Alex's daily Market update & Focuslist report - 11/14
GDB closed at +1810...the highest reading on record. What a breadth thrust it was...the market is making a statement!!! 🔥
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Thanks, Alex ✌️
The CPI report was the catalyst, and the market was only waiting for it to push from the lows and confirm the higher low setup we discussed in the last few days. We are back above the 50dma and the 10>21dma on the BROAD MARKET (PTMM/RTY/IWO)...not just on NQ/ES for once.
With today's move, we get the confirmation that the market rally is broadening out, but it does not mean we'll go straight up from here. So, we still have to manage risk tightly and expect a pullback as we get extended. That said, this is good to see after the last few months we've had.
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