Bearish Signal Spotted at Key Resistance Level!

Watch the free-preview video below extracted from the WLGC session before the market open on 28 May 2024 to find out the following:

• The significance of volume spikes and bearish change of character bars in predicting market trends
• The pivot level to confirm the reversal signal.
• The possible scenarios for market trends based on the current trading range and volume patterns.
• The immediate downside target for the S&P 500 upon confirmation of the reversal signal.
• And a lot more…

Market Environment

The bullish vs. bearish setup is 408 to 155 from the screenshot of my stock screener below.

Wyckoff method stock screener

The bearish change of character bar with a spike of supply popped up at the all-time high resistance as discussed in the video is a red flag.

On top of that, both the short-term and the long-term market breadth deteriorate. The equal weight (RSP) forming a lower high further confirms the lack of…