Big move coming for S&P 500 according to this market breadth indicator [Video]
Original content: Big move coming for S&P 500 according to this market breadth indicator [Video]
The bullish divergence in the stock market breadth and the price volume analysis of S&P 500 using the Wyckoff method suggest a potential big move ahead.
Click and watch the video below on YouTube (Pro Tip: adjust the speed to 1.5–2X). Pay attention to the analogue comparison using the Wyckoff trading method to spot the clues and tell-tale signs for the next big move.
The bullish setup vs. the bearish setup is 106 to 641 from the screenshot of my stock screener below. The bearish setup has spiked from 80 to 641, as the market dropped from 2–4% last week. Yet, the bullish setup has increased from 24 to 106, which was a constructive sign for the bullish scenario despite the bearish market.
Another encouraging sign is the addition of 1 more industry group that outperforms the market on top of the China stocks theme and the Biotech group.
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.