Daily Plan: Market Review & Focus List (1/5)
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
Disappointing action once again today with poor breadth metrics to back it up, the indices closed at the lower end of their DCRs with persistent weakness but the IWM was bought up slightly towards the close.
Below we can see the continuation in build up of the potential bear flag in the SPY 0.00%↑ while the QQQ 0.00%↑ and IWM 0.00%↑ appear to already be breaking down from theirs.
Sector Analysis
I am linking the sectors watchlist in tradingview for your convenience, here
On average sector components were down -0.96%, with some strength seen in Oil and Energy after recent weakness. Clear relative weakness in solar and software which continue their downtrends.
KWEB 0.00%↑ with a strong DCR as it maintains gains from yesterday's session and then adds some on top of that today:
Bear flag potential is still there in SMH 0.00%↑
Leading Stocks Analysis
I am linking the potential leaders watchlist in tradingview for your convenience, here
Mentioned the potential breakout in ACLX 0.00%↑ in yesterday’s update and its good to see such action:
NINE 0.00%↑ supported by the 20EMA and bounced hard:
Scans
52 Week highs
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