an Upswing

27% of the S&P 100 is on an Upswing

32% of the Nasdaq 100 is on an Upswing

29% of all Three Indexes Top Holdings is on an Upswing

Notice the change from Monday (5-2-22)

The Dow Jones Bullish Swing Percentage increased a by 3% Swing remains Very Bearish

The S&P 100 Bullish Swing Percentage increased a by 8% Swing remains Very Bearish

The Nasdaq 100 Bullish Swing Percentage decreased a by 1% Swing remains Bearish

All the Top Holdings Bullish Swing Percentage increased a by 3% Swing remains Very Bearish

The Federal Reserve is meeting tomorrow and will make a decision at 2 pm est on interest rates and monetary policy going forward this will be a big mover for stocks. They could go up or down, this could be a good time to sit on the side until the announcement. Then see how the market reacts.

If the Fed is more aggressive than expected it could scare the markets and cause a downturn but,

Back in March when the Fed had its last meeting and hiked rates. Chairman Powell calmed the markets during his speech and we got a Follow Through Day. The market went on a 10% run-up in just a few weeks, could the fed cause this again is the question we have to be ready to move if they do

The Indexes are trying to bounce off of key support levels on the daily and weekly charts. It is possible that they find support at these levels and rally after the Fed meeting

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

This is a dangerous time to trade, and keeping more cash on the side may not be a bad idea until we get the Follow-Through Day

The BEARS are still in control for now but the bulls are trying to fight back

Thank You

BTA