Alex's daily Market update & Focuslist - 05/21
The market taking a well deserved pause on Friday after being ST extended
Good evening guys,
I hope you had an amazing weekend and could recharge that Mental Capital for the week ahead!
Alex ✌️
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Alex 🛡️✌️
GENERAL MARKET ANALYSIS
NASDAQ (NQ_F) Daily
Price Action Analysis:
NQ paused on Friday after being more than 7% above the 50dma. We were ST extended, and it’s only normal & healthy to see some consolidation until we see kma’s catch up a bit.
We remain in an uptrend, above all kma’s.
RUSSELL 2K growth (IWO) Daily
Price Action Analysis:
IWO gapped above the 228.45$ level and out of the range area but could not hold that gap and faded back inside that range.
We are still above all kma’s, so we’ll have to see early this week if it was a false breakout or if we need a 2nd attempt to breakout higher.
S&P500 (ES_F) Daily
Price Action Analysis:
Rejected at the 4200$ first breakout attempt, let’s see if we reclaim it or follow through down.
In the following sections of tonight’s letter, I’ll cover essential parts of my daily routine & preparation for tomorrow’s trading session.
✅ PrimeTrading UniverseList BREADTH
✅ 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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