Could this be the perfect short selling entry? [Video]

Ming Jong Tey Independent Analyst

Could the overbought of the market breadth together with the Wyckoff upthrust price action with increasing supply form the perfect short selling entry as S&P 500 is topping out?

Watch the video below to find out how to pinpoint this potential short selling entry in S&P 500 and the immediate price targets.

The bullish setup vs. the bearish setup is 173 to 205 from the screenshot of my stock screener below.

The Wyckoff upthrust with increasing of supply suggested the smart money sold into strength. The key resistance area is where the supply line of the down channel together with the supply zone, which is a natural place to attract short sellers and profit taking activities.

Most importantly there was Wyckoff change of character bar showed up on 5 Dec 2022 (Monday) in many of the leading stocks, which was a red flag in the stock market.

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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