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S&P 500 poised for a major rally, but only if this critical level holds [Video}

With the U.S. election and FOMC meeting around the corner, the S&P 500 is poised for potential volatility. Here’s what investors need to keep an eye on:

  • Key 5,700 support level: This level is crucial for determining the market's next direction.
  • Bearish signals: Rising supply levels and recent sell-offs hint at potential downside.
  • Historical patterns: 2016 and 2020 market analogs may offer clues about upcoming moves.
  • Bullish vs. bearish scenarios: Understanding potential outcomes can help investors strategize.
  • Technical patterns: Bear flags, breakouts, and spring actions are all in play.

Watch the video below for a detailed analysis of the S&P 500 to find out how to strategize your investment portfolio and the swing trades.

Author

Ming Jong Tey

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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