Welcome to another Daily Update & Focuslist!
Enjoy ! ✌️
Disclaimer: This newsletter is not financial or investing advice. The information is for education purposes only and reflects only my own operation.
Market REVIEW
This is exactly the scenario I hoped & waited for. Yesterday acted as a shakeout below 4387$ pivot and was the catalyst for the DTL breakout today.
Market closed above all kma’s but got hit A.H by Netflix earnings. I don’t think it will affect the current reversal and I’m expecting continuation tomorrow from that breakout.
To confirm the move, tomorrow I’d like to see a close above 4475$.
Breadth:
VIX still above 20 @ 21.37$ ( down 3.61%)
McClellan back in positive, going in the right direction
Both new 52w net H still negative, but that’s usually what we see on the first reversal day. We want to see positive net new H/L tomorrow to confirm the participation.
Big Adv/Decl over 1000, which is good.
Sectors:
Today was a rotation from current leaders back to…all the other sectors. Retail, builders, software, leisure were the winners today. We’ll have to see if it sticks now.
Semi’s CONFIRMED yesterday’s U&R .
Portfolio UPDATE
New positions:
LULU (398.54$ pivot breakout confirming the BORS setup)
TWNK (BO10PB)
GSM (8.41$ pivot BO confirming the WB)
SPXL (Walk the talk - betting on SPX trend continuation out of recent PB channel)
Trimmed positions:
Closed positions:
BTU (2nd position - still hold core)
VET (Closed BE)
Daily FOCUSLIST
Initial Stop loss is always placed at LOD (Low of Day) of breakout candle.
REFERENCES
Articles on my system:
I really hope that you enjoyed. If you did, please share it so that more folks can be reached and this Newsletter can grow. :)