Daily Plan: Market Review & Focus List (2/27)
Gap Up Reversal - 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
Unfortunately some potential setups were ruined by this Monday morning gap up which on the whole closed the session poorly as gains were given up - as often happens in this situation.
The market continues to provide valuable feedback, no need to overcomplicate things - bull markets open weak and close strong; bear markets open strong and close weak = the overall market action is still not warranting any aggressive behaviour, the best bet right now is protecting both your mental and financial capital.
SPY 0.00%↑ Reclaims 50MA but closes poorly after gapping up and giving back some gains.
QQQ 0.00%↑ Finding resistance at the short-term KMAs right above.
IWM 0.00%↑ Similar to above got rejected by short-term KMAs right above.
ARKK 0.00%↑ Strongest DCR from the 4:
Leading Stocks Analysis
I am linking the leaders watchlist in tradingview for your convenience, here
SMCI 0.00%↑ Follows through from yesterday's breakout as it makes new all time-highs today on above average volume. This continues to stick out like a sore thumb.
XM 0.00%↑ Another stock with potential leadership qualities which attempted to breakout today above its DTL but may have gotten ahead of itself on the session as ended up closing poorly.
AEHR 0.00%↑ With an inside day and may be setting up a short-term pivot coinciding with short-term KMAs up above.
Sector Analysis
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