Toppish pattern or a rally in the making for S&P 500? [Video]

Ming Jong Tey Independent Analyst

Watch the video extracted from the WLGC session before the market open on 19 Mar 2024 below to find out the following:

The key support S&P 500 needs to hold to grind up further.
The signs of exhaustion of the momentum.
The red flag as been showing up in the past few weeks.
and a lot more…

Market environment

The bullish vs. bearish setup is 432 to 132 from the screenshot of my stock screener below.

Despite the decrease of the bullish setup compared to last week’s, there are still plenty of trade entry setups in the making.

Wyckoff method stock screener

Market comment

Both the minor level and the key support level as discussed in the video play a key role in the S&P 500’s uptrend. As long as it is staying above the level, it could still grind up further.

8 “low-hanging fruits” (IBP, AYI, etc…) trade entries setup + 18 actionable setups (TGT etc…) have been discussed during the live session before the market open (BMO).

IBP

AYI

TGT

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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