Alex's daily Market update & Focuslist report - 07/31
Solid follow-through action to open the week
PLEASE NOTE:
From August 13 to 18, there will be no daily reports as I will be on vacation without internet access.
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GENERAL MARKET ANALYSIS
NASDAQ (NQ_F) Daily
Price Action Analysis:
NQ is still in a solid uptrend after a 15475$ base retest & bounce last week. I’ll be watching 15904$ recent swing high pivot for a daily breakout, then 16062$ for a continuation breakout to a new high.
On the downside, I want to see that 15475$ base area & 10wma hold on the weekly.
RUSSELL 2K (RTY_F) Daily
RTY close above 2007$ to confirm the upside continuation. (good!)
S&P500 (ES_F) Daily
ES close above 4609$ to confirm the upside continuation. (good!)
PT MARKET MODEL (PTMM) & INTERNALS
PTMM on a FULL GREEN market signal (🟩)
Price closed UP (+1.17%), and we closed at a new HIGH.
Breadth was UP and showing big follow-through strength. (+478)
U/D volume at 2.42 (good for a follow-through)
MSCI UPTREND + ABOVE 10dma (new high)
Daily MOMENTUM was UP & strong (15.8)
NNH at +42 (+6.3%) & PTHL is back in an uptrend and a new high.
6.67% > 50dma. (extended)
BOTTOMLINE: Solid follow-through after Friday's reversal & breadth thrust. The kind of action we want to see in a strong uptrend, especially after a Monday gap-up opens and fades. The market is full green, and momentum is HIGH and climbing.
Focus on your stocks and keep the market on the back of your head until we get a red flag.
Internals
MMTW (Stocks > 20dma - ST market extension)
Strong bounce today as we’re heading back to the overbought area.
MMFI (Stocks > 50dma - MT market extension)
Bounced nicely and continue trending.
Still in that tight range & below all kma’s.
MOVE (Merrill Lynch Option Volatility Estimate - Bond market volatility)
Reclaimed 10dma.
10Y Bond Yields (daily)
Tight channel as we retest the 10/21dma.
below all kma’s.
BTC/USD (Bitcoin)
We are sitting at the 10wma and approaching the 28478$ structure as potential support.
In the following sections of tonight’s letter, I’ll cover essential parts of my daily routine & preparation for tomorrow’s trading session.
Make sure to subscribe and support my work if you’re interested!
✅ My overall current market Takeaways & GAMEPLAN for tomorrow
✅ My daily & weekly Focuslist (POSITION+SWING), including setups, alert levels & explanation
✅ My Portfolio update
✅ Sectors Review
✅ Economic Calendar
✅ Prime Model spreadsheet (PT_database)
✅ Leaders list (technicals, fundamentals & potential TMLs)
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