I'm Brandon, a senior stockbroker at a local securities firm and also a professional trainer with Singapore Exchange (SGX) Academy. Holder of Chartered Market Technician (CMT) and Certified Financial Technician (CFTe) with over 10 years experience in the financial industry.
This blog aims to share how private traders can forecast price and trade in line with the market and smart money by applying Wyckoff principles and simple technical analysis techniques.
Monday, 25 March 2019
Weakness on US Market
The above was a chart I shared with our Wyckoff community showing SnP500 climbing higher with a weak FFI reading (FFI is our proprietary price and volume based tool, free for our community, to recognise if funds are flowing and supporting a particular trend). A weak and divergence FFI signifies that the upward trend (mark up) is weak and poised for correction.
Within days, we saw the -54 points (1.90%) drop on S&P500.
What's More Important!
To add further, the -54 points is significant to our market studies. Its a Bearish Change of Character for SnP500.
Character is one of the key principles within our Wyckoff community. On a Upward Trend (Mark Up), we expect price to increase with more volume and pulls back with light volume, vice versa for downward trend (Mark Down).
On 22 Mar, we saw SnP500 sell off with large volume on a upward trend. This signifies a bearish change of character on an upward move.
Now we are watching closely for further bearish observations to determine if the index has reached a top.
Below is an analysis of the chart.
To learn more about interpreting market actions and trade in harmony the market,
Join Us in our upcoming Richard Wyckoff Method class and community. The course is jointly organised with SGX Academy.