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Major Market Swing Signal (End of Day) Tuesday 7-5-22

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The Major Indexes closed Mixed today the Dow Jones was Down, S&P 500 was Flat and the Nasdaq closed the strongest up 1.75%


The Major Indexes are now trading at or just above their 5 & 9day MA's on the daily charts, and just below the 21 Day MA which is still Negative Action. They have some key Support Levels to watch on the Weekly Charts also



The percentage of stocks in a Bullish Upswing in all categories has now turned to Slightly Bullish today


The percentage of Stocks in a Bullish Upswing for all Categories are


53% of the Dow Jones is on an Upswing


57% of the S&P 100 is on an Upswing


67% of the Nasdaq 100 is on an Upswing


62% of all Three Indexes Top Holdings is on an Upswing


The Rally Attempt, On all the Major Indexes NOW HAVE A 70% to 80% CHANCE OF FAILING. We have undercut the Low of the Follow-Through Day. This is very Negative Action


The Advance-Decline Diff Invisible Chart Indicators is somewhat Negative. The Green Line is above the Yellow Line and Red Line but the Green Line moved below the above Zero on the Dow Jones and the Nasdaq, the S&P 500 Green Line is above Zero but pointing Down. The Yellow and the Red are below Zero and flat


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 still looking for the Signal week this week. The Bollinger Band trading Strategy is now reset.


Economic Reports


In regards to Economic reports, Next Week is going to be a BIG WEEK of Economic News,


We have to LOOK OUT ON Wednesday we have The FED Meeting Minutes coming out at 2 pm this could be a Market Mover also Key Manufacturing Numbers coming out from 9:45 am to 10:00 am


This is a Big Day


Wednesday, July 6 2022 S&P Global Composite PMI (Jun) and Services PMI (Jun) @ 9:45 am


Wednesday, July 6 2022 ISM Non-Manufacturing PMI (Jun) @ 10:00 am (This could be a market mover)


Wednesday, July 6 2022 JOLTs Job Openings (May) @ 10:00 am (This could be a market mover)


Wednesday, July 6 2022 FOMC Meeting Minutes @ 2 pm (This could be a market mover)


Thursday, July 7 2022 ADP Nonfarm Employment Change (Jun) @ 8:15 am and Initial Jobless Claims at 8:30 am (This could be a market mover)


Thursday, July 7 2022 FOMC Member Bullard Speaks @ 1 pm


Friday, July 8, 2022, Nonfarm Payrolls (Jun) @ 8:00 am (This could be a market mover)


Friday, July 8, 2022, Unemployment Rate (Jun) @ 8:30 am (This could be a market mover)


The Bulls are starting to lose this fight. We are in a New Confirmed Rally but it is Under Pressure. Don't forget the Rally attempt now has a 70% to 80% chance of failing. Also, the overall trend is still Down and we are still in a Bear Market.


Thank You


BTA

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