PrimeTrading's daily Newsletter is out! 🛡️🖊️
Alex’s TAKEAWAYS
• PT_UL breadth paused today, let’s see if it was a one-day affair, and we resume on the upside tomorrow.
Still in an early green signal for me based on my Universe List.
• #NQ_F followed through higher and confirmed the base breakout. (uptrend)
• $IWO is still in that range.
• There are still solid setups right now. We need to see these follow through and not fake out like recently.
• The market can’t seem to break down, and dips are being bought aggressively intraday. That’s a change of character that we didn’t see recently.
My UniverseList is giving a signal of a potential start of a more sustained move. I’ll engage and trust this signal as I get traction in my holdings. That said, I remain careful as the overall market (NYSE) is not showing that same breadth improvement.
GAME PLAN:
• Still a short-swing trading market due to a lack of follow-through action.
Taking profit into strength
• Being more aggressive intraday and respecting progressive exposure by EOD.
After gaining some traction in new positions today, I’ll look to push tomorrow if the market & breadth is favorable. Price action & breadth need to confirm first.
❤️🔄🙏
#PT_UL (PrimeTrading UniverseList) Breadth - 05/11 🛡️
• Breadth is slightly down today at -110.
• 0.6x daily momentum, not that bad.
• First NNL since last Thursday & -29% down day on 0.38 U/D volume.
• ST momentum > 1 and UP (🟩)
• MT momentum > 1 and DOWN (🟨)
• LT momentum < 1 and DOWN (🟥)
• MCSI up and > 10dma (🟩)
Bottom line: After four days of positive breadth, we had our first red day today, and it was not that bad. We’ve had a first thrust in the last few days. Now we’ll see if we only saw a PB today before resuming the uptrend.
I am not too worried about today as long we don’t get acceleration and ST & MT momentum turning back below 1. This is normal to see some consolidation along the way.
We remain in a swing market, and LT momentum needs to flip green to hold for longer moves, but we see the POSSIBLE start of a more sustained move. (If we resume the move)
$SWAV (+4.67%) confirmed is BO21PB setup with the recent swing high pivot b/o.
🖊️ Alert was shared @ 296.8$ & 290.37$ in last night's newsletter
https://t.co/DvU0h3uAyX
I believe the best way to learn is by having access to a successful trader's mind.
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I believe the best way to learn is by having access to a successful trader's mind.
Every night, I share my daily routine work as I prepare for my next trading day.
Join my Daily Market update & Focuslist newsletter (7-day free trial):
https://t.co/6pEzg9AC0Y
PrimeTrading's daily Newsletter is out! 🛡️🖊️
Alex’s TAKEAWAYS
• PT_UL breadth has kept improving in the last four days and getting a solid ST/MT momentum green signal. That’s another story on NYSE & NDX.
• Seeing this traction in my UL, I’ll keep focusing more & more on my UniverseList and personal positions.
• NQ broke out of last month’s base.
• IWO broke last month’s consolidation DTL and retested it. I need to see a follow-through.
GAME PLAN:
• Still a short-swing trading market due to a lack of follow-through action.
• Taking profit into strength
• Being more aggressive intraday and respecting progressive exposure by EOD.
My UniverseList is giving a signal of a potential start of a more sustained move. I’ll engage and trust this signal as I get traction in my holdings.
❤️🔄🙏
$RMBS (+3.75%) confirmed is BORL setup with the recent swing high pivot b/o.
🖊️ Alert was shared @ 48.45$ in last night's newsletter
🗨️ Bought @ 48.78$ live on Discord
https://t.co/DvU0h3uAyX
$ACLS (+5.29%) confirmed is BO72PB setup with the recent swing high pivot b/o.
🖊️ Alert was shared @ 121.73$ in last night's newsletter
🗨️ Bought @ 121.45 & 122.38$ live on Discord
https://t.co/DvU0h3uAyX
#PT_UL (PrimeTrading UniverseList) Breadth - 05/10
• Breadth increased today and closed with a 100 reading.
• 2.3x daily momentum, a bit higher, but still good.
• NNH are increasing & 21% up day on 1.86 U/D volume. (good!)
• ST momentum > 1 and UP (🟩)
• MT momentum > 1 and UP (🟩)
• LT momentum <1 and UP (🟨)
• MCSI up and CROSSED the 10dma (🟩)
Bottom line: With the last four days of positive breadth, every ST & MT indicator is in green and in an uptrend. Despite seeing negative breadth on NYSE & NDX, my Universe is getting good traction right now. I’ll get more aggressive and increase my exposure according to this market state.
We remain in a swing market, and LT momentum needs to flip green to hold for longer moves, but we see the POSSIBLE start of a more sustained move.
05/10 - #PTPortfolioUpdate🛡️
New: $RMBS (1/2) $ACLS (1/2) $TMDX (1/2) $LTH (1/2)
Hold:
Closed:
After being 100% cash to control my risk into CPI, I was ready this morning following a good reaction, and with a good FL in my hands. I pushed exposure intraday and trimmed into strength EOD while moving some positions SL to b/e. Free rolling.
We were ready & executed.
HAGN!! ✌️