Alex's DAILY Market update & Focuslist - 03/27
Just when we think the market might roll, it puts an impressive breadth thrust day to a new ATH.
Good evening!
Enjoy tonight’s daily edition.
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Tonight’s daily report content
PrimeTrading Market Model #PTMM + Takeaways
General Market Analysis: NASDAQ - S&P 500 - RUSSEL 2K - OTHERS, including my daily levels & my bullish and bearish scenarios
Market Internals
Sectors & Themes Analysis
Focuslist including setups, alert levels & explanation (long & short)
Leaders list + Scans (technicals, fundamentals & potential TMLs)
My Portfolio Update
Economic Calendar
PrimeTrading Market Model #PTMM
Well, just when we think the market might roll, it puts an impressive breadth thrust day to a new ATH.
Today's action confirms the UPTREND signal. Price-Breadth-Momentum is now back in line, with momentum and breadth returning after diverging with price for the past few days and weeks.
Price to ATH
GDB @ 775. (breadth thrust)
Upside momentum hook-up
MCSI back uptrend
MT_momo is above LT_momo, which signals a good environment.
If last week's FOMC reversal was day #1 showing a +1000 reversal, then today, day #5, and GDB at 775 might actually have seen the FOLLOW-THROUGH DAY.
I turned pretty defensive last night due to the feedback I was feeling in my positions and focuslist, but with today's statement, the BROAD market is clearly very solid and healthy. The bad feedback might come from the choppy and digesting action in the technology sector I normally trade.
Our job is to go daily, set up by setup, and increase exposure progressively as we get traction and confirmation.
Tomorrow is also the last day of the week, so keep that in mind with exposure to a long weekend and the PCE (inflation) report on Friday morning.
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