False Breakout for S&P 500? Discover What It Could Mean

WYCKOFFPRO
2023-05-25

Find out how a false breakout could unfold in S&P 500 should a short-term bearish case materialize while the debate on the debt ceiling is still ongoing.

Pay attention to the important axis area as discussed in the video below before a shakeout is triggered. @TigerStars $S&P 500(.SPX)$ $E-mini S&P 500 - main 2306(ESmain)$ $SPDR S&P 500 ETF Trust(SPY)$ $E-mini Nasdaq 100 - main 2306(NQmain)$ $NASDAQ(.IXIC)$ $DJIA(.DJI)$

The bullish setup vs. the bearish setup is 336 to 155 from the screenshot of my stock screener below pointing to a positive market environment.

The extended run-up in the Nasdaq 100 is also reflected by a handful of the FAANG stocks and the heavyweight in the semiconductor group. If one missed out on this climatic run to the upside, pay attention to the end of the discussion of the Nasdaq 100 on what to anticipate after the impressive run.

The video above is part of the latest Weekly Live Group Coaching Session (1.5 hours) on 16 May 2023. Click to visit TradePrecise.com to get more stock market insights in email for free.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

  • jingli
    2023-05-25
    jingli

    I’m calling for another 50%+ move on the semi sector from here. SMH to 200+. FAANGS and miners are heading for a historic run ahead. Rally begins with the pause at near all time highs. Investors will be all in at the top and be bullish at the top. Start buying aggressively at these levels before it’s to late.

    • WYCKOFFPRO
      i am selling into strength partially and trailing stop to protect profit. Short term over extended, long term still a bullish structure
  • frostiix
    2023-05-25
    frostiix

    I don't think oil falls much from here. I'm in at 60 half position and would have bought more at 61 but pull back unlikely. Will hold until 71-72 and exit. Opec meeting coming soon and should support prices here.

  • mizzle
    2023-05-25
    mizzle

    June 13th AMD will unveil its new A.I. technology and Data Center solutions.

    This stock has nowhere to go but up.

  • ColinThorndike
    2023-05-25
    ColinThorndike

    When You Keep Investing in the Best Tech like AMD... You Will Keep Setting New Highs.

  • fizzik
    2023-05-25
    fizzik

    Long semis and AMD. I wish I had listened to T sooner. It’s never to late

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