Alex's daily Market update & Focuslist report - 09/14
Finally, the market is showing some life!
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Alex ✌️
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GENERAL MARKET ANALYSIS
S&P500 (ES_F)
ES/ and the market found support and pushed out of recent consolidation as we reclaimed every key resistance level I highlighted last night.
This is very constructive action, and I’ll want to see a follow-through tomorrow to confirm the breakout.
I’ll watch these levels as potential resistance:
4590$
4609$ area
I’ll watch these levels as potential support in case of a backfill/retest:
4534$
Current pullback swingH_AVWAP
50dma
NASDAQ (NQ_F)
RUSSELL 2K (RTY_F)
PrimeTrading Market Model #PTMM
Finally, the rest of the market is showing some life!
That’s not the strongest reading, but we have a first step in the right direction that we can confirm with a follow-through tomorrow.
MCSI flipped back up already
Reclaimed 10dma today, just 0.4% below the 21/50dma for a potential reclaim tomorrow.
5d ratio is back > 1 with today’s 5.4 daily momentum, and 10d COULD flip soon with a follow-through.
Back on NNH
After seven weak days, we finally got our first positive day. One day is NOT a trend, especially with the Global daily Breadth <400….which is not a powerful breadth thrust.
We’ll have to monitor closely in the next few days to see if we can follow this action and build momentum.
PTMM is still at a RED market signal (🟥)
No new LONG exposure (short allowed)
Protect b/e
With LT indicators still in the green, that’s a situation where I might test the waters tomorrow if we get a strong follow-through.
Internals
MMTW (Stocks > 20dma - market extension)
Big bounce today; this is constructive.
MMFI (Stocks > 50dma - market extension)
This is very interesting... MMFI with an expectation breaker/shakeout today. So, a lot of names U&R the 50dma...
It's constructive and could fuel a move higher for sure.
It is retesting the base area and new 52w low close. If we break down from here, this is very constructive…but we must also keep an eye out for a bounce probability.
MOVE (Merrill Lynch Option Volatility Estimate - Bond market volatility)
New low… this is good.
10Y Bond Yields (daily)
Still building a tight area right below historical level.
New 52w low... this is very good.
BTC/USD (Bitcoin)
We remain in no man’s land… Watching the $ 26834$ pivot on BTC
In the following sections of tonight’s letter, I’ll cover essential parts of my daily routine & preparation for tomorrow’s trading session.
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✅ My overall current market Takeaways & GAMEPLAN for tomorrow
✅ My daily Focuslist, including setups, alert levels & explanation (LONG/SHORT)
✅ My Portfolio update
✅ Sectors Review
✅ Economic Calendar
✅ Prime Model spreadsheet (PT_database)
✅ Leaders list (technicals, fundamentals & potential TMLs)
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