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Major Market Swing Signal (End of Day) Wednesday 4-27-22

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6% of the Dow Jones is on an Upswing


8% of the S&P 100 is on an Upswing


10% of the Nasdaq 100 is on an Upswing


7% of all Three Indexes Top Holdings is on an Upswing


Notice the change from Tuesday (4-26-22)


The Dow Bullish Swing Percentage increased slightly by 3% the Swing remains Very Bearish


The S&P 100 Bullish Swing Percentage increased slightly by 6% the Swing remains Very Bearish


The Nasdaq 100 Bullish Swing Percentage increased slightly by 8% the Swing remains Very Bearish


All the Top Holdings Bullish Swing Percentage increased slightly by 5% the Swing remains Very Bearish


Notice that all three of the categories increased slightly. The Bullish Swing Percentage is still in the low single-digit. This is an extremely weak market


The Market is in the heart of earnings season now and the BIG FAANG-MT stocks are starting to report this week, They are coming out with mixed earnings results but it is looking like they may be good enough to keep the market from totally falling apart


The Indexes are now testing and starting to break key support levels on the weekly chart. It is possible that they find support at these levels, but if they don't bounce look out below


The market is now back into 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 firmly in control now


Thank You


BTA

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