Daily Plan: Market Review & Focus List (2/21)
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
Indexes taking a big hit on the session as all closed down over 2% with extremely poor DCRs as they closed at the lows. Along with this was terrible breadth metrics with broad based participation to the downside as the NYSE had an overall -2337 issues.
The best days of the recent short term trade-able rally are now more than likely behind us as a clutter of distribution is clearly overtaking both the general market as well as individual stocks which were previously acting very well.
It is not enough to have a handful of stocks acting orderly – for a sustained uptrend which would offer several low-risk opportunities to create meaningful spikes in one’s equity there must be broad participation across the market, not everyone focusing on a limited number of stocks creating crowded trades – see CRDO 0.00%↑ for what happened in such a case.
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