Alex's daily Market update & Focuslist - 04/18
Market still in range, but showing constructive action again.
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GENERAL MARKET ANALYSIS
NASDAQ (NQ_F) Daily
Sentiment/Positioning:
Price Action Analysis:
NQ tried to breakout of the current range area but quickly faded and traded around the 10dma almost all day before closing almost flat for the day. Overall, a false breakout, but today proved again that the bears were not able to push further down, so this is still constructive action, IMO.
This action looks constructive as we digest the recent move higher and still hold the 10/21c.
We need to push above the 13230$ ish pivot & then the 13331$ level to confirm continuation.
NQ_F is above all kma’s - uptrend.
On the upside (bullish scenario),
The 13331$ previous swing high pivot will be the level to watch to confirm an upside continuation.
On the downside (bearish scenario),
12949$ level & 21dma has to hold.
S&P500 (ES_F) Daily
Sentiment/Positioning:
RUSSELL 2K (RTY_F) Daily
Sentiment/Positioning:
LIQUID LEADERS (PRICE ACTION ANALYSIS)
Mixed action in the mega-caps today.
MSFT -Daily
It gapped up but quickly faded back to retest the 10dma & recent range area. The volume was relatively low so that it could be a retest of the area and continuation higher tomorrow. If we follow through down, a retest 283.33$ level is possible.
AAPL -Daily
Gapped and held it, but rejected at the base 166.84$ level. This is small rejection, so let’s see if tomorrow we can re-attempt to breakout.
NVDA - Daily
Gapped up on a news but failed to breakout & follow through above the 275.89$ level & DTL. We still held the base level, so this could be a quick intraday retest, and we’ll continue higher tomorrow.
META - Daily
Working on a base-level retest. I’ll be looking at that mini-channel & base level breakout for an upside continuation.
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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