Alex's daily Market update & Focuslist - 04/27
The indices bounced hard, mainly led by mega-caps as the breadth remained weak.
Well, what a day!
Enjoy this report, and I wish you a happy weekend!
Alex ✌️
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GENERAL MARKET ANALYSIS
NASDAQ (NQ_F) Daily
Price Action Analysis:
NQ rejected the base area vigorously today, fueled by META earnings last night. We broke out of the channel, reclaimed the 10/21c, and even retested the 13311$ range high level after-hours on AMZN earnings pop. (but fade)
This is a big bullish day, but as you’ll see later, mainly led by the mega-caps again. This is an excellent initial move. Let’s see if the rest of the market can catch up.
On the upside (bullish scenario),
We have to reclaim the 13331$ base level to confirm the breakout and continuation higher.
On the downside (bearish scenario),
12811$ level has to hold, but for this trend to remain healthy, we would have first to see the 10/21c and 13082$ hold on a retest.
S&P500 (ES_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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