Gap Up, Move Down, Then Stabilized. PCE Report Tomorrow

Market Action

QQQ – Gap up then a sharp decline before basing intraday and closing mid range.

Short Term Expectation based on the close is consolidation or up

Bulls want to see continuation up
Bears want to see us break lower and undercut recent daily lows

IWM – weaker 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

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Key Stocks in Deepvue

NVDA slight positive close but a bit of hesitation, ideally flags out right and tightens before breaking through the next key level

MU gap after earnings, not the best close but watch for follow through or build out

PDD many Chinese names acting similar, big gaps to the upside. Added risk with chinese companies

MSTR and crypto theme strong today

COIN push from low range

SCCO miners also with big gaps. See FCX as well

FSLR push higher

UPST upside reversal

KVYO outside day

ORCL inside day

TOST good action off 10ema

CAVA few tight days

ZIM upside reversal near base lows. SUFB so may need handle

RH inside day, still stage 1 and choppy

CEG 65 min, flagging

PRCT tight at the 21ema, better setup then up near highs. See if it can push higher

IBIT through pivot but fade from highs

BNTX building out. Volatile name

Market Thoughts

Like the action after the morning pull in. See how we close the week tomorrow. PCE Report tomorrow could add volatility

Day by Day – Managing risk along the way