Daily Plan: Market Review & Focus List (11/4)
Expected Volatility With CPI & FOMC Tomorrow - Market Overview, Industry & Leading Stock Analysis + 4 Helpful Scans
Hi all! đŸ‘‹
Still running this Easter special offer right now:
In this article I will cover:
General Market Overview
Chart of The Day
The action displayed by leading stocks with TML potential
Individual Sector Analysis - Which groups are breaking down vs showing relative strength
4 Helpful Scans to get potential leaders on our radar
Links to TradingView watchlists
Personal Portfolio Update
Stocks currently on my focus list with actionable trade ideas
Stockbsessed is neither an investment or financial advisor. Stockbsessed does not provide financial advice and none of the information being provided is to be seen as such.
General Market Overview
While the indexes along with the majority of individual stocks and I track had mediocre daily closing ranges, many of these traded with tight and supportive action while not losing key areas just yet.
Rest is to be expected after strong action recently and some selling should come as no surprise heading into tomorrow’s session, which is one where heightened volatility is expected due to CPI and FOMC.
Open positions continue to act very well along with new trades I took on - I entered AUPH 0.00%↑ and APPS 0.00%↑ from yesterday's focus list:
SPY 0.00%↑ Tried to push above this descending trend line but could not hold the majority of its gains into the close and ended the session just above even. Nothing wrong here as it continues consolidating well above KMAs:
QQQ 0.00%↑ Tightening up very well here with a double inside day right above the 10EMA as it constructively flags below this descending trend line here:
IWM 0.00%↑ Follows-up last session's gains to now close above the 10 and 20EMAs on below average volume:
ARKK 0.00%↑ Pushed through last session's inside day's high to close right above the 10 and 20EMAs and now has the 50-day moving average up above:
Leading Stocks Analysis
I am linking the leaders watchlist in tradingview for your convenience, here
MELI 0.00%↑ Follows-up the strong closes over the last 2 sessions with a good showing of relative strength on the day to close +2.67% right at the highs:
MBLY 0.00%↑ Holds this higher low as it reclaims all the key moving averages within a single session to close up +2.08% on the session going out near the highs:
TSLA 0.00%↑ Struggling with the KMAs up above as sellers come in strong around the 10/20 EMAs:
ON 0.00%↑ Encounters sellers around the short-term moving averages and shows semiconductors may be getting tired here after the recent run, closes at the lows of session and down on the day:
FSLR 0.00%↑ Weakness was supported by the 10EMA and may now be setting an alternative pivot below 213:
AI 0.00%↑ Tried to push out but got a bit ahead of itself as it encountered sellers at KMAs and reversed from around +9% to close down on the session:
ONON 0.00%↑ Continued support around the AVWAP from recent earnings gap-up, would like to see some additional tightness here:
In the following sections of the daily plan I go over additional research in preparation for the next session:
✅ Individual sector analysis
✅ 4 Scans with results to get stocks with leadership qualities on our radar
✅ Personal Portfolio Update
✅ Stocks currently on my focus list with actionable trade ideas - The best setups from a risk/reward perspective
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