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Major Market Swing Signal (End of Day) Tuesday 6-7-22

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The Major Indexes moved up today after finding support at key Moving Averages and support Levels. The indexes are trading between a downward trending 50 Day MA and a flat 21 Day MA. This is a sign of indecision.


The Indexes are still trading within an 8-day sideways consolidation phase. The Market will have to make a move above Resistance or Below Support soon


Volume does not seem to be coming into the market much. This is a sign that the Big Investors are not buying. Prices moving up on low volume is a sign of weakness


The percentage of stocks in a Bullish Upswing is fluctuating as the Market moves sideways


63% of the Dow Jones is on an Upswing


66% of the S&P 100 is on an Upswing


70% of the Nasdaq 100 is on an Upswing


69% of all Three Indexes Top Holdings is on an Upswing


The Advance-Decline Diff Invisible Chart Indicators are not giving their strongest signals the Red line is flat. This is negative for the strength of the Rally.



Remember with the recent Distribution, we got on the S&P 500 The rally has a 50% chance of failure. Let's see if it can hold on


The Weekly Bollinger Band, Stochastic, RSI, and MACD Strategy HIT the Pivot today on all the Major Index ETFs (DIA, SPY, QQQ, IWM, and ITOT), But we didn't buy because of overhead resistance and Low Volume


See the Youtube videos uploaded on our channel


On the Economic reports, we have a light week, not much Economic news is coming out until Thursday 6-9-22 Initial Jobless Claims, and Friday 6-10-22 Core CPI (this will give us a read on Inflation)


The BULLS are in control for now but they are losing some ground to the Bears


Thank You

BTA

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