The Market Trends Higher – Extended?

Market Action

QQQ – Up slightly. 5 days up in a row. Powerful run since the upside reversal but on a short term timeframe slightly extended.

QQQE – advancing from the handle and looking to breakout form the base

Trends

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

Groups/Sectors % Change from Open

Biotech and Electronic equipment strongest today. Software Cyber EV good action

Key Stocks in Deepvue

NVDA not the best close

SMCI peaking above the DTL again

PLTR base breakout but short term extended. You can use RMV to find low risk points up the right side

RIVN pushing, following through from upside reversal.

FLSR inside day just below the larger base pivot and 50 day

Rotation into biotech today. NBIX one that has good EPS, Sales and has been a market leader in the past. This base is right near all time highs and on top of a multi year base. VRTX another one with numbers. ALNY

CRS up the right side against the MAs

ELF against the 21ema, later stage base

RDDT forming a range below highs

VERX software space, nice weekly chart

DDOG upside reversal up right side

CAVA failed BO but back in range. see what it did last base

CRWD shake out type action. check PANW CYBR as well

Market Thoughts

Seeing lots of setups. QQQ may look extended, but the action of the stocks matters the most.

We are in an uptrend until proven otherwise.