Ming Jong Tey
Independent Analyst
Watch the video extracted from the WLGC session before the market open on 20 Feb 2024 below to find out the following:
-
How to spot the exhaustion of demand.
-
The bearish analogue you could refer to to anticipate the down move.
-
The key level S&P 500 needs to break to trigger a selloff.
-
and a lot more…
Market Environment
The bullish vs. bearish setup is 618 to 53 from the screenshot of my stock screener below.
The short-term market breadth is still showing bearish divergence, which is another bearish condition to watch out for.
During a market pullback, we can easily identify the true market leaders. So pay attention to the stock setups that show relative strength because they will be the candidates to turn up first (compared to the indices).
8 “low-hanging fruits” (TWST, INBX, etc…) trade entries setup + 16 actionable setups (SNDX etc…) plus 13 “wait and hold” candidates have been discussed during the live session before the market open (BMO).
TWST
INBX
SNDX
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended content
Editors’ Picks
EUR/USD remains pressured below 1.0800 on renewed USD strength
EUR/USD stays under pressure and declines toward 1.0750 following Thursday's recovery. A renewed US Dollar uptick and a cautious mood weigh on the pair, as traders digest the Trump win and the Federal Reserve's monetary policy announcements.
GBP/USD holds lower ground near 1.2950 amid tepid risk sentiment
GBP/USD trades in negative territory at around 1.2950 in the second half of the day on Friday. The emergence of dip-buying in the US Dollar and a tepid risk tone undermine the pair. The BoE’s cautious rate cut could check the pair's downside as traders comments from central bankers.
Gold fluctuates below $2,700 amid stronger USD, positive risk tone
Gold trades below $2,700 in the early American session on Friday and is pressured by a combination of factors. Hopes that Trump's policies would spur economic growth and inflation, to a larger extent, overshadow the Fed's dovish outlook, which, in turn, helps revive the USD demand.
Week ahead – US CPI to shift market focus back to data after Trump shock
After Trump comeback, normality to return to markets with US CPI. GDP data from UK and Japan to also be important. But volatility to likely persist as markets assess impact of Trump.
October’s US CPI rates to be the next big test for the greenback
With the US elections being over, Trump getting elected and the Fed having released its interest rate decision, we take a look at what next week has in store for the markets. On the monetary front a number of policymakers from various central banks are scheduled to speak at some point or the other.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.