is the S&P 500 ready for a breakout?
3 min readJun 12, 2024
Market Discussion
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…
Market Environment
The bullish vs. bearish setup is 235 to 283 from the screenshot of my stock screener below.
The number of the bullish setups further decreases and the short-term market breadth confirms this.
However, the S&P 500 SPY 0.00%↑ and the Nasdaq 100 QQQ 0.00%↑ are still showing strength thanks to the support from the heavyweight stocks.
