Daily Plan: Market Review & Focus List (2/22)
Isolated areas of strength - 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
3 Helpful Scans
Links to TradingView watchlists
Stocks currently on my focus list with actionable trade ideas
General Market Overview
Major indexes closed mostly unchanged for the session with Daily Closing Ranges (DCRs) ranging from 37-49% as the SPY 0.00%↑ finds support at the 50Ma:
All 3 broke last session’s low and now have short-term KMAs firmly trending downwards, as well as currently below the areas of interest marked on each chart, not the most encouraging sign.
However, something worth noting - if ARKK 0.00%↑ can decisively reclaim the KMAs and form a higher low at this area, that would be a nice tailwind for growth stocks and may provide some nice opportunities.
Focus is always on risk first and we most definitely cannot mitigate that aspect now more than ever, the market is still not in a clear trend where breakouts are working in abundance.
Leading Stocks Analysis
I am linking the leaders watchlist in tradingview for your convenience, here
Earnings:
NVDA 0.00%↑ Pushing +8% after hours
TMDX 0.00%↑ Pushing +16%
AI 0.00%↑ Flagging nicely after a +208% move off the lows, now watching to see how this potential flag forms up here as it finds support at the 21EMA and makes a potential higher low
XM 0.00%↑ - Great action here as it reclaims the 10EMA and breaks above its DTL
ELF 0.00%↑ Acting well as it gets supported at the 10EMA and start flagging out
Stocks getting supported at key areas:
SMCI 0.00%↑ - 20EMA
LSCC 0.00%↑ - Confluence of trend line and 20EMA
Sector Analysis
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