Alex's daily Market update & Focuslist - 04/13
Expectation breaker!
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GENERAL MARKET ANALYSIS
NASDAQ (NQ_F) Daily
Sentiment/Positioning:
Price Action Analysis:
NQ & the market as a whole was not looking good last night, but the 21dma & the base area support were held, and we rallied hard following the PPI report this morning. We saw a very strong & sustained uptrend all day that led to the channel DTL breakout we have been watching closely in the last few days.
This was very constructive action today on the indices and likely an uptrend continuation with that reversal today.
We can also notice the pretty deep short positioning from large speculators on NDX, while small speculators were net long for the first time in a while as of next week. S&P500 positioning is the largest net short since 2011, so this is really to take into account when we see the market not being able to crack down. Is there fuel left on the short side? #contrarian view
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)
The mega-caps bounced hard on volume today and lifted the indices & the whole market. This is VERY constructive action and an indication of potential upside continuation based on today’s action.
MSFT -Daily
283.33$ base level bounce today as we broke out of the channel and the 289.77$ recent swing high pivot. This is a big reversal, very constructive.
AAPL -Daily
What a candle…! Expectation breaker as we gapped above yesterday’s open and closed above all kma’s in a 3.41% range on above average volume.
NVDA - Daily
Still the weakest of the MEGA as we could not bounce from the 21dma & 263.99$ base level today like the others. Maybe it will catch up tomorrow. Let’s see.
META - Daily
Base breakout to new high, leading.
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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