Alex's daily Market update & Focuslist - 02/28
Market seems nervous before PCE inflation data tomorrow. Is it justified...we'll see at 8:30 est!
Good evening!
See PTMM’s section for my thoughts.
Cheers & have a good week!
Alex ✌️
Tonight’s daily report content
PrimeTrading Market Model #PTMM + Takeaways
General Market Analysis: NASDAQ - S&P 500 - RUSSEL 2K - OTHERS, including my daily levels & my bullish and bearish scenarios
Market Internals
Sectors & Themes Analysis
Daily Focuslist including setups, alert levels & explanation (long & short)
Leaders list + Scans (technicals, fundamentals & potential TMLs)
My Portfolio Update
Economic Calendar
PrimeTrading Market Model #PTMM
Seemed like a pause/chop day with some weakness before PCE. Market seemed nervous after last CPI report it seems. It is justified? We'll know tomorrow.
the 5/10-day ratios remain very muted since the start of 2024, showing a pretty choppy and short window of opportunities market.
I'll watch closely the MT & LT momentum ratios from here as they starts to build lower highs and might be a divergence to look at.
Price still well above all kma's. The trend is well in place.
MCSI paused a bit today, but no hook down.
The trend remains up, but very choppy as we see by the 5/10-day ratios and the feedback I get in my recent trading. Base hits but few real multi-weeks runners working. It's ok as we take trims and work our EC even with this market, but it would be nice to have a real momentum thrust and multi-weeks solid trend. Maybe we need some kind of pullback to reset, or maybe we'll just go from here...but no matter what, we'll follow our setups & listen to our trading feedback.
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