Alex's daily Market update & Focuslist - 04/16
Market breadth begin to weakens again, but indices holding up in the range area.
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GENERAL MARKET ANALYSIS
NASDAQ (NQ_F) Daily
Sentiment/Positioning:
Price Action Analysis:
NQ was under pressure Friday morning but found support at the recent intraday structure area around noon and rallied all afternoon to close above the 10dma.
We are still in that range between 12949$ and 13331$, and every attempt from the bulls or the bears seems to be faded. The trend remains up, but as long we stay in that range area, only a break above or below will confirm an upside continuation or reversal.
NQ_F is above all kma’s - uptrend.
On the upside (bullish scenario),
The 13331$ previous swing high pivot will be the level to watch to confirm an upside continuation.
On the downside (bearish scenario),
12949$ level & 21dma has to hold.
S&P500 (ES_F) Daily
Sentiment/Positioning:
RUSSELL 2K (RTY_F) Daily
Sentiment/Positioning:
LIQUID LEADERS (PRICE ACTION ANALYSIS)
We saw pretty mixed action in the mega-caps Friday.
MSFT -Daily
Inside day, still within that range area. A break above or below will give a low of information on the continuation or reversal.
AAPL -Daily
Range day, still above the 10dma.
NVDA - Daily
Constructive action on NVDA as we held the 263.99$ level and the 21dma. I’ll be looking at the mini-channel DTL breakout for an early continuation confirmation.
META - Daily
New high, continue to trend above the 10dma and lead the mega-caps.
In the following sections of tonight’s letter, I’ll cover essential parts of my daily routine & preparation for tomorrow’s trading session.
✅ My overall current market Takeaways & GAMEPLAN for tomorrow
✅ My daily Focuslist, including setups, alert levels & explanation (LONG/SHORT)
✅ My Portfolio update
✅ Sectors Review
✅ Market Breadth & Internals
✅ Economic Calendar
✅ Prime Model spreadsheet (PT_database)
✅ Leaders list (technicals, fundamentals & potential TMLs)
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