Alex's daily Market update & Focuslist - 03/14
The broad market cracks while money rotates into Mega-Caps once again.
Good evening!
Enjoy tonight’s daily edition.
Back to White charts - I hope your eyes will appreciate :)
Alex ✌️
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
Today, it showed distribution characteristics for the broad market and another severe warning shot.... and PULLBACK is on.
MCSI hook-down while showing a negative divergence. Lower high than Dec. 2023, while the price is higher.
ST_momentum is breaking down from the recent slump. It's not good to see this while the price was at ATH. Normally, we see these oversold while the price is oversold as well.
MT_momo turns negative.
price -1.54% with an undercut & reclaim the 21dma today. Will it be held tomorrow?
NNH is close to turning negative.
It was a bad day, with breadth breaking down and PTMM showing the underneath broad market action masked by mega-caps in the major indices (QQQ/SPY).
CAUTION IS NEEDED HERE
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