Market Update (Sep 4 2024)

  • There was a spike of the supply level in conjunction with a bearish commitment below the bull flag support at 5580.
  • This is likely the overdue test of the previous down swing from 17 Jul-5 Aug.
  • A complex trading range as discussed in the video is still unfolding.
  • During a market pullback is the best time to look for relative strength in the stocks.

    • Market EnvironmentThe bullish vs. bearish setup is 910 to 46 from the screenshot of my stock screener below.

    Wyckoff method stock screener
    3 Stocks Ready To Soar9 “low-hanging fruits” trade entries setups & 27 actionable setups such as were discussed during the live session before the market open (BMO).While the market is taking a hit, we will look for those who drop the least or even bucking the trend, such as VIRT, CHRW, SN.Be patient and wait until the market is ready for a turn or to test the water with smaller position size in the stocks showing outperformance.
    VIRT
    CHRW
    SN
    Watch the free-preview video from the WLGC session before the market opens on 3 Sep 2024 to find out the following:

  • The signal that traders need to seek for to confirm the bullish flag.
  • The key support zone that S&P 500 could visit should the failure of the bull flag shows up.
  • How to judge the volume level to form a directional bias.
  • And a lot more…

    • More By This Author:Is The S&P 500 On The Verge Of A Breakout?
    Why Low Volume In S&P 500 Could Be Signaling A Hidden Opportunity?
    Is The Market Bottom Here? Will The S&P 500 Break Down Further?

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