Alex's DAILY Market update & Focuslist - 04/09
Let’s get ready for the CPI inflation report!
Good evening!
Enjoy tonight’s DAILY edition.
Alex ✌️
Tonight’s report content
PrimeTrading Market Model #PTMM + Takeaways
General Market Analysis: NASDAQ - S&P 500 - RUSSEL 2K - OTHERS, including my daily levels & my bullish and bearish scenarios
Market Internals
Sectors & Themes Analysis
Focuslist including setups, alert levels & explanation (long & short)
Leaders list + Scans (technicals, fundamentals & potential TMLs)
My Portfolio Update
Economic Calendar
PrimeTrading Market Model #PTMM
Another light green day for the broad market, the third one.
We closed the day with another follow-through off the 21dma bounce, with momentum accelerating again today.
I like to see MCSI and the upside_momo line trying to curl back up before CPI, but this market can swing both ways tomorrow.
With the Energy/Metals/Commodities trade being extended from the last few days/weeks, I think if the CPI reaction is good, we might see a rotation back into the technology sector, shown by multi-week consolidation and digestion in SMH, IGV, AIQ, SKYY, etc. But only if these bases were not distributed and, in fact, digestion was a continuation pattern.
We'll see tomorrow!
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