Bearish momentum alert: Here's why the S&P 500 could break down soon [Video]

Ming Jong Tey Independent Analyst

Watch the free-preview video below extracted from the WLGC session before the market opens on 30 Jul 2024 to find out the following:

How to spot the tell-tale signs of weakness in the S&P 500 based on past analogues.
The top 2 indicators to identify the increase in the bearish momentum.
The downside target for the S&P 500.
And a lot more…

Market environment

The bullish vs. bearish setup is 583 to 59 from the screenshot of my stock screener below.

Although there is no shortage of bullish setups, the current rotation from the Nasdaq 100 (and S&P 500) into the Russell 2000 stirred up volatility.

Many breakout setups do not have immediate follow-through to the upside. More time is needed for supply absorption.

Three stocks ready to soar

7 “earning reactions” AXP setups, 3 “low-hanging fruits” KBH trade entries setups + 7 actionable setups JEF were discussed during the live session before the market open (BMO).

AXP

KBH

JEF

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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