Alex's daily Market update & Focuslist - 01/30
The market get rejected at key levels ahead of FOMC
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Alex ✌️🙏
GENERAL MARKET ANALYSIS
S&P500 (ES_F) Daily
Price Action Analysis:
ES_F and major indices found resistance and got rejected at the key levels/areas I highlighted last night.
We tried to reclaim the 4082$ level overnight but quickly got rejected and closed below 4056$ and just above the 10dma. Today's volume was also higher than average, which is a first red flag and puts weight on that rejection.
Tomorrow, we need to see if we can find support quickly or if we follow through further down. We are still above all kma’s, so the trend is still up, and we have to make a new lower low. The market structure remains intact, but you must respect such a volume reversal at a key resistance area.
Remember that we have a very big week with FOMC and a lot of mega-cap earnings due later this week. So things can change VERY QUICKLY.
Always keep an open mind on both possible scenarios (bull/bear). It's a big part of my success.
On the upside,
If we can reclaim the 4056$ or even 4082$ level tomorrow, that would put us in a way better position going into FOMC.
On the downside,
I will look at the 4016$ level and the 10 & 21dma for potential support tomorrow. If the market rolls over, then 3964$, and the 50dma is also within reach. (-1.6%)
NASDAQ (NQ_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
✅ PRIME_LIST (top 5 potential TML’s)
✅ 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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