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What we’ll cover in the Newsletter tonight:
General market analysis ($NQ/$ES levels)
Market Breadth & Internals
Prime Model spreadsheet (PT_database)
Economic Calendar
Sectors Review
Leaders list
Alex’s Portfolio update
Focuslist including setups, alert levels & explanation
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GENERAL MARKET ANALYSIS ($NQ/$ES levels)
NASDAQ ($NQ) Weekly
NASDAQ ($NQ) Daily
Friday morning job data economic news came better than expected and the market clearly didn’t like that news as this is likely meaning that the FED won’t pivot any time soon with a strong job market.
We retested the 11534$ level, but quickly rejected it and undercut 11285 & 11229$ levels before closing almost at 11068$ which was the important June low level.
The market really needs to hold that level and also 10890$ which was the most recent low of last week. If we break below these levels, I really think that we can get into trouble and see a potential melt-down scenario considering the internals of this current market.
$NQ levels on the upside
11229$ level (recent swing low)
11285$ level
11534$ level (June structure)
the 5dma
$NQ levels on the downside
11068$ level (June low)
10890$ level (last week’s low)
10845$ level (2020 structure)
S&P500 ($ES) Weekly
S&P500 ($ES) Daily
$ES levels on the upside
3735/3780$ area
the 5dma
$ES levels on the downside
3639$ last week swing low pivot
3596$ level (2020 structure)
3509$ level (2020 structure)
This was a FREE preview of my daily Market update & Focuslist letter. In the following sections, I’ll cover important parts of my daily routine & preparation for tomorrow’s trading day that you don’t want to miss!
Market breadth & Internals (risk model)
PRIME Model spreadsheet (PT_database)
Economic Calendar
Sectors Review
Leaders list
Alex’s Portfolio update
Focuslist including setups, alert levels & explanation
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