Coin Setup? Stocks Act Well Ahead Of NVDA Earnings

Market Action

QQQ – great action, gap down and then a strong close back up through the 21ema, Prior high and gap fill in focus now. I want to see this momentum follow through

NVDA earnings tomorrow could still shake a lot of things up – to the upside or downside.

Short Term Expectation based on the close is consolidation or higher

Bulls want to see us continue to build here and ideally follow through up to fill the gap this week
Bears want to see us reverse sharply down and take out today’s low

IWM – also great action, oops reversal and reclaim of the 21ema

Bulls would want to see a follow through up off the 21ema
Bears want to see a reversal back down through the 21ema

IBIT- some continuation higher but not with confidence, bit of a fade off highs

Some more sideways action would be nice to let the 10ema catch up more and kind of reset this flag for another push higher

This remains one of the key themes I’m focused on

Trends (3/4 Up)

Shortest – 10 Day EMA –  Down Below Declining
Short-term – 21 ema – Up  Above Rising
Intermediate term – 50 sma -Up  Above Rising
Longterm – 200 sma – Up – Above Rising

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