Ming Jong Tey
Independent Analyst
Take a look at the tell-tale signs from the market breadth, price and volume to find out how likely is S&P 500 to break above the resistance zone.
Click and watch the video below to spot the difference of the characteristics of the price action between the current development and the past two analogues in March and May 2022.
The bullish setup vs. the bearish setup is 279 to 81 from the screenshot of my stock screener below.
Despite the pullback in the indices last week on top of increase of the volatility in many stocks reacting the earning announcements, there are still more bullish setups than the bearish setups.
Having said that, stock selection and the entry point are crucial in this volatile market environment as the market bottoming process might be unfolding according to this breadth thrust indicator.
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