Alex's daily Market update & Focuslist - 05/14
Negative breadth continued last Friday as the market remains at pivotal levels.
Good evening guys,
I hope you had a fantastic weekend and recharged that MC. Let’s get ready for this week!
Alex ✌️
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GENERAL MARKET ANALYSIS
NASDAQ (NQ_F) Daily
Price Action Analysis:
NQ was weak last Friday as we trended down all day to retest the base area. We got an EOD bounce to close back above Friday’s low pivot.
I’ll watch closely early this week to see if we can follow through on that EOD bounce.
We bounced and found support where we had Friday, so we remain in an uptrend, above all kma’s.
13583$ in the next potential resistance level I’ll watch. On the downside, we want to see that 10/21c and base area holding for this uptrend to remain.
RUSSELL 2K growth (IWO) Daily
Price Action Analysis:
IWO is back below all kma’s and retesting the bottom of the recent tight range. We are squeezed on the right side, and the start of a sustained move seems to be pointing soon.
Which side will it be…? Only time and price will tell. We’ll have to see if we break above 228.49$ or below 219.38$ for the direction confirmation.
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)
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