TSLA Breaks Out as The Nasdaq Rises over 2.5%

Market Action

QQQ – put in a positive expectation breaker as we gapped up after the poor close yesterday. However we faded some from highs so we will have to see what friday brings.

Short Term Expectation is higher/consolidation. We are above the moving averages. We could trade sideways for a week near the horizontal pivot and that would be normal action.

Bulls would want to see continuation higher and a strong close to the week.
Bears want to see a reversal down invalidating the action today

Basically how we close this week will be important information, It will show how the largest institutions have factored in the new news about the macro environment and altered how risk averse they should be.

IWM – similar move but inside day, better close.

Trends (4/4 Up)

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

Groups/Sectors – % Change from Open

Performance Charts from Deepvue

Heatmap from Deepvue

Not many growth minded etfs acted well after the open

Key Stocks in Deepvue

NVDA Gap up but not the best close as it forms a handle in the middle of the base

META strong push. RMV=0 yesterday

TSLA breakout, pos expectation breaker. RMV =0 yesterday

AAPl nice action

CART strong follow through. Short term extended but powerful, keep an eye for pullbacks

CAVA still grinding higher

PLTR as well

QFIN from list strong push

RDDT follow through but not the best close. Can watch for EMA crossbacks

CRS strong action

IBIT gap up, see if it can form a range. RMV 0 yesterday. Theme could wake up

NIO big reversal. Longer term downtrend. But with TSLA going theme could wake up. MBLY also active

RIVN tightening here against the level

VRDN just like the technicals. Fast mover biotech

ASTS another fast mover story name. Establishing this range. RMV 0

RKLB another swing trade type name. Big weekly level as well

NRG ideally tightens more. This name can trend

NVAX another fast mover more story type name.

ALAB ipo to watch in due diligence phase

TEM starting to range here. RMV 0

Market Thoughts

See how we close the week and how setups evolve.

Day by Day – Managing risk along the way