Major Market Swing Signal (End of Day) Wednesday 6-29-22

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The Major Indexes closed basically flat today. The indexes were only up or down 0.2% at most. 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 Support Levels to watch on the Weekly Charts also

The percentage of stocks in a Bullish Upswing in all categories has now turned Very Bearish again.

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

20% of the Dow Jones is on an Upswing

25% of the S&P 100 is on an Upswing

20% of the Nasdaq 100 is on an Upswing

21% of all Three Indexes Top Holdings is on an Upswing

All the Major Indexes now have a Follow-Through Day, but like we have been saying with the negative price action lately we must be careful buying stock right now because this is poor price action after a Follow-Through Day

The Advance-Decline Diff Invisible Chart Indicators are now turning Negative. The Green Line is falling back below the zero line. This could be negative for stocks, this could be a sign that the Follow-Through Day is in trouble

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,

On Wednesday, June 29th GDP (QoQ) (Q1) final estimate was worst than expected

Thursday, June 30th Core PCE Price Index (MoM) (May) @ 8:30 am- (measures the changes in the price of goods and services purchased by consumers for the purpose of consumption) - This is the Fed's main indicator for Inflation. If this comes out Worst than expected, Showing Inflation is moving higher the Market could Collapse

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 starting to lose this fight. 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