Alex's daily Market update & Focuslist - 03/05
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Alex ✌️🙏
GENERAL MARKET ANALYSIS
S&P500 (ES_F) Daily
Price Action Analysis:
We got a very decisive follow through action on Friday. ES_F gained +1.63% in a sustained and strong intraday trend to close above ALL kma’s, the consolidation DTL, and the 4016$ key level.
The volume was not that high, but it’s not concerning me as we had IMPRESSIVE breadth supporting this move as we’ll see below. This was exactly what I wanted to see to confirm the reversal and potential ST bottom.
Where this market will go, that I don’t know, but what I know is that we confirmed the reversal, we have a wide participation and setups & breakout are working. That’s all I need to know to re-engage this market, then it will be one day at a time and we’ll look for price action red flags.
ST trend = up. (See Alex’s takeaways for explanation)
On the upside,
The 4056$ level might be the first potential resistance, but 4082$ will be more important and will be to watch closely if we reach that level in the next days.
On the downside,
Along the kma’s we now have as potential support, I want to see the 4016$ level to hold ideally.
NASDAQ (NQ_F) Daily
RUSSELL 2K (RTY_F) Daily
POTENTIAL SUPPORT/RESISTANCE LEVELS (ES/NQ/RTY)
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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