Market Breadth 2023-01-23
The main focus is on setups and scan outcome, that will provide viable opportunities.
Market Structure: Duration bearish market (stocks move in tandem, occasional oversold rallies).
Primary Indicator: Green (bullish continuation and bearish reversals are favorable).
Secondary Indicator: Breadth thrust 12 Jan / Countermove attempt 18 Jan. Current MMFI: 67.70.
MR10: Bullish Continuation - Midpoint. SPY (30 MBC) - QQQ (51 MBC) - IWM (35 MBC)
20 percent study: +27/-6.
Conclusion: Bullish expansion and acceleration in last session, which seems to indicate continuation. Move is not considered at the start, neither overextended as presented from MMFI and MR10. Will run 9 million and combination scan with a positive expectation. In terms of DT will be considerate at 30-45 min of open and observe whether momentum will accelerate or not; due to intact market theme and selective gaps.
Market Structure: Duration bearish market (stocks move in tandem, occasional oversold rallies).
Primary Indicator: Green (bullish continuation and bearish reversals are favorable).
Secondary Indicator: Breadth thrust 12 Jan / Countermove attempt 18 Jan. Current MMFI: 67.70.
MR10: Bullish Continuation - Midpoint. SPY (30 MBC) - QQQ (51 MBC) - IWM (35 MBC)
20 percent study: +27/-6.
Conclusion: Bullish expansion and acceleration in last session, which seems to indicate continuation. Move is not considered at the start, neither overextended as presented from MMFI and MR10. Will run 9 million and combination scan with a positive expectation. In terms of DT will be considerate at 30-45 min of open and observe whether momentum will accelerate or not; due to intact market theme and selective gaps.
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