Market update & Focuslist - 05/29
Evening Market Update & Strategic Insights
Good evening!
Thought of the day
A strong process keeps emotions out of the equation, keeping you grounded in the data.
Cheers, Alex! ✌️
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MARKET ANALYSIS
PRICE
The price didn’t break and remains above the rising 21-day moving average structure.
Futures show a different picture with a failed breakout pre-market, which faded before the open.
My head is at a continuation of that consolidation and potentially a higher low structure being made, or even a shakeout below the 21dma. It would give time for breadth to cool-off and get a proper market setup.
BREADTH
MCSI - Continues to trend below the now rounding 10-day moving average.
MCO - Pretty stable
%50dma - Still overbought and hook-down with a potential lower high beeing made.
That’s not the picture I want to see with MCSI trending down with a mid-term breadth ext. still overbought. That’s part of why I scaled down exposure today.
Breadth contracting.
TLMM DASHBOARD NASDAQ (MODEL: PULLBACK)
MARKET INTERNALS
Downtrend below 21dma structure.
Downtrend below 21dma structure.
10Y Bond Yields (TNX)
Right back into the 21dma-structure… potential breakdown or support?
/BTC (Bitcoin)
Not able to hold the short-term range, and retesting the 21dma. Could use a deeper pullback after the run it had… we’ll see.
Hey, tonight's report is packed!
Sector breakdowns, focus setups with alert levels, fresh scans, my latest portfolio moves, and a look at the week ahead.
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