Alex's DAILY Market update & Focuslist - 04/16
The market is getting very short-term oversold - Will we see a bounce soon?
Good evening,
Enjoy tonight’s report!
Alex ✌️
Tonight’s 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
Focuslist including setups, alert levels & explanation (long & short)
Leaders list + Scans (technicals, fundamentals & potential TMLs)
My Portfolio Update
Economic Calendar
PrimeTrading Market Model #PTMM
We have had four heavy selling days in the last 5, and ST_momo shows extreme oversold conditions.
Like last night, I think a bounce might happen very soon, but keep in mind that the trend will remain down, and the reaction to that bounce into overhead resistance will be critical to assess the nature of that pullback.
I am still amazed to see how the leading names are making potential higher lows and getting tight above kma’s while the market was selling off hard. On top of that, I get some setups triggering new highs in the focuslist, so this is some weight of evidence on the potential character of that pullback.
One day at a time.
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