Wyckoff change of character bar shows up in S&P 500 [Video]
|Watch the video extracted from the WLGC session before the market open on 26 Dec 2023 below to find out the following:
- How to identify a "change of character bar" in the market
- The 2 key elements to determine a "threatening condition"
- The key support zone for the S&P 500
- The immediate price target and the potential path for the S&P 500
- And a lot more...
The bullish vs. bearish setup is 665 to 27 from the screenshot of my stock screener below pointing to a healthy and positive market environment.
The two short-term market breadth hit the overbought level together with the overbought and overextended condition reflected in the price action in the S&P 500.
This is a sign of complacency in the market, which we should be aware of and cautious of while riding the strong uptrend.
A trading blueprint has been discussed last week during the live session, as tweeted below:
Find out:
— Ming Jong Tey (@MingJong) December 27, 2023
- How to manage the trades in this extended market $SPX.
- Will the Dec 2021 market crash repeat itself #SP500?
- Price action analysis on the 4 indices $NQ $RTY $YM $ES, Gold, Silver, Bitcoin, Dollar Index, Crude Oilhttps://t.co/nvacbW7RVP
Find out:
— Ming Jong Tey (@MingJong) December 27, 2023
- How to manage the trades in this extended market $SPX.
- Will the Dec 2021 market crash repeat itself #SP500?
- Price action analysis on the 4 indices $NQ $RTY $YM $ES, Gold, Silver, Bitcoin, Dollar Index, Crude Oilhttps://t.co/nvacbW7RVP
15 “low-hanging fruits” (GPS, FERG, etc…) trade entries setup + 21 others (U etc…) plus 10 “wait and hold” candidates have been discussed during the live session before the market open (BMO).
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