Alex's daily Market update & Focuslist - 03/12
A big week ahead! Enjoy!
Good evening!
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Alex ✌️🙏
GENERAL MARKET ANALYSIS
S&P500 (ES_F) Daily
Price Action Analysis:
ES_F closed at the 3898$ level Friday after a very wild day with big swings. We’ve retested and rejected the 3964$ level 2 times and it was rejected on both occasions.
Futures market just opendd with a 0.5% gap up and rallied more than 1.5% following the SVB & bank rescue news. We are still in a very volatile and news driven market. Keep in mind that we are still in a strong downtrend, below all kma’s and the market is now in ST oversold territory as you’ll see later in the letter.
So, level by level, but now all we know is we’re still below the 5dma.
On the upside,
I will be looking at the 3964/4016$ resistance area as place where the market could rally ST. If we do, I will be looking at signs of reversal for a potential downtrend resumption.
On the downside,
The 3898$ level might again act as potential support tomorrow. Also, Friday’s low will be a level to watch if we can’t hold that area.
NASDAQ (NQ_F) Daily
RUSSELL 2K (RTY_F) Daily
POTENTIAL SUPPORT/RESISTANCE LEVELS (ES/NQ)
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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