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

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The Major Indexes closed up slightly today, The Dow Jones, S&P 500, and Nasdaq closed up around 0.30% today


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


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


63% of the Dow Jones is on an Upswing


62% of the S&P 100 is on an Upswing


77% of the Nasdaq 100 is on an Upswing


69% 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 is moving above and below the above Zero on the Dow Jones and S&P 500. It is not staying on one side for long


The Green Line on the Nasdaq is below the Zero Line. I find the Nasdaq Diff. chart interesting because it's the strongest Index right now with the weakest-looking Diff. Chart.


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,


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 fighting. 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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