Market update & Focuslist - 07/01

Market Under Pressure: Signs of a Potential Downtrend

Good evening,

This week will be shorter, with July’s 4th market Holiday and summer upon us. So, there will be a daily report tomorrow night (07/02), but the next one will be next Sunday for the next week ahead (07/07).

I hope everyone enjoys the summer period. :)

Alex ✌️

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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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• Alex's daily market commentary, Portfolio updates, trade explanations, and daily FocusList.

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GENERAL MARKET ANALYSIS

Market Model #PTMM

Overall, today was a bad day in the broad market, with prices breaking down and all moving averages being rejected. We're still in last month's range, but if we follow through on that break in the next few days, this market could risk starting a downtrend.

• MCSI hooked back down below the 10dma

• Price rejection at kma's retest and the last 3 days are potential bear flags.

• Downside momentum accelerates

• NNH weakening

• Materials & Utilities Oversold

Action in PF, weighted indices, and leading stocks remain constructive, but under the hood, this market is weakening quickly. If we continue on that rejection and my positions start to show more weakness, we'll have to step on the sidelines quickly.