Market update & Focuslist - 06/20
Broad Market Resilience Amid Tech Sell-off: What PTMM Reveals
Good evening,
Despite a sell-off in the tech sector, the broad market stayed green all day. The PrimeTrading Market Model (PTMM) indicates a potential rotation from Large/Mega-caps to the broader market, showing constructive action and improving momentum. However, caution is advised as the market direction remains uncertain with key insights expected post-options expiration (OPEX) tomorrow.
Enjoy today’s report.
Alex ✌️
Tonight’s report content
General Market Analysis
Sectors & Themes Analysis
Focuslist including setups, alert levels & explanation (long & short)
Scans (technicals, fundamentals & potential TMLs)
My Portfolio Update + bi-weekly full positions update
Economic & Earnings Calendar
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GENERAL MARKET ANALYSIS
Market Model #PTMM
Despite seeing selling in the tech sector, the broad market was green all day.
We were talking about it earlier this week. If we see that rotation out of Large/Mega-caps (mostly extended tech) and into the broad market....it will be critical to turn off the major indices like SPY/QQQ and based decision on RSP/QQQE instead, or even better on your stocks & setups.
I created PTMM precisely for that reason.
There is some really constructive action on PTMM, that gives me some confidence about that rotation happening....but keep in mind that we really don't know and the broad market could follow the large tech stocks down. Always keep in mind the worst scenario. always.
NNH still strong today, with cumulative still going up.
net advances pilling up, with now MCSI trying to hook up, and MCSO flat.
ST/MT breadth still hooked up from that recent potential higher low structure.
5&10-day ratios keep improving. (we are still in a positive momentum regime)
Tomorrow is OPEX, and we should definitely have more information about what this market wants to do from here.
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