Alex's daily Market update & Focuslist report - 11/30
Mega-caps & riskier-assets pulling back, while we see healthy rotation into more defensive sectors. Overall, great support.
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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
Prime Model spreadsheet (PT_database)
PrimeTrading Market Model #PTMM
PTMM remains on a YELLOW market signal (🟨)
Key Takeaways:
GDB closed positive at +81, while Tech & mega-caps saw rotation into more defensive sectors.
Price following through on that rising wedge breakout
Overall flat day, but seen as positive with ES/NQ action
Still very low momentum, so hard to get traction here. I want to see 30-50 or even 100 stocks moving more than 4%…that’s when we’ll confirm the turn. (GDB > 400 too)
This market is very strong, proved again today as instead of wide distribution, we saw healthy rotation out of mega-caps & tech & high shorted stocks into more defensive & beaten sectors.
The market is still extended & overbought, so I remain cautious overall, but seeing the market being supported like that, with potentially regime changes on VIX and Credit Spreads while seeing how indices closed on Montlhy charts give me confidence in the intermediate market health and opportunity ahead.
System Action/Rules:
New LONG exposure allowed
1/2 positions only (10%)
Trimming 1/3 at 2R & 3R
Keeping 1/3 as a runner position
PF exposure max = 50%
New open risk > - 0.50%
Alex's gameplan:
The market was supported way better than I anticipated, so I decided to re-open some closed runners.
I am still not sure if the market is ready to go and get good momentum.
PTMM still shows great & strong action above all kma’s, so I’m leaning toward seeing these pullbacks as opportunities in which I want to participate.
Like always, one position at a time, while controlling my open risk.
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