Coiling for A Breakout! Up or Down?

Watch the video extracted from the WLGC session before the market open on 16 Jan 2024 below to find out the following:

• How the potential supply absorption scenario could unfold and affect the S&P 500
• The spring entry setup for short-term swing trading.
• Why the current rally might not be sustainable
• The price target of the S&P 500 should the key support levels fall through
• and a lot more…

The bullish vs. bearish setup is 276 to 178 from the screenshot of my stock screener below.

Although this is still a healthy and positive market environment, the bullish setup has decreased significantly compared to last week.

This is consistent with the deteriorating short-term market breadth, suggesting only a handful of the heavy-weight stocks are supporting the S&P 500.

Wyckoff method stock screener

8 “low-hanging fruits” (CR, ANF, etc…) trade entries setup + 15 others (CELH etc…) plus 8 “wait and hold” candidates have been discussed during the live session…