a weekly cup and handle is unfolding [poll inside]
This is a pre-live session market update in 30 seconds for the paid & free subscribers.
WLGC Session 144 (Week 21, 2024) will start on 20 May 2024 (Tuesday Monday), 8 pm (GMT + 8).
Click here for more details about the weekly live session.
Market Update in 30s
The all-time high bullish case for the S&P 500 is unfolding!
The supply level is relatively low and no meaningful reaction from the all-time high level, YET.
So the direction is still up (despite the poor demand quality)!
As anticipated last week, Gold, Silver and Copper continued to rally up.
Bitcoin formed a higher low and breakout from the downtrend line last Wednesday to flip to an upswing.
This bullish accumulation structure since Mar 2024 is still in good progress on top of the megastructure (cup and handle) in the weekly chart as shown below.
This is a sweet spot for swing and position trading for bitcoin (ETFs) like IBIT.
HangSeng index has been on a steep rise with super momentum since a month ago.
Let's hunt for some nice setups (PDD is looking good) for those listed in the US.
Your view
We will also discuss Nasdaq, Russell 2000, Dow Jones, Gold, Silver, Bitcoin, Dollar Index, exciting chart development, and the trade entry setups with decent rewards to risk.
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Disclaimer: The information in this presentation is solely for educational purposes and should not be taken as investment advice.
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