Alex's daily Market update & Focuslist - 01/04
The market is still stuck in RANGE...again
Good evening folks!
Let’s get ready for tomorrow!
Alex ✌️
GENERAL MARKET ANALYSIS
S&P500 (ES_F) Daily
Price Action Analysis:
I don’t want to sound repetitive, but we are still in that range box, so the analysis from last Thursday remains true for tonight as well… 👇
Ok…this market is clearly in a choppy & volatile range area. We can’t follow through on either side for the last seven days and reverse each breakout attempt.
I drew a range box (orange on the ES chart - 3803/3918$) that will be the top/bottom levels to watch in the next few days. Until we break from either side, I expect more chop and a directionless market.
If you decide to play this market, you ask for trouble of being stopped out, long or short.
So that you can appreciate the length of that range & choppy market, here is the 65m chart of ES_F.
We are still IN THE RANGE BOX, below ALL KMA’S and in a downtrend, so be careful on the long side until we confirm an actual trend change, with AT LEAST a higher low on /ES.
That said, we CONTINUED to see constructive underneath breadth action and conflicting signals that I detail in my Takeaways. Make sure to check them out!
On the upside,
3918$ top range box.
If we reclaim the 10dma & the current wedge DTL, it could be the first step for an upside reversal at these levels. (we kind of close right on it, but not clean enough)
To allow me to look for any long exposure in this market, it will take a close above the 21dma anyway.
On the downside,
3803$ bottom range box.
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
✅ 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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