Daily Plan: Market Review & Focus List (1/4)
Including Sector & Leading Stock Analysis Along with 3 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
A Personal Portfolio Update
3 Helpful Scans
Links to TradingView watchlists
Stocks currently on my focus list with actionable trade ideas
General Market Overview
Some really nice breadth metrics today across the market which can be seen via the MMFI and overwhelming amount of advancing issues vs declining on the NYSE:
For the second consecutive session, we have seen a rejection at key moving averages on all the indices:
The SPY was rejected at the 20EMA
The QQQ 0.00%↑ was rejected at the 10EMA
The IWM 0.00%↑ was rejected at the 20EMA:
An interesting point to note is the expansion in breadth we have seen over the past 2 days, most interestingly how there were more advancing issues yesterday than there were declining despite the indices closing negative on the day.
Sector Analysis
A clear display of strong breadth in the market from the sector side of things today as on average the sector components listed below were up +1.71%, with Energy XLE 0.00%↑ being the only one to close negative on the session:
I am linking the sectors watchlist in tradingview for your convenience, here
KWEB 0.00%↑ showing continued strength with a +100% move off the late-October lows after gapping up and following through into the close end up +8.81%!
Leading Stocks Analysis
I am linking the potential leaders watchlist in tradingview for your convenience, here
ACLX 0.00%↑ may be setting up once again after a breakout failure in yesterday's session.
CPRX 0.00%↑ looking potentially constructive against the downward trend line up above:
SMCI 0.00%↑ with some ugly action as it reversed on heavy volume into the close:
Portfolio Update
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