S&P 500’s wild card month: Brace yourself for the unexpected [Video]

Ming Jong Tey Independent Analyst

Watch the video extracted from the live session on 29 Aug 2023 below to find out the following:

How to derive the tell-tale signs from last week’s price action
What to look for after a stopping action
What to expect during the most volatile month (September)
The short-term trend development in the S&P 500
And a lot more

The bullish vs. bearish setup is 229 to 120 from the screenshot of my stock screener below pointing back to a positive market environment.

14 “low hanging fruits” (CLS, CELH, etc…) trade entries setup + 23 others (URNJ, SOFI, etc…) plus 8 “wait and hold” candidates have been discussed during the live session.

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.

EUR/USD looks weak below 1.1800

EUR/USD has slipped back under pressure, breaking through the 1.1800 support and drifting towards the weekly lows near 1.1770 ahead of the opening bell in Asia. The move reflects renewed strength in the US Dollar, with steady geopolitical tensions keeping its demand firm. Moving forward, the release of the German labour market report and flash inflation figures should keep European investors entertained on Friday.

GBP/USD threatens the 200-day SMA near 1.3440

GBP/USD rapidly leaves behind Wednesday’s strong advance, coming under heavy pressure and retesting the 1.3440 zone, where the critical 200-day SMA is located. Cable’s deep pullback follows the strong gains in the Greenback, while investors continue to pencil in a potential BoE rate cut in March.

Gold trims gains, slips back to around $5,170

Gold is now facing some downside pressure, hovering around the $5,170 region on Thursday. The yellow metal surrenders part of its earlier gains on the back of the resurgence of the buying interest in the Greenback. In the meantime, geopolitical tensions in the Middle East continue to limit the downside potential for now.