Alex's daily Market update & Focuslist - 05/24
Pullback continues as NVDA reports killer earnings that ingite the futures market.
Good evening guys,
Let’s get ready for tomorrow!
Alex ✌️
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GENERAL MARKET ANALYSIS
NASDAQ (NQ_F) Daily
Price Action Analysis:
NQ pulled back further today, as we lost the 13729$ level and undercut the 10dma before finding support at 13583$ this afternoon. We finally closed right at the 10dma.
Then came the NVDA earnings report after hours (+28% ish), which ignited the whole AI sector’s stocks along the Nasdaq futures. So keep in mind that this huge gap back above all kma’s and key levels tonight is due to NVDA ER.
Tomorrow, we’ll want to see that gap HOLD, and a 13960$ reclaim and breakout would be very constructive.
We remain in an uptrend, above all kma’s.
RUSSELL 2K growth (IWO) Daily
Price Action Analysis:
IWO followed through on yesterday’s failed breakout. We found support at the 224.45$ level, reclaimed the 21dma but not the 10d. I’ll watch if we can bounce from that 10/21c tomorrow.
S&P500 (ES_F) Daily
Price Action Analysis:
Significant 4200$ level rejection follow-through as we lost the base area and the 10/21c today. We gapped due to NVDA ER, too, so let’s see if we can reclaim those levels tomorrow.
In the following sections of tonight’s letter, I’ll cover essential parts of my daily routine & preparation for tomorrow’s trading session.
✅ PrimeTrading UniverseList BREADTH
✅ 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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