Is It Time for Bargain Hunting to Bet on a Relief Rally?
Watch the video extracted from the live session on 15 Aug 2023 below to find out the following:
The very first thing we need to seek on in anticipation of a relief rally.
Is now the time for bargain hunting for investing and position trading?
How to define a “change of character” bar and why is it significant for predicting a technical rally
How to seek confirmation from the volume for a market reversal
And a lot more
Since there is a presence of demand as shown in the support zone, it is essential to get a bullish change of character bar (refer to the characteristics as discussed in the video) before betting on a relief rally. $S&P 500(.SPX)$ @TigerStars
The bullish vs. bearish setup is 309 to 208 from the screenshot of my stock screener below pointing to a positive market environment. Yet, the increase in market volatility makes it challenging for upside follow-through for the majority of the stocks.
12 “low hanging fruits” ( $Clean Harbors(CLH)$ , $Quanta(PWR)$ , etc…) trade entries setup + 24 others ( $PulteGroup(PHM)$ , $nVent Electric plc(NVT)$ , etc…) plus 8 “wait and hold” candidates have been discussed during the live session. Click to visit TradePrecise.com to find out the top 3 unknown stocks ready to soar for free via email.
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.
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ETF Sentiment: SPX is the #7 ETF that institutions are trading with 32.1K options contracts.
SPX is currently through GS short term CTA threshold trigger