Alex's daily Market update & Focuslist - 04/23
Massive earnings this week! Around 40%+ of the $SPX value reports, buckle up.
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GENERAL MARKET ANALYSIS
NASDAQ (NQ_F) Daily
Sentiment/Positioning:
Price Action Analysis:
NQ is still in that tight channel as we retested the 21dma and near the base area Friday before closing flat again.
That shakeout below the 13082$ & 21dma could help fuel an upside move, but we’ll have to see how we react to this crucial week in the market.
Around 40%+ of the $SPX value reports, so buckle up. With last week's sideways action, the market was waiting on the earnings of these mega-caps & important companies this week before picking a side. It then confirms that these earnings will have an importance on the market direction, IMO.
We know our levels, so let the market confirm the next move.
NQ_F is above the 21dma - uptrend.
On the upside (bullish scenario),
The 13331$ previous swing high pivot will be the level to watch to confirm an upside continuation.
The 13247$ level can even be used to anticipate a long entry before the 13311$ base level.
On the downside (bearish scenario),
12949$ level & 21dma has to hold.
The 13082$ can even be used to anticipate a short entry before the 12949$ level. (We closed right at that level and lacked confirmation to carry overnight)
S&P500 (ES_F) Daily
Sentiment/Positioning:
RUSSELL 2K (RTY_F) Daily
Sentiment/Positioning:
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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