False Breakout for S&P 500? Discover What It Could Mean

Ming Jong Tey
2 min readMay 24

Find out how a false breakout could unfold in S&P 500 should a short-term bearish case materialize while the debate on the debt ceiling is still ongoing.

Pay attention to the important axis area as discussed in the video below before a shakeout is triggered.

The bullish setup vs. the bearish setup is 336 to 155 from the screenshot of my stock screener below pointed to a positive market environment.

The extended run-up in the Nasdaq 100 is also reflected by a handful of the FAANG stocks and the heavyweight in the semiconductor group. If one missed out this climatic run to the upside, pay attention to the end of the discussion of the Nasdaq 100 on what to anticipate after the impressive run.

The video above is part of the latest Weekly Live Group Coaching Session (1.5 hours) on 23 May 2023. Join here for full discussion including 20+ trade entry setup every week.

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Ming Jong Tey

I am a Wyckoff trader who practice kaizen in trading. Get Weekly Market Outlook & Best Trading Advice straight to your inbox: https://www.tradeprecise.com/