Alex's daily Market update & Focuslist - 12/19
Small-cap are back to the party after a 2 day digestion
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Tonight’s daily report content
PrimeTrading Market Model #PTMM
General Market Analysis: NASDAQ - S&P 500 - RUSSEL 2K - OTHERS, including my daily levels & my bullish and bearish scenarios
Market Internals
Sectors & Themes Analysis
Daily Focuslist including setups, alert levels & explanation (long & short)
Leaders list + Scans (technicals, fundamentals & potential TMLs)
My Portfolio Update
Economic Calendar
PrimeTrading Market Model #PTMM
PTMM switched on a GREEN market signal (🟩)
Key Takeaways:
GDB closed at +800, and we see NNH expanding again, with momentum returning after two contracting days.
NNH expending (expansion)
Momentum coming back (expansion)
Price > 10.27% from 50dma. Very extended.
We’re in that power trend, slow grinding state above all kma’s.
After two days of digestion, the market expanded today with a strong breadth thrust, with both mega-caps and the rest of the market coming back to the party. Based on the potential continuation started today, I think the market can have more upside from here.
This market is robust, the strongest we’ve seen since 2020 regarding breadth expansion and extension level.
I don’t know what will happen in the next few days. All I know is the trend is up & strong, above all, despite being extended and overbought.
As always, we’ll take it daily by keeping risk tight.
System Action/Rules:
LONG exposure allowed
FULL positions (20%)
Trimming 1/3 at 2R & 5R
Keeping 1/3 as a runner position
PF exposure max = 100% or margin
New open risk (NOR) > - 1%
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