Failure of the Market Breadth Thrust? Refer to the Wyckoff Logic from 2011 Bear Market
The market breadth thrust drops sharply from above 90 to 33 in 2 weeks, which is a weakness in the market. Will this sharp pullback violate the previous analysis on spotting the market bottom with the breadth thrust?
Let’s refer to the Wyckoff logic from 2011 bear market to find out whether the current pullback in S&P 500 is still healthy. Click and watch the video below:
The bullish setup vs. the bearish setup is 53 to 667 from the screenshot of my stock screener below. More stock leaders were shot down with only a handful of stocks from the Biotech and Solar industry groups being resilient and bucking the trend.
Despite multiple attempts to stop the down move with presence of demand, supply is still dominating. Hence S&P 500 is expected to have more weakness ahead. Visit TradePrecise.com to get more stock market insights in email for free.
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Disclaimer: The information in this presentation is solely for educational purpose and should not be taken as investment advice.