Alex's daily Market update & Focuslist - 03/06
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GENERAL MARKET ANALYSIS
S&P500 (ES_F) Daily
Price Action Analysis:
Despite ES_F closing slightly green today, the breadth was not there, and it’s quite disappointing after Friday’s impressive thrust.
We started the day very strong, with a 4056$ breakout, but as we reached the 4082$ level, we tried two times to push above but failed and rolled over on the second rejection.
We are still above all kma’s, so the ST trend is still up. But a key-level rejection is certainly a warning flag.
Tomorrow at 10:00 EST, Jerome Powell is testifying before the Joint Economic Committee, which will move the market either way. So today’s action might have been only indecision before that event. We’ll see tomorrow.
On the upside,
The 4056$ level might be the first potential resistance, but 4082$ will be more important and will be to watch closely if we reach that level in the next few days.
On the downside,
Along with the kma’s we now have as potential support, I want to see the 4016$ level hold ideally.
NASDAQ (NQ_F) Daily
RUSSELL 2K (RTY_F) Daily
POTENTIAL SUPPORT/RESISTANCE LEVELS (ES/NQ/RTY)
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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