Alex's daily Market update & Focuslist - 05/17
Impressive action. Now the big question…, can we follow through this time?
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 pushed to new highs today, with a 13583$ breakout. uptrend continues
We remain in an uptrend, above all kma’s.
13583729$ in the next potential resistance level I’ll watch. On the downside, we want to see that 10/21c and base area holding for this uptrend to remain.
RUSSELL 2K growth (IWO) Daily
Price Action Analysis:
The best-looking chart for us is IWO which bounced hard from the range area and DTL, as we are now at the HIGHEST close since April 24th.
Volume is also above average, so this COULD be a rally day #1 if we follow through and start trending higher.
I still want to see a 228.49$ range breakout to confirm that new uptrend.
S&P500 (ES_F) Daily
Price Action Analysis:
The recent range breakout today is a big deal, especially if we follow through.
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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