Ming Jong Tey
Independent Analyst
Watch the video from the WLGC session before the market opens on 26 Nov 2024 to find out the following:
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How can supply absorption be spotted during a market pullback?
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The textbook style setup every trader can easily apply.
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The buy-on-dip analogues in the past that traders could use as benchmarks in the current market environment.
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And a lot more...
Market environment
The bullish vs. bearish setup is 863 to 28 from the screenshot of my stock screener below.
There are lots of complacency in the market and they are reflected in the overbought and over-extended price action.
Three stocks ready to soar
19 actionable setups such as DASH, CORZ, VIK were discussed during the live session before the market open (BMO).
DoorDash (DASH)
Core Scientific (CORZ)
Viking Holdings (VIK)
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Editors’ Picks
EUR/USD regains 1.0500 and beyond as US Dollar wilts ahead of data
EUR/USD is extending the rebound above 1.0500 in the European session on Wednesday. Traders cash in on the US Dollar long positions ahead of a series if top-tier US data, lifting the pair. The USD/JPY sell-off also adds to the US Dollar downside.
GBP/USD holds gains near 1.2600, US PCE data eyed
GBP/USD extends the bullish momentum to trade near 1.2600 in European trading on Wednesday. The pair remains underpinned by a sustained US Dollar weakness and risk-off sentiment as traders turn cautious ahead of top-tier US data releases.
Gold price climbs above $2,650 on trade war concerns, sliding US bond yields and softer USD
Gold price sticks to modest intraday gains near a two-day high, above the $2,650 level, through the first half of the European session as geopolitical risks and US President-elect Donald Trump's tariff plans drive haven flows for the second straight day.
US core PCE inflation set to hold steady, raising doubts on further Federal Reserve rate cut
The United States Bureau of Economic Analysis (BEA) is set to release the Personal Consumption Expenditures (PCE) Price Index data for October on Wednesday at 13:30 GMT.
Eurozone PMI sounds the alarm about growth once more
The composite PMI dropped from 50 to 48.1, once more stressing growth concerns for the eurozone. Hard data has actually come in better than expected recently – so ahead of the December meeting, the ECB has to figure out whether this is the PMI crying wolf or whether it should take this signal seriously. We think it’s the latter.
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