Alex's daily Market update & Focuslist - 04/19
Market still in range... with lot of mixed signals.
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GENERAL MARKET ANALYSIS
NASDAQ (NQ_F) Daily
Sentiment/Positioning:
Price Action Analysis:
NQ started weak again as we retested the 10/21c and DTL on the futures market. But right at the open, we quickly found support and rallied all day to close flat for the day finally.
I usually like to see this sideways action as we build pressure for the next move higher, but right now, I feel we’re playing this game for too long. Too tight for too long?
We need to push above the 13230$ ish pivot & then the 13331$ level to confirm continuation… until then, I will be more & more cautious each time we can’t push above that level.
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.
The 13247$ level can even be used to anticipate a long entry before the 13311$ base level.
On the downside (bearish scenario),
12949$ level & 21dma has to hold.
The 13082$ can even be used to anticipate a short entry before the 12949$ level.
S&P500 (ES_F) Daily
Sentiment/Positioning:
RUSSELL 2K (RTY_F) Daily
Sentiment/Positioning:
LIQUID LEADERS (PRICE ACTION ANALYSIS)
Mixed action in the mega-caps today.
MSFT -Daily
Gapped down, and closed the gap to close near the 289.27$ base level.
AAPL -Daily
Base breakout today.
NVDA - Daily
Base breakout today.
META - Daily
Gap down and was not able to reclaim the 10dma. Acting weak, let’s see if it’s bought tomorrow.
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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