Image Source: Pixabay
 

Watch the video extracted from the WLGC session before the market open on 16 Jan 2024 below to find out the following:

• How the potential supply absorption scenario could unfold and affect the S&P 500 (SPX)
• The spring entry setup for short-term swing trading.
• Why the current rally might not be sustainable
• The price target of the S&P 500 should the key support levels fall through
• and a lot more...

Video Length: 00:07:23

The bullish vs. bearish setup is 276 to 178 from the screenshot of my stock screener below.

Although this is still a healthy and positive market environment, the bullish setup has decreased significantly compared to last week.

This is consistent with the deteriorating short-term market breadth, suggesting only a handful of the heavy-weight stocks are supporting the S&P 500.

8 “low-hanging fruits” (CR, ANF, etc…) trade entries setup + 15 others (CELH, etc…) plus 8 “wait and hold” candidates have been discussed during the live session before the market open (BMO).

(Click on image to enlarge)

(Click on image to enlarge)

(Click on image to enlarge)

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Start Of Something Big Or Just A Temporary Pause?
Has The Rally Lost Steam? Price, Momentum, And Volume Hold The Clues!
S&P 500's Wyckoff Change Of Character Bar - What You Need To Know