Will The Nasdaq 100's Relief Rally Hold Or Is A Sharp Decline Inevitable?

By Ming Jong Tey of Mastering Price Action Trading

Wednesday, July 24, 2024 6:15 AM EDT

Man, Computer, Stock Trading, Iphone, Hands, Finance

Image Source: Pixabay

Watch the free-preview video below extracted from the WLGC session before the market opens on 23 Jul 2024 to find out the following:

How might the rotation of funds into small-cap stocks and the Dow Jones affect the Nasdaq 100?
How can we spot the exhaustion of the downward momentum and hidden demand?
Why could more weakness be ahead in the Nasdaq 100 and what to expect next?
And a lot more...

Video Length: 00:06:53

Market Environment

The bullish vs. bearish setup is 510 to 85 from the screenshot of my stock screener below.

wyckoff method stock screener — **Wyckoff method stock screener**

The ongoing rotation from the Nasdaq 100 & S&P500 into the Russell 2000 as mentioned in last week’s email is further manifested in yesterday’s price action among the indices.

Despite the weakness reflected in the major indices, there is still no shortage of bullish setups (510 bullish setups vs. 85 bearish setups) thanks to the market rotation.

3 Stocks Ready To Soar

5 “low-hanging fruits” trade entries setups CLBT, TPC + 19 actionable setups CVNA were discussed during the live session before the market open (BMO).

(Click on image to enlarge)