Alex's WEEKLY Market update & Focuslist - 04/07
The market might setup a ST reaction bounce, but we remain at risk mid-term if we follow-through on last week's downside reversal in the broad market.
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
There was a weak bounce attempt at the 21dma last Friday. At least we didn't see a follow-through on powerful Thursday's sell-off.
Attempted 5-day ratio hook-up in OS area. This action usually leads to at least a ST bounce.
MT_momo continues to trend higher from early last week
Price still holds the 21dma, and the 21dma is trending nicely above the 50dma.
MCSI remains below the 10dma
PTHL is flattening, showed by NH/NL almost flat reading.
The market remains at a pivot spot, but with the 5-day ratio action, it could be possible to see a reaction bounce early this week in the market. Overall, we remain in a very mixed, thin & choppy market for the past few weeks...and it remains true here.
One day at a time.
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