How The Hidden Signs of Selling into Strength Could Shake the S&P 500

Ming Jong Tey
3 min readJul 18, 2024

Watch the free-preview video below extracted from the WLGC session before the market opens on 17 Jul 2024 to find out the following:

  • The simplest way to spot a market rotation.
  • The analogues to adopt to anticipate the market correction
  • Why the change of character bar on last Thursday signals a shift in the market?
  • And a lot more…

Market Environment

The bullish vs. bearish setup is 661 to 25 from the screenshot of my stock screener below.

Wycvkoff method stock screener

There is a clear rotation from Nasdaq 100 and the S&P 500 into the Russell 2000 (& the Dow Jones) since 11 Jul 2024 (Thursday).

This is further confirmed by the significant improvement in both the number of the bullish setups and market breadth.

A pullback or consolidation could provide a great opportunity for re-accumulation. Now again is the best time to identify the next batch of leaders (like KRE)

--

--

Ming Jong Tey
Ming Jong Tey

Written by 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/

No responses yet