Get ready for a wild ride: Here’s how S&P 500 could set up for huge momentum swing after FOMC [Video]


Share:

Despite the bearish sentiment in the stock market, S&P 500 was oversold and should attempt to rally up according to Wyckoff’s efforts vs results.

Watch the video below to find out how the coming FOMC announcement for the rate hike could stir up for a huge momentum swing. It is essential to pay attention to how S&P 500 reacts at these key levels in order to form the trading plan for short-term swing trading.

 

The bullish setup vs. the bearish setup is 166 to 243 from the screenshot of my stock screener below pointed still a negative market environment.

wyckoff method stock screener

Despite the rebound in S&P 500 as anticipated, the stock market breadth is lacking behind suggested an upside non-confirmation, which is not a healthy market. Semiconductor group (SMH)remains as outperforming in the short-term, medium and longer term since Oct 2022 as discussed during the live session. The video above is part of the latest Weekly Live Group Coaching Session (1.5 hours) on 23 Mar 2023. 

Share: Feed news

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.

Follow us on Telegram

Stay updated of all the news

Join Telegram

Recommended content


Follow us on Telegram

Stay updated of all the news

Join Telegram

Recommended content

Editors’ Picks

EUR/USD stays below 1.0700 as USD gathers strength

EUR/USD stays below 1.0700 as USD gathers strength

EUR/USD continues to trade in negative territory below 1.0700 on Wednesday. Higher-than-expected increase in US JOLTS Job Openings for April provides a boost to the US Dollar and weighs on the pair as investors keep a close eye on US debt-limit news.

EUR/USD News

GBP/USD struggles to recover above 1.2400

GBP/USD struggles to recover above 1.2400

GBP/USD has lost its traction and declined below 1.2400 after having climbed above that level earlier in the day. The pair struggles to gather recovery momentum as the US Dollar holds its ground after strong employment data. Markets await House vote on debt-limit bill.

GBP/USD News

Gold extends daily rebound beyond $1,970

Gold extends daily rebound beyond $1,970

Gold price has gained traction and advanced above $1,970 in the second half of the day on Wednesday. The benchmark 10-year US Treasury bond yield stays in negative territory and allows XAU/USD to keep its footing. Market mood remains cautious ahead of the debt-ceiling vote.

Gold News

Ethereum holders pull $1 billion in ETH off exchanges hinting retail-led rally

Ethereum holders pull $1 billion in ETH off exchanges hinting retail-led rally

Ethereum holdings in exchange wallets declined by $1.04 billion between May 8 and May 31. Interestingly, while large wallet investors have shed their Ether holdings, the altcoin got redistributed to addresses with less than 1 ETH.

Read more

C3.ai Stock News: After 33% rally, AI shares backtrack ahead of earnings

C3.ai Stock News: After 33% rally, AI shares backtrack ahead of earnings

C3.ai (AI) stock slipped 7.6% to $41.62 in Wednesday’s premarket ahead of quarterly earnings expected after the close. This may just be traders taking profits after Tuesday’s 33.4% surge in the AI stock price.

Read more

Forex MAJORS

Cryptocurrencies

Signatures