Mindset During Pullbacks
Pullbacks aren’t threats — they’re opportunities in disguise.
When you’re aligned with the trend, positioned with structure, and reading the tape objectively, a pullback isn’t something to fear. It’s where setups reset, current leaders take a breather, and new leaders often emerge. It’s where the next leg higher quietly builds beneath the surface.
Yeah, it feels uncomfortable — but discomfort isn’t danger. The odds rarely favor a new bear market kicking off right in the middle of trend strength and improving internals.
Keep your mindset clean. Don’t let every dip shake your conviction. Stay patient, stay prepared — pullbacks often reward the traders who don’t flinch.
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SITUATIONAL AWARENESS, GAMEPLAN, and TOP IDEAS 6/10
THE MARKET PICTURE (5-pillars checklist)
1. $QQQ Price Action — risk-off
$QQQ and $SPY retested a declining 21dma-structure and got rejected last week. Today $QQQE, $IWM, and the Dow Jones all broke their 21dma-structure outright.
$QQQ closed -1.79% on the day. Character is heavy — leadership of the indices is narrowing as the broad averages crack.
2. Breadth Regime — risk-off
$MCSI accelerated lower again today, sitting at -0.34 and rolling well below its 10dma. No sign of repair.
$MCO is now at -1.45, deeply oversold near 2σ. A bounce is possible from here — but I have to respect price.
3. Internals — risk-off
Credit spreads ($SHY/$HYG) are trying to reclaim their 21dma-structure. That’s a stack of red flags for risk appetite.
$VIX printed a new high above Friday’s at 22.23 (+11.82%), holding well above its rising 21dma-structure.
4. Liquid Leaders Action — mixed
Liquid Leader Composite -2.65% today, $MCO on the LL group now at -2.35 — deeply oversold, almost 2.5σ.
The top leaders are just getting into their 21dma-structure area. That’s the make-or-break tell — how they build entries here is the signal.
5. Portfolio & NER Feedback — risk-off
Stress-test day. Protecting EC and getting out of merchandise that isn’t holding structure.
Action: NEW none / ADDED none / TRIMMED $NBIS, $ARM / CLOSED $CORZ, $INTC, $AMD, $COHR
NER -0.57%, NEP +0.03%, NE Δ -0.54%, Open Heat -1.28%. Down to ~40% exposure. The book is telling me to keep stepping aside.
THE GAMEPLAN
Defensive, but open minded. The pillars are all leaning the same way — indices below declining 21dma-structure, breadth accelerating lower, $VIX making new highs, credit spreads trying to reclaim. That’s not a tape I’m pushing exposure into. My read and the data are aligned here, so the call is simple: protect what I built off the April lows, respect price, and let the market come prove itself.
That said — I’m not turning bearish. The leaders are now sitting at their 21dma-structure area for the first time in this leg, and $MCO is deeply oversold near 2.5σ. That’s the setup that matters. The make-or-break pillar is Liquid Leaders Action — specifically, how the top names build (or fail to build) entries at their 21dma-structure over the next few sessions. If they hold and absorb, the picture starts repairing. If they slice through, the defensive posture extends.
For the next few sessions I’m in observation mode — 40% exposed, no new initiations, watching how leaders behave at structure. Defense is already on. Middle East headlines are back in the tape, so overnight risk is real and I’d rather miss the first bounce than carry into a gap. Less is more. I’ll re-engage progressively when leaders give me a reason — not before.
TOP IDEAS FOCUS LIST
In a tape like this I’m only interested in leaders building entries at their rising 21dma-structure — that’s where the cleanest risk/reward shows up if we get repair.
$SNDK (3) — Memory
$DOCN (37) — Software / Infrastructure
$INTC (162) — Semiconductors
$ALAB (167) — Semiconductors
$TTMI (179) — Hardware, Equipment & Parts
$DELL (330) — Computer Hardware
$MRVL (361) — Semiconductors
$AMD (425) — Semiconductors
$NBIS (462) — Internet Content & Information
$PENG (575) — Hardware, Equipment & Parts
$CSCO (600) — Communication Equipment
$TWLO (882) — Software / Infrastructure
$CORZ (863) — Software / Infrastructure
$INOD (892) — Information Technology Services
$POWI (953) — Semiconductors
$GFS (1127) — Semiconductors
PORTFOLIO UPDATE 6/10
Hey guys, another rough one. High vol, more Middle East headlines, and the oversold bounce I was looking for just didn’t show up. What’s oversold can stay oversold — you don’t fight price. Price is #1.
Market picture
Today QQQE broke its 21dma-structure, and MCSI accelerated lower. The one positive: MCO is now oversold, so a bounce is possible — but I have to respect price here.
QQQ and SPY both retested a declining 21dma-structure and got rejected. NYSE and Dow Jones broke their structures outright. VIX made a new high above Friday’s, and credit spreads are trying to reclaim their 21dma-structure. That’s a stack of red flags.
So all in all, my line is simple: as long as QQQ stays below a declining 21dma-structure, I’m respecting price. That said — I’m keeping an open mind. Screened tonight and a ton of top names are pulling right into their 21dma-structure: ALAB, AMD, CORZ, CRWD, CSCO, DELL, DOCN, INTC, MRVL, NBIS, SNDK, and more. Tape is getting pretty oversold and the right merchandise is sitting on the right levels. Not a buy-everything moment — but I’m not putting myself in a long-pullback mindset either. Defensive, but open minded.
On my book
NER at -0.57%, NEP +0.03%, NE Δ -0.54%. Open Heat at -1.28%.
Down to 40% exposure. From here it’s observation — market needs to prove itself before I recommit. Not pushing new exposure into a tape printing this many red flags. Cuts today were about protecting EC and getting out of merchandise that isn’t holding structure — not a market call, just respecting what price is telling me. CRWD and the remaining ARM/NBIS cores are the names still earning their spot.
Good luck guys ✌️
Today’s action
NEW:
ADDED:
TRIMMED: NBIS, ARM
OUT: CORZ, INTC, AMD, COHR
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Themes Lab — 6/10 🧪
Top-down read on where leadership lives across 180+ market themes, ranked by RS and filtered for setups coiling at the 21dma-structure area.
LEADING THEMES (RS)
• Memory — RS 92 (#1)
• Power Semiconductors — RS 87 (#2)
• Semiconductor Equipment — RS 74 (#3)
• Analog Semiconductors — RS 70 (#4)
• AI Servers & Hardware — RS 74 (#5)
Semis sweeping the top of the board — Memory leading at +74% 3M with all five constituents coiling sub-RS 100, and Power Semis breadth running just behind.
TOP SETUPS @ 21dma-structure area
• $SNDK 100 — Memory
• $MU 100 — Memory
• $ARM 100 — Analog Semiconductors
• $DELL 100 — AI Servers & Hardware
• $STX 100 — Memory
• $NBIS 99 — GPU Cloud & HPC
• $AMD 99 — AI Infrastructure
• $ALAB 99 — Connectivity Semiconductors
• $LSCC 97 — Analog Semiconductors
• $LRCX 98 — Semiconductor Equipment
THEMES SETTING UP (full breadth)
Watch the themes where the whole leadership board is coiling at the 21dma-structure area together — that’s where the cleanest follow-through tends to come from:
• Memory — $SNDK, $MU, $STX, $WDC, $RMBS all setting up (5 of 5 leaders)
• Analog Semiconductors — $ARM, $LSCC, $ST, $AMKR all setting up (4 of 5 leaders)
• Electronics Mfg Services — $CLS, $FLEX, $TTMI, $JBL all setting up (4 of 4 leaders)
• Semiconductor Equipment — $LRCX, $TER setting up (2 of 5 leaders)
• Power Semiconductors — $ON, $STM setting up (2 of 2 leaders)
• Connectivity Semiconductors — $CRDO, $SMTC setting up (2 of 3 leaders)
• GPU Cloud & HPC — $NBIS, $DOCN setting up (2 of 4 leaders)
TAKEAWAY
Tape is risk-on and semis own the leadership board — Memory, Power, Analog, and Equipment all coiling with broad constituent participation. Watch Memory and EMS for the cleanest breadth-driven follow-through; AI Servers and GPU Cloud round out the rotation.
By: @TradersLab_
LEADERS STALKLIST
Liquid Leaders Universe (top RS)
SNDK, WDC, BE, MU, STX, LITE, SATS, DOCN, VSCO, LRCX, STM, GTX, TTMI, MRVL, VSH, AMAT, CAT, VSAT, ASML, TSEM, COHR, ALAB, TER, KNX, AMD, AMPX, ATI, KLAC, ODFL, INTC, DELL, SMTC, STLD, MKSI, BWA, TKR, CIEN, CSCO, FLEX, FTNT, LSCC, FROG, VIAV, CENX, PENG, RAL, NBIS, FPS, GLW, MT
Liquid Leaders Episodic Pivot (EP) sorted by Gap (Potential new Leader/Catalyst)
None
Liquid Leaders 21dma-structure Pullback scan (LONG)
SNDK, DOCN, SMTC, ACMR, VIK, PENG, XPO, BURL, PANW, TWLO, OUST, INOD
REFERENCES
PT Wiki Is Now Live!!
After weeks of building, writing, editing, and organizing... I’ve finally wrapped up the Free PrimeTrading Wiki. This is the central place where I’ve documented my entire swing trading system — the mindset, process, setups, tools, and how I actually execute.
If you’ve ever wanted a full breakdown of how I approach the market day in and day out, this is it.
What’s Inside:
Alex's Swing Trading System – full framework, entries, sizing, market timing
TradersLab Scans – the exact filters I use to build my Focus List
Trading Psychology Reflections – key mindset shifts and lessons
Glossary of Terms – clear definitions so we’re all speaking the same language
Education Articles – deep dives on Risk Management and Market Structure
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Tools – my Trading Journal + TradingView scripts (21dma structure, ATR extensions)
The only piece still missing is the Discord Onboarding section — it’ll be added in the next few days. This project is for you — to help you understand the why, not just the what. Let me know what you think.
https://traderslab.gitbook.io/primetrading
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