top of page

Major Market Swing Signal (End of Day) Tuesday 6-28-22

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

All the Major Indexes closed Down huge today, over 2%. The Major Indexes are now trading Below and closed back Below their 21-day, 9-day, and 5-day MA's on the daily charts, which is Negative Action. They have some key levels to watch on the Weekly Charts also The percentage of stocks in a Bullish Upswing in all categories has now turned Bearish again. The percentage of Stocks in a Bullish Upswing for all Categories are 33% of the Dow Jones is on an Upswing 49% of the S&P 100 is on an Upswing 29% of the Nasdaq 100 is on an Upswing 38% of all Three Indexes Top Holdings is on an Upswing

All the Major Indexes now have a Follow-Through Day. This gives us the Green Light to buy Leading Stocks in Leading Industry Groups Breaking out of Sound Base Patterns, but we must be careful buying stock right now because this is very negative action after a Follow-Through Day The Advance-Decline Diff Invisible Chart Indicators is Positive. The Green Line is above the Yellow Line and Red Line also the Green Line is above Zero, but the Yellow and the Red are below Zero. 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, we have to keep an eye on the GDP numbers that are coming out on Wednesday @ 8:30 am

Wednesday, June 29th GDP (QoQ) (Q1) final estimate @ 8:30 am This could cause prices to trade down if comes in worst than expected Thursday, June 30th Initial Jobless Claims @ 8:30 am Friday, July 1, 2022, ISM Manufacturing PMI (Jun) @ 10:00 am (this will be a gauge of inflation). This can cause prices to trade down if comes in much worst than expected The Bulls are fighting for control now. We are in a New Confirmed Rally., But don't forget that the overall trend is still Down and we are still in a Bear Market. Thank You BTA

8 views0 comments


bottom of page