Daily Plan: Market Review & Focus List (2/23)
Earnings Movers, Sector & Leading Stock Analysis, + 3 Helpful Scans
Hi all! 👋
In this article I will cover:
General Market Overview
Sector Analysis - Which groups are breaking down vs showing relative strength
The action displayed by leading stocks with TML potential
3 Helpful Scans
Links to TradingView watchlists
Stocks currently on my focus list with actionable trade ideas
General Market Overview
Some erratic action today as the indexes had wide ranging sessions all around, all 3 closed below their opening prints but ended up closing the session well off their lows as some late day buying came in.
Potential shakeouts across the board as yesterday’s lows were just broken below by a few cents followed by strong closes:
SPY 0.00%↑ Support at the 50Ma once again:
QQQ 0.00%↑ Stronger than above:
Now watching for breaks above today’s highs.
Think we are still in no man’s land as of now, no clear trend and more than likely not worth chopping up your equity curves trying to position yourselves in stocks - drop your egos and focus on equity above all with a risk-first mindset.
Leading Stocks Analysis
I am linking the leaders watchlist in tradingview for your convenience, here
TMDX 0.00%↑ Closes +20.5% on the session following its earnings report. Volume ran ahead at 5.93x average, closing well off the lows with a 93% daily closing range.
NVDA 0.00%↑ +14% following earnings release. Volume ran ahead at 2.21x average, with a 74% daily closing range.
SMCI 0.00%↑ Another strong session to take it right back up to the top of its base after finding support at the 20EMA - now watching for some orderly consolidation to take place up here at prior resistance.
ATAT 0.00%↑ Liking the action in this recent IPO lately with some clear RS, however, really needs to get out of this habit of such wide trading ranges - last 4 trading sessions:
-4.3%
+4.2%
-6.5%
+13.9%
Definitely needs to start tightening up and offering lower-risk opportunities before getting properly interested
ELF 0.00%↑ Continues to flag nicely
Sector Analysis
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