Is The S&P 500 Ready For A Breakout?


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Watch the free-preview video below extracted from the WLGC session before the market opens on 11 Jun 2024 to find out the following:

  • How to interpret the “bullishness” based on the pullback and the volume reacting to the resistance level.
  • Why is the recent volume and price action considered bullish for the S&P 500.
  • How can traders use the concept of ‘coiling’ or a ‘bullish Harami’ to anticipate future market moves
  • And a lot more…
  • Video Length: 00:04:05Market EnvironmentThe bullish vs. bearish setup is 235 to 283 from the screenshot of my stock screener below.

    Wyckoff method stock screener

    The number of the bullish setups further decreases and the short-term market breadth confirms this.However, the S&P 500 SPX and the Nasdaq 100 QQQ are still showing strength thanks to the support from the heavyweight stocks.

    3 Stocks Ready To Soar
    6 “low-hanging fruits” (INSM DPZ) trade entries setups + 14 actionable setups MU were discussed during the live session before the market open (BMO).DELL is also pending a reversal confirmation as posted in the note earlier on.As the market environment (bullish setups) and the market breadth are yet to show strength, my priority is to manage existing trades to protect the profit (breakeven or early exit before stopping out) as the defensive mode is on.I will reduce the position size for new positions to test the water until they prove it to me.

    MU

    More By This Author:Is This Bullish Reversal Signal The Key To Huge Gains Ahead?
    Bearish Signal Spotted At Key Resistance Level!
    What The Subtle Signs Say About The S&P 500

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