Overbought, Overextended — What’s the Buzz Now?

Ming Jong Tey
3 min readFeb 14, 2024

Watch the video extracted from the WLGC session before the market open on 13 Feb 2024 below to find out the following:

  • The key support level for the Nasdaq 100
  • The directional bias for the long-term, swing and immediate term.
  • The red flags you need to be aware of in this current market.
  • and a lot more…

Market update 14 Feb 2024:

A sharp selloff happened after the live session as the market reacted to the CPI data.

S&P 500 distribution day

The magnitude and supply are slightly less than 31 Jan 2023. So far yesterday’s drop in S&P 500 (ES) did not pose a great concern yet. 4850 is a meaningful support that needs to hold.

Meanwhile, Russell 2000 (RTY) had a more severe drop, as shown below:

Russell 2000 key support level



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/