Ming Jong Tey
Independent Analyst
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.
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.
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