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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 ($NQ) Daily
The downtrend continued today as we’ve closed at a new low, below the 10890$ last week’s low pivot. Volume is also picking up, so we are getting in a dangerous situation with Inflation (PPI/CPI) reports tomorrow & Thursday that could fuel this move down. If the reports show that inflation is still high, this market could really sell off very hard with a VIX already very elevated @ 33.6.
On the other hand, if these reports show less than expected inflation, we are at a very interesting spot for a U&R setup. I’m always open to both scenarios (IF/THEN) and plan accordingly.
We are below all kma’s - defense
$NQ levels on the upside
10890$ level (last week’s low)
11068$ level (June low)
11229$ level (recent swing low)
11285$ level
the 5dma
$NQ levels on the downside
10845$ level (2020 structure)
10656$ level (2020 structure)
10358$ level (2020 structure)
S&P500 ($ES) Daily
$ES levels on the upside
3639$ last week swing low pivot
3735/3780$ area
the 5dma
$ES levels on the downside
3596$ 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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