Alex's daily Market update & Focuslist - 03/20
Thank you Jerome
Good evening!
Enjoy tonight’s daily edition.
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
Focuslist including setups, alert levels & explanation (long & short)
Leaders list + Scans (technicals, fundamentals & potential TMLs)
My Portfolio Update
Economic Calendar
PrimeTrading Market Model #PTMM
What a day! BREADTH THRUST! After a dull 2024 start, we saw the largest GDB reading of the year today, right on the FOMC catalyst. GDB at +1035.
GDB > 500 = Breadth Thrust
Price +1.61% and back at ATH.
MCSI bounced from 10dma
There is a strong jump in NNH, back above 10%
Strong daily_momo at 12% & 58x ratio
ST-to-LT_momo indicators showed a strong bounce from oversold/neutral levels today...could this finally be the start of some real momentum this year?
The model is back to the UPTREND signal.
Overall, this was a massive day right when we needed it. Let's see if we can follow through on it tomorrow and confirm the turn. If that's the case, we could really see a multi-week move, in my opinion.
But, like always, one day at a time.
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