Major Market Swing Signal (End of Day) Tuesday 6-21-22
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The Major Indexes finished strong today up over 2%. The Major Indexes are still trading at or below all the Key Moving Averages on the Daily and Weekly Charts
All the Major Indexes now have a New First Day Rally Attempt and the count for a Follow-Through has now started.
The percentage of stocks in a Bullish Upswing is very Low in all the Categories but they have improved. The Stocks in a Bullish Upswing for all Categories are at or below 50%
The Advance-Decline Diff Invisible Chart Indicators are deep into negative territory and telling us to be in cash and move to the sidelines
The Weekly Bollinger Band, Stochastic, RSI, and MACD Strategy has now completed the Set-Up week on all the Major Index ETFs (DIA, SPY, QQQ, IWM, and ITOT). We are now looking for the Signal week this week. The Bollinger Band trading Strategy is now reset.
In regards to Economic reports. This week will be a big week for Housing Stocks on Friday important numbers come out that could cause more pressure on housing stocks.
Can Fed Chair Powell calm the Market down and reduce the Fear when he Testifies on Wednesday? He could cause a Pop or Drop. Lol (watch the charts)
Wednesday, June 22, 2022, Fed Chair Powell Testifies @ 9:30 am
Thursday, June 23, 2022, Initial Jobless Claims @ 8:30 am
Friday, June 24, 2022, New Home Sales (May)
The BEARS are FIRMLY in control now. The Bear Market is now back in place