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Market Action
QQQ – Sharp drop from the tight area through the prior high and 21ema – the bears won this end of the week
Short Term Expectation based on the close is consolidation or lower
Bulls want to see us respect this level, build a range here or have a positive expectation breaker early next week and rally sharply retaking the 21
Bears want to see us follow through lower
IWM – more follow through down
IBIT clear RS, strong action today
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Trends (2/4 Up)
Shortest – 10 Day EMA – Below declining
Short-term – 21 ema – Below declining
Intermediate term – 50 sma – Above Rising
Longterm – 200 sma – Up – Above Rising
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Groups/Sectors – % Change
Daily Performance on the Left – 20 day Performance on the right
Performance Charts from Deepvue
Deepvue Leaders Heatmap
Group Ranks: 1 Day, 1 Week, 1 Month, 3 Month from left to right
Key Stocks in Deepvue
NVDA break lower to the prior high and 21ema, earnings the 20th, semis have been lagging
TSLA found support near the 10ema as we wanted and showed strong RS.
META big break lower through the 21
AMZN gap lower to the 21ema
SHOP like the action, good close
ROOT from the double inside I pointed out yesterday, good RS
AFRM strong off the prior base high
PLTR so powerful
MSTR good action going sideways
COIN strong off 10ema area
BROS tight action
SQ good action, would like more of a flag here
FTNT flagging back into the 10ema
AX bank name that can make nice trends, 10ema, top base pullback
OWL still at the 21
ALAB leaking lower towards the gap low, shake of that to the 21ema?
PRCT back to the base high
RDDT break lower to the 10ema
UPST upside reversal near gap lows
HOOD nice flag
CEIX 10ema flag
CORZ 10ema
LYFT holding up well
Top Leaders
These names are have the top RS, growth stories
TSLA PLTR HOOD MSTR COIN RDDT APP NVDA AXON FTNT DASH SHOP DUOL
Recent Earnings gaps and powerful moves
These names are good to watch for pullback spots
AAOI APP AXON BROS COIN GEO IONQ UPST TEM BILL DOCS FRSH LUMN ALAB PLTR SOUN LYFT TSLA HOOD POWL Z AX AMSC LUNR PLNT TOST CRDO COHR RDDT RKLB TRMB VST WVE CEIX LMND MSTR SOFI VRT FTNT MCK DFS MLI CADE HIMS MARA HUT ROOT CRS FHN HQY PODD UPWK GEV OKLO NTNX DOCU FN DUOL GDS FOUR SHOP RKLB
Market Thoughts
Very negative day on the QQQ but individual leaders help up alright, we’ll see what next week brings. QQQ is my trend filter, much more aggressive when we are above a rising 21.
We were short term extended and pulled in hard, now how do things respond – higher lows? Track the leaders and the names you missed and want in.
Day by Day – Managing risk along the way
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