Will S&P 500 Grind Higher Or Face A Dramatic Shakeout?

By Ming Jong Tey of Mastering Price Action Trading

Wednesday, March 13, 2024 7:30 AM EST

person using MacBook Pro on table

Image Source: Unsplash

Watch the video extracted from the WLGC session before the market open on 12 Mar 2024 below to find out the following:

How a shakeout and a market rotation scenario could unfold
Evidence of the emergence of supply in the past few weeks
The critical support level S&P 500 needs to hold to avoid the bearish trigger
and a lot more...

Video Length: 00:09:22

Market Environment

The bullish vs. bearish setup is 579 to 44 from the screenshot of my stock screener below. There is no shortage of bullish setups despite the market has been extended for months.

wyckoff method stock screener — Wyckoff method stock screener

Market Comment

Pay attention to the key support level as discussed in the video. A violation of this support level is likely to trigger either a shakeout or a market rotation (more obvious) in the S&P 500.

8 “low-hanging fruits” (PPC, TDW, etc…) trade entries setup + 20 actionable setups (QTWO etc…) have been discussed during the live session before the market open (BMO).

(Click on image to enlarge)