Alex's daily Market update & Focuslist - 05/07
Reversal and impressive breadth thrust on Friday... can it follow through in the next few days?
Good evening guys!
I hope you had a fantastic weekend! Let’s get ready for the week ahead.
Alex ✌️
PrimeTrading is an equity swing trading community based on DISCORD to learn & trade alongside experienced traders.
✅ See how I execute intraday while I share my trades live.
✅ Alex's daily market commentary, Portfolio updates, trade explanations, and daily FocusList.
✅ Share & Discuss potential trade ideas with an amazing like-minded community
✅ Talk Macro Economy, Cryptocurrencies & much more!
✅ Talk about mental game & psychology to evolve as a trader!
✅ Education & mentoring from Alex & experienced traders.
✅ Q&A meetings & LIVE sessions
Improve as a trader with a risk management first approach while working directly with me intraday.
Alex 🛡️✌️
GENERAL MARKET ANALYSIS
NASDAQ (NQ_F) Daily
Price Action Analysis:
NQ bounced hard on Friday as we reclaimed the 10/21c, channel DTL and 13311$ last few weeks’ range level.
This is impressive, but we’ll have to see if we can follow through on this bounce. If we can, then we might have a chance of a technical rally to at least the 13583 or 13729$ area, IMO.
RUSSELL 2K growth (IWO) Daily
Price Action Analysis:
IWO gapped up too and rallied above the 10/21c and 224.45$ level. We are still below the recent DTL and 72/89c. We’re lagging behind NQ/ES, but this is still constructive action, especially if we can push above the recent gap area and 228.49$ level to confirm the range breakout.
S&P500 (ES_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)
Keep reading with a 7-day free trial
Subscribe to PrimeTrading to keep reading this post and get 7 days of free access to the full post archives.