Alex's daily Market update & Focuslist - 01/05
The market can't get more squeezed...! We'll break, one side or the other.
Good evening folks!
Sorry if the letter is a bit late tonight…but it was not easy to focus, as we won the #WoldJuniors championship!! 🥇🍁 🥳
Let’s get ready for tomorrow!
Alex ✌️
GENERAL MARKET ANALYSIS
S&P500 (ES_F) Daily
Price Action Analysis:
ES_F tried to open above the DTL & 10dma again but quickly rejected it to close below the 3855$ level and just above the UTL we tested a couple of times today.
It’s now the 6th 10dma rejection within that range area… This market will break meaningfully as we can’t squeeze more than that.
Tomorrow morning at 8:30, we have important job data releases. This could be the catalyst needed.
We are still IN THE RANGE BOX, below ALL KMA’S and in a downtrend, so be careful on the long side.
Again, we CONTINUED to see constructive underneath breadth action and conflicting signals that I detail in my Takeaways. Make sure to check them out!
On the upside,
3855$ & the 10dma would be two significant levels to watch tomorrow.
To allow me to look for any long exposure in this market, it will take a close above the 21dma anyway.
On the downside,
The current wedge UTL and the 3803$ range bottom level.
NASDAQ (NQ_F) Daily
RUSSELL 2K (RTY_F) Daily
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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