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Despite the long anticipated market correction last week, these 3 defensive stocks - $亿滋(MDLZ)$ , $宝洁(PG)$ , $可口可乐(KO)$ buck the trend and rally up higher. The average dividend yield ranges from 2–3% which is decent. Watch the video below to find out the potential low risk entry to ride this up wave:

Timestamps

• 0:27 MDLZ (Mondelez International, Inc)
• 3:09 PG (Procter & Gamble Company)
• 5:09 KO (Coca-Cola Company)

Market Update - Correction Is Finally Here

I first warned about potential market correction 2 weeks ago (Refer to this post) due to the red flags of the deteriorating of the market internals and market breadth.

Last week the red flags are still around without improving hence I urge that trade management (Click to read if you haven't)  is still the priority.

On 15 Jul (Thurs) during the Asian session, I posted another update here in my telegram group (Refer to the screenshot below) to emphasize the shortening of the upward thrust with increasing of supply.

Finally, the anticipated correction hit the market at this vulnerable position with increasing of supply and bearish spread. 

The immediate support level for S&P 500 is at 4280 (annotated in blue below) coincides with the demand line of the up channel.

US indieces with support area annotated

We need to see how the price interacts at the support area to judge the direction.

Further Reading

Q&A US Stocks EP4: Price Action Analysis on PLTR,BIDU, XOM, PYPL

Q&A EP3: Price Action Analysis on PYPL, LQDT, FUBO, NIO, XPEV

3 Stocks Set To Move Higher, Market Update & Growth Stocks Proxy