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What we’ll cover in the Newsletter tonight:
General market analysis ($NQ/$ES levels)
Market Breadth & Internals
Prime Model spreadsheet (PT_database)
Economic Calendar
Sectors Review
Leaders list
Alex’s Portfolio update
Focuslist including setups, alert levels & explanation
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GENERAL MARKET ANALYSIS ($NQ/$ES levels)
NASDAQ ($NQ) Daily
Well, what a day…!
The market reacted to the #CPI data with an almost 4% move down, until the market opened and this market was bought up pretty aggressively to finally closed the day at +2.25%. This is a pretty powerful false breakdown at a key level, and on volume.
This is only one day, but this is the kind of action on volume we want to see. The fact that the move came on a worst-than-expected CPI also is a clear change of character. So we’ll take it step by step & level by level as always, but this is very constructive IMO.
Tomorrow we want to hold the 10890$ level at least if we are to pullback and retest some lower levels, otherwise on the upside, I want to see a close above the 10dma and a close above 11285$ would be very bullish as a reclaim of the recent base area.
$NQ levels on the upside
11229$ level (recent swing low)
11285$ level
11534$ level
the 10dma
$NQ levels on the downside
10890/11068$ area
10845$ level (2020 structure)
10656$ level (2020 structure)
10358$ level (2020 structure)
S&P500 ($ES) Daily
$ES levels on the upside
3735/3780$ area
3855/3903$ area
the 21dma
$ES levels on the downside
3639$ last week swing low pivot
3596$ level (2020 structure)
3509$ level (2020 structure)
This was a FREE preview of my daily Market update & Focuslist letter. In the following sections, I’ll cover important parts of my daily routine & preparation for tomorrow’s trading day that you don’t want to miss!
Market breadth & Internals (risk model)
PRIME Model spreadsheet (PT_database)
Economic Calendar
Sectors Review
Leaders list
Alex’s Portfolio update
Focuslist including setups, alert levels & explanation
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