Stock Market Bottom or Bull Trap? Follow The Wyckoff Trading Method
An oversold rebound in S&P 500 $S&P 500 Index (.SPX.US)$ is unfolding on last Friday 13 May 2022 as signaled by the market breadth. Find out how to use Wyckoff trading method to determine if this is a stock market bottom or a bull trap by focusing on the characteristics of the price action and the volume.
Click and watch the video below on YouTube (Pro Tip: adjust the speed to 1.5–2X):
The bullish setup vs. bearish setup is 133 vs 190 from the screenshot of my stock screener below. This is a sharp reversal from last week (72 vs 923). The screener also reflects the sharp turning of the market breadth, which is constructive for the bulls.
Do watch till the end of the video to find out the thought process and key levels that will violate the bearish scenario. $Nasdaq Composite Index (.IXIC.US)$ $Dow Jones Industrial Average (.DJI.US)$
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