The Nasdaq Down Over 2% as Small Caps Break Higher

Market Action

QQQ – sold off 2% and pulled back to the 10ema. Room to the 21ema. The QQQE also reversed the breakout from yesterday

IWM – Small caps on the other hand gapped up and rallied

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

Performance Charts from Deepvue

Heatmap from Deepvue

Semis hit hard

Key Stocks in Deepvue

NVDA potentially putting in a lower high, many Semis hit such as ARM ONTO TSM

HIMS gap up in the range, one to watch

TSLA significant bar down. Because it is early in the trend, one to keep on your wl and watch for an entry

LABU breakout

LNTH great follow through on big volume

PAAS miners continued strength

RDDT tight day

VST tight day

Market Thoughts

The type of day you should have been watching out for given the QQQ extension and catalyst.

We’ll see if the rotation into small caps continues.

This is a great day to look for RS. note stocks showing strength, holding up well in promising patterns