The bears are aiming these key levels for a big drop in S&P 500 [Video]

Ming Jong Tey Independent Analyst

These are the key levels the bears are watching and could form a great opportunity for shorting in anticipation of a big drop in S&P 500. Watch the video below to find out the trading plan for shorting S&P 500 based on the Wyckoff method and the long and short term directional bias.

The bullish setup vs. the bearish setup is 219 to 238 from the screenshot of my stock screener below. Since the market is still weak, I will be very selective for initiating long position and to only focus on the outperforming industry groups like home builders and precious metals.

There is increasing of the volatility in the market since I mentioned the perfect short selling entry 2 weeks ago. There are still plenty of shorting opportunities as the bias is still to the downside. Do pay attention at the key levels as mentioned in the video.

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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