Alex's daily Market update & Focuslist - 02/14
This could have been one hell of a shakeout! Let's see if we get more confirmation, but the buyers really stepped in.
Good evening!
This could be one hell of a shakeout! Yesterday’s selling power really threw me on the defensive as a potential follow-through was definitely possible. But today, buyers stepped in aggressively and confirmed that the uptrend is very strong & defended.
Let's see if we get more confirmation, as many leading stocks, indices & sectors have not made a new higher high yet, but the hammer from KMA’s and key levels is a very constructive action. Now, we want to build on that and not make a lower-high rejection, which would be a red flag.
With today’s action, I will look back to increase exposure, but in a very controlled way as the volatility remains high and we still have the PPI report on Friday.
Good read & HAGN!
Alex ✌️
Tonight’s daily 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
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
Wow, what a day! The market was bought aggressively and it turns out yesterday could have been a pretty powerful shakeout. (remains to be confirmed if we can make a new high)
The last 3 days showed a distribution day sandwiched between 2 breadth thrusts...pretty unusual.
Price reclaimed all kma's, and the trend is still intact.
MCSI, PTHL, ST/MT/LT_momo are all hooked back up. (hard to follow the last few days)
MCSI showing tight action just below the 10dma. If it is green tomorrow, we should reclaim it and confirm a full GREEN signal.
We have a 5-day ratio hook-up from the < 1 level of yesterday. Not the type of volatile signal I normally want to see, but it is what it is. If we follow through on that tomorrow, I will look to engage back in the market. That said, I'm in no rush.
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