Ming Jong Tey
Independent Analyst
Discover the leading sectors and industry groups of 2023 and use this top down approach for stock selection to trade the strongest stock in the leading group and sector.
The second best performing group is on the verge of outperforming the S&P 500, which could be the entry points for the stocks in an accumulation structure according to the Wyckoff method as discussed in the video below.
The bullish setup vs. the bearish setup is 438 to 160 from the screenshot of my stock screener below pointed still a positive market environment with no shortage of the trade entry setup.
However the market breadth is still neutral towards positive, which suggested now is not the time to be aggressive as volatility kicks in for the breakout setup. The increase of the volatility is not uncommon during the bottoming process as the market is always a leading indicator of the macro economic as tweeted below:
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