Alex's daily Market update & Focuslist - 01/19
Market pulling back (day 3)
GENERAL MARKET ANALYSIS
S&P500 (ES_F) Daily
Price Action Analysis:
The pullback continues!
ES_F followed through on yesterday’s reversal & weakness and undercut below the 21dma.
We tried to find support in the 3898/3918$ area and almost turned green, but the sellers stepped in by the end of the day to push it back below the 3918$ level. Volume was not higher than yesterday, but still above average, which is not what we want to see.
We are on day 3 of this pullback and now back below all kma’s. Let’s see if this support area holds again tomorrow.
If we want that pullback to remain healthy, we’ll want to see the volume cooling off and the price holding the 3898/3918$ area.
On the upside,
3973$ & 3964$ levels will act as potential resistance on a retest.
All KMA’S are also potential resistance.
On the downside,
The 3898/3918$ area.
I will be watching at the 3855$ level if we can't hold there.
NASDAQ (NQ_F) Daily
RUSSELL 2K (RTY_F) Daily
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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