Daily Plan: Market Review & Focus List (1/9)
Reversal After Gap Up - 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
Poor closes all around after a morning gap up - this further emphasizes the necessity to not chase strength in this kind of market environment. Also adds another point of feedback as to only add exposure when making progress on previous trades - financing risk from one trade to another, and not getting too exposed too quickly.
As things stand, not much has changed are there are continuous pockets of strength in the market in select stocks, however, we are still lacking the sustained strength in potential leadership groups that is necessary for a sustained uptrend:
Sector Analysis
I am linking the sectors watchlist in tradingview for your convenience, here
Some more rejections at key moving averages can be seen below:
Leading Stocks Analysis
I am linking the potential leaders watchlist in tradingview for your convenience, here
Clear reversal in SMCI 0.00%↑ after a strong gap up and what looked to be some very positive and encouraging action. Now on watch to see whether it breaks down from here.
Some more reversals after strong action yesterday:
Scans
52 Week highs
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