Buckle up: S&P 500 may plunge towards immediate support zone amidst market volatility [Video]

Ming Jong Tey Independent Analyst

The increasing volatility and volume in S&P 500 could cause further weakness to test the immediate support zone. Watch the video below to find out how to use the Wyckoff method to anticipate the price action and the potential price target before it happens in S&P 500.

The bullish setup vs. the bearish setup is 342 to 145 from the screenshot of my stock screener below suggested still a positive market environment.

However, the frequent failure of the breakout trade setups in last week should remind us on the increasing of the market volatility. It is time to be defensive with smaller size based on conservative risk management and lock in the profit for existing positions.

Author

Ming Jong Tey

Independent Analyst

Ming Jong Tey has been trading since 2008. He started his learning journey from technical analysis (indicators, Fibonacci, etc...) to value investing. Throughout his journey, he develops an interest in price action with chart pattern trading.

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