Alex's daily Market update & Focuslist - 05/15
Strong breadth thrust to start the week, can we follow through?
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 finally found support at 13361$ last Thursday’s low pivot and confirmed yet another BORS setup off the base area. We did not make a new high as we’re still inside Friday’s range, so a new high tomorrow would be a good confirmation.
We remain in an uptrend, above all kma’s.
13583$ 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:
IWO bounced from kma's & DTL today, and we reclaimed the 224.45$ level and sit right into the recent range area that we've been rejected a couple of times lately. This is a good start to the week, but volume was quite low on that bounce today, and seeing a follow-through tomorrow will be ESSENTIAL. This is only day 1 of a reversal attempt, and still in that chop & range area.
Which side will it be…? Only time and price will tell. We’ll have to see if we break above 228.49$ or below 219.38$ for the direction confirmation.
S&P500 (ES_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
✅ 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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