Alex's daily Market update & Focuslist - 01/29
Big week ahead of us. Mega-caps earnings & FOMC!
Good evening! If you like the PrimeTrading newsletter, please consider taking a few seconds to help make these articles possible and support my work… THANKS!
Leave a like on this post.
Share this post on Twitter.
Alex ✌️🙏
GENERAL MARKET ANALYSIS
S&P500 (ES_F) Daily
Price Action Analysis:
ES_F followed through Friday, and we made a higher high and close ABOVE 4082$ very important structure level. That’s the level that was rejected last Nov/Dec, so clearing this level would be pretty significant.
So far, the trend is very strong, but that will be interesting to see how we handle that 4082$ level early this week.
We also have a very big week with FOMC and a lot of mega-cap earnings due later this week. So things can change VERY QUICKLY.
Always keep an open mind on both possible scenarios (bull/bear). It's a big part of my success.
On the upside,
4082$ on ES_F will be a big potential resistance level to watch tomorrow. (I’ll keep it as potential resistance because we gapped below the level on the futures open) 4137$ will be the next to watch if we can reclaim that level.
On the downside,
I would like to see the market holding the 10dma and the 4056$ for a minimal pullback in this strong market.
NASDAQ (NQ_F) Daily
RUSSELL 2K (RTY_F) Daily
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)
Keep reading with a 7-day free trial
Subscribe to PrimeTrading to keep reading this post and get 7 days of free access to the full post archives.