Alex's daily Market update & Focuslist - 05/04
Another day, another weak breadth!
Good evening guys!
The market can’t seem to decide on a side, but the internals continue to weaken today.
Alex ✌️
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GENERAL MARKET ANALYSIS
NASDAQ (NQ_F) Daily
Price Action Analysis:
NQ tried to rally with a 10/21c & 13082$ reclaim, but we quickly faded the move. The market didn’t want to break lower but could not rally either, as we traded around these levels all day.
We are still in that 12949$/13311$ range, and we’ll see choppy action until we break from either side.
RUSSELL 2K growth (IWO) Daily
Price Action Analysis:
IWO opened very weak and tried to breakdown below the 219.38$ level but got supported pretty much all day.
Tomorrow will be pivotal. Do we break, or do we bounce at that critical level?
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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