Alex's daily Market update & Focuslist - 01/30

FOMC & Jerome Powell's time! Good evening! Today, the broad market failed to follow through, and I received mixed feedback from my recent trades. AMD, MSFT, and GOOGL reported earnings…and overall, it didn’t go well with -6% moves after-hours in AMD & GOOGL. Tomorrow's market opening should be volatile, with these earnings spreading in other tech & mega-caps names. Later tomorrow, we have FOMC + Jerome Powell’s press conference…which should give more clues to the FED’s plan about cutting rates & the economy. Not that I trade or follow these events, but I accept & respect the risk & volatility they bring to the market. We often see strong moves on FOMC day, only to be reversed & faded the following day. For that reason, I am standing at 10% exposure, and I don’t plan to keep new exposure tomorrow unless we see a power & breadth thrust move, and I can de-risk these new positions before the market closes. Risk-first for me in these types of volatility-inducing events. HAGN! Alex ✌️ Tonight’s daily report content PrimeTrading Market Model #PTMM + Takeaways General Market Analysis: NASDAQ - S&P 500 - RUSSEL 2K - OTHERS, including my daily levels & my bullish and bearish scenarios Market Internals Sectors & Themes Analysis Daily Focuslist including setups, alert levels & explanation (long & short) Leaders list + Scans (technicals, fundamentals & potential TMLs) My Portfolio Update Economic Calendar Get 10% off for 1 year PrimeTrading Market Model #PTMM + Takeaways Key Takeaways: Slightly down day with GDB at -230 Price still above all kma's. MCSI followed through, but still below 10dma 5-day momo continues to trend down, as what appears to be a headwind for now MT_momo hooked back down Tomorrow is FOMC, and we'll likely have way more information on where this market will go. Stay tuned! PrimeTrading is a community dedicated to equity swing trading, providing a collaborative environment for learning and active trading alongside seasoned and knowledgeable traders. Enhance your skills as a trader by adopting a risk management-centric approach, working closely with me in real-time throughout the intraday trading sessions. ✅ Intraday Live Execution of My Trades Experience & learn of live intraday trading as I share real-time insights into my execution process. Witness the decision-making, strategies, and nuances that drive success in the fast-paced world of intraday trading. ✅ Alex's Daily Market Wisdom, Portfolio Updates, and FocusList Access exclusive daily market commentary, portfolio updates, and the intricately curated FocusList from Alex. Gain valuable insights into market trends, trade executions, and the strategic decisions influencing the portfolio. ✅ Sharing & Refining Trade Ideas with an Exceptional Group Engage in a vibrant community where like-minded traders collaborate to share, discuss, and refine potential trade ideas. Leverage collective intelligence, diverse perspectives, and collaborative efforts to enhance your trading strategy. ✅ Beyond Markets: Unveiling Macroeconomics, Cryptocurrencies, and More Explore broader discussions beyond traditional markets, including macroeconomics, cryptocurrencies, and other pertinent topics shaping the financial landscape. Stay informed on diverse market dynamics and emerging trends. ✅ Mastering the Mind: Delving into the Mental Game & Psychology of Trading Gain insights into the psychological aspects of trading. Delve into discussions that address the mental challenges, mindset shifts, and strategies to cultivate resilience and success in the ever-evolving world of trading. ✅ Learn from the Best: Education & Mentorship by Alex & Pro Traders Immerse yourself in a comprehensive learning experience with educational content and mentorship sessions led by Alex and other seasoned traders. Acquire the knowledge and skills necessary to navigate various market conditions successfully. ✅ Interactive Exploration: Q&A Zoom Meetings for Dynamic Learning Participate in interactive Q&A Zoom meetings designed for dynamic learning. Pose questions, engage in discussions, and benefit from real-time insights, creating an enriching and collaborative learning environment. Alex 🛡️✌️ Subscribe to DISCORD here GENERAL MARKET ANALYSIS S&P500 (ES_F) Today was an inside day, but MSFT GOOGL AMD earnings weighted on the major indices and we gapped down of the recent intraday range and now back below the wedge we broke out yesterday. We are still above all kma’s…but tomorrow FOMC will be a key catalyst. NASDAQ (NQ_F) NQ was hit harder because of these mega-caps weighting in the index. We are gapping down nearly 1% now, and it will be interesting to see the open and how we react to FOMC tomorrow. We are just below the 8dma, but still above the 21dma and the 17165$ recent pivot. RUSSELL 2K (RTY_F) RTY could not follow through today, and we returned to retest the 2004$ level. Tomorrow’s FOMC reaction will be a make or break of that range breakout and confirmation or not of that small-cap rotation. The RTY/small-cap chart looks very constructive and shows a potential broadening of the market IF we have a good FOMC reaction and continue higher from here. Market Internals... Keep reading with a 7-day free trial Subscribe to PrimeTrading to keep reading this post and get 7 days of free access to the full post archives. Start trial A subscription gets you: 5 x daily market review, sector analysis & leaders list - subscriber only PORTFOLIO update FOCUSLIST with alert levels & setup explanation LIKE COMMENT RESTACK © 2024 Alex 548 Market Street PMB 72296, San Francisco, CA 94104