Alex's daily Market update & Focuslist - 12/28
HAPPY HOLIDAYS!
HAPPY HOLIDAYS!
As we wrap up another eventful year in the markets, let's take a moment to celebrate our collective journey, the gains we've made, and the lessons we've learned.
Here's to a season filled with joy, rest, and reflection. I wish you all a wonderful holiday season with family and a prosperous New Year. Keep trading smart! 🌟📈
A heartfelt thanks to all subscribers for your continued readership and loyalty throughout this eventful year. Your support means the world to me… Thank you!
I'd like to inform you that this week's report will be a bit more concise than usual due to limited time availability. Rest assured, it will still contain key insights and essential updates.
Thank you for your understanding and continuous support!
Thanks, Alex ✌️
Tonight’s daily report content
PrimeTrading Market Model #PTMM + Takeaways
General Market Analysis: NASDAQ - S&P 500 - RUSSEL 2K - OTHERS, including my daily levels & my bullish and bearish scenarios
Market Internals
Sectors & Themes Analysis
Daily Focuslist including setups, alert levels & explanation (long & short)
Leaders list + Scans (technicals, fundamentals & potential TMLs)
My Portfolio Update
Economic Calendar
PrimeTrading Market Model #PTMM + Takeaways
PTMM is on a GREEN market signal (🟩)
Key Takeaways:
GDB closed at -88
Price rounding/sideways
Daily momentum is still drying up and almost null. We are getting into year-end, and this dry-up might be expected for holiday trading, but it’s still concerning if we can’t see momentum picking up next week.
The power trend continues, but we see signs of exhaustion. Is this only due to year-end low-volume trading, or is the market running out of steam? We’ll see soon enough!
The market is very extended & overbought; we see momentum dying and almost non-existent in the last 2 days, which is concerning if we can’t see a pick-up soon. I also have mixed feedback in recent trades & runners, which is always a red flag that puts me on the defensive.
The market remains above all kma’s, so I’m open-minded and see a PB as an opportunity. A flush or PB would probably be the ideal scenario to see better follow-through & momentum out of these setups.
I think it’s safe to be cautious up here, especially for tomorrow's last day of the trading year!
System Action/Rules:
LONG exposure allowed
FULL positions (20%)
Trimming 1/3 at 2R & 5R
Keeping 1/3 as a runner position
PF exposure max = 100% or margin
New open risk (NOR) > - 1%
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