Ming Jong Tey
Independent Analyst
Has the stock market hit the bottom or is this a bear market rally to trap the bull? The bullish momentum bar reacted the CPI on last Thursday marked a significant milestone in S&P 500.
Watch the video to find out how you can form a sound trading plan with the Wyckoff trading method to ride on the trend on either direction at these key levels.
The bullish setup vs. the bearish setup is 455 to 57 from the screenshot of my stock screener below.
It is essential to pay attention to the price action and volume in S&P 500 and to identify a Wyckoff change of character for early detection of potential trend change.
Meanwhile, these are many outperforming stocks trending up as shown up in the stock screener despite the choppiness formed in the indices. Do look for strong relative strength as shown up in the individual stocks when identifying the winning stocks for swing trading.
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EUR/USD trades marginally higher above 1.0400 in the second half of the day on Friday. The absence of fundamental drivers and thin trading conditions on the holiday-shortened week make it difficult for the pair to gather directional momentum.
GBP/USD recovers to 1.2550 area following earlier decline
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Gold struggles to build on weekly gains, holds above $2,620
Gold enters a consolidation phase and trades below $2,630 on Friday after posting modest gains on Thursday. The risk-averse market atmosphere helps XAU/USD limit its losses as investors refrain from taking large positions heading into the end of the holiday-shortened week.
Bitcoin misses Santa rally even as on-chain metrics show signs of price recovery
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2025 outlook: What is next for developed economies and currencies?
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