Strong Rally Ahead in S&P 500 When This Bullish Price Volume Pattern Commits Above ___

WYCKOFFPRO
2022-06-06

When S&P 500 completes this bullish price volume pattern, it is expected to test higher price targets and attract traders and investors who are on the sidelines. Price targets based on the Point and Figure chart are covered in the video.

Click and watch the video below on YouTube (Pro Tip: adjust the speed to 1.5–2X). Pay attention to the key levels and the price and volume characteristics for bull and bear case as shown in the video.

The bullish setup vs. bearish setup is 355 vs 246 from the screenshot of my stock screener below. Bearish trade setup has increased from last week yet there are many high quality bullish setup while the market is consolidating.

Short-term uptrend is still intact until proven otherwise by a meaning reversal commits below the key level as mentioned in the video. This up swing is still a tradeable bear rally. 

Safe trading. If you are day trading the US futures or swing trading for Malaysia and US stocks, do check out my YouTube Channel: Ming Jong Tey for additional videos and resources. @TigerStars $S&P 500(.SPX)$ $Alibaba(BABA)$ $NVIDIA Corp(NVDA)$ $Apple(AAPL)$ $Tesla Motors(TSLA)$ 

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

  • Duizzz
    2022-06-08
    Duizzz
    As always, be cautious and not too excited about the market [Grin] [Grin] [Grin]
  • Eng22
    2022-06-08
    Eng22
    The usual due diligence required do not get overly excited to rush into trades.
  • bwjx
    2022-06-08
    bwjx
    I would say is more of a consolidation for now. CPI data this Fri could easily bring the market into bear or bull territory. [Happy] [Happy]
  • Benjean
    2022-06-08
    Benjean
    Market maker will do it their way up
  • LohYK
    2022-06-08
    LohYK
    most price are undervalue. just buy and come back few years later
  • 21900VAHP
    2022-06-08
    21900VAHP
    Make sure that we are investing not gambling.
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