Alex's daily Market update & Focuslist - 04/30
The indices pushing higher again, led by mega-caps into FOMC week! Buckle up again.
I hope you guys had a fantastic weekend.
Let’s get ready for a packed FOMC week!
Alex ✌️
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GENERAL MARKET ANALYSIS
NASDAQ (NQ_F) Daily
Price Action Analysis:
NQ followed through Friday as it pushed above the 13247 & 13311$ levels. That confirmed the last few week’s range breakout.
We are to new highs and above all kma’s - the uptrend is strong.
The next potential resistance area will be around 13583$, a 1.91% move higher.
It would be OK if we came back inside the range, but I would like to see the 10/21c & 10082$ level hold on a PB.
RUSSELL 2K growth (IWO) Daily
Price Action Analysis:
We followed through on the UTL & 219.38$ level, pushing close to 1% on Friday. We have retested the 224.45$ and 21dma but could not push above.
So for me, I want to see a push above that 224.45$ and 21dma this week to engage back in this market.
Ultimately, we’ll have to reclaim the 228.49$ level to confirm a continuation higher.
Breadth:
IWSI (MCSI) decelerated but was not able to flip positive like NYSI
IWHL turned up
We had two good breadth push Thursday & Friday
25%+ ratio > 1
The 5-day ratio pushes higher after two strong days but remains <1.
Bottom line: The last two days were constructive action, but we need more to confirm a playable rally.
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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