Alex's WEEKLY Market update & Focuslist - 04/14
Last Friday’s action was ugly and a big expectation breaker after Thursday’s constructive action.
Good evening!
Enjoy tonight’s WEEKLY edition.
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
Last Friday’s action was ugly and a big expectation breaker after Thursday’s constructive action. We lost the 50dma and showed a record breadth reading of -820, the highest reading since I started tracking.
This can mean two things:
Either an ST capitulation action or
A decisive market break will lead to more extended selling from here.
The last time PTMM flashed a strong -800 signal (the other time in the previous year) was April 25th, 2023. From that point, a 25% rally followed, which was the shakeout that fueled it—ST capitulation. I am not saying it will happen, but I need to keep an open mind to that possibility and not be too bearish.
So, if we can’t confirm that scenario from here, we’ll have to be patient for a pullback/correction to play out as we’ll start trending below kma’s.
The LT indicators are all still in green, telling us that the larger trend is still up and very well in place. Until this changes, these pullbacks are normal & healthy.
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