Alex's daily Market update & Focuslist - 01/31

Tomorrow is FOMC! Buckle up

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GENERAL MARKET ANALYSIS

S&P500 (ES_F) Daily

Price Action Analysis:

Impressive how one day can change the look of a chart. ES_F found support where it had to last night. We retested the very important 4016$ level and a perfect retest of the bear market DTL. We saw a powerful & sustained move all day to reclaim 4056$ and close above 4082$. This is a very constructive action today.

Today we confirmed a structure higher low. The uptrend is still very well intact.

Tomorrow is FOMC, and this is a major event. Everything discussed tonight might not stand depending on the market reaction to the interest rate decision and the subsequent Jerome Powell speech.

On the upside,

If we get a positive reaction to FOMC tomorrow, the 4137/4212$ base area might be tested. +1.2% above. I will also watch closely the action around 4109$ last Friday’s high.

On the downside,

I will look at the 4016$ level and the 10 & 21dma for potential support tomorrow. If the market rolls over, then 3964$, and the 50dma is also within reach.

NASDAQ (NQ_F) Daily

RUSSELL 2K (RTY_F) Daily

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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

✅ PRIME_LIST (top 5 potential TML’s)

✅ 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)