Here is a trading plan of reversal trading for S&P 500 at this axis area [Video]

Ming Jong Tey Independent Analyst

After an impulsive down wave in S&P 500 after the FOMC rate hike, it is still testing the key area with possible more weakness ahead to be triggered by the coming CPI announcement.

Watch the video below to find out how you can take advantage with a simple trading plan to trade the reversal in S&P 500 at the key area with multiple timeframe analysis using Wyckoff method.

The bullish setup vs. the bearish setup is 493 to 130 from the screenshot of my stock screener below.

There is certainly smart money rotation from the Nasdaq into the Dow Jones, which is a typical sector rotation from growth into the value theme. There are many mega cap stocks from the hitting new high while some high reward to risk trade entry setup. These are still the outperforming stocks since the low formed in October and should be the one to focus when you are looking to find the winning stocks for swing trading.

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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