MSTR Pushes Higher as Market Holds On
Richard Moglen
Stock Trader & Student of the Markets. I help traders improve their systems & performance at TraderLion & Deepvue
November 18, 2024
[kt_reading_time]
Market Action
QQQ – good action, gap up and decent closing range. Positive reaction after friday’s close. The action of the leaders friday was a bit of a tell.
What’s important now is how this inside day resolves over the course of the week with the gap looming above. NVDA earnings a key event for tech this week
Short Term Expectation based on the close is consolidation or higher
Bulls want to see us continue to build here and ideally push up and fill the gap
Bears want to see us follow through down and test the 50 day moving average
IWM – also inside day at the 21ema but a weaker closing range.
Bulls would want to see a rally up from the inside day, or an undercut and rally of the 21ema and then rally higher
Bears want to see the inside day resolve down and close below the 21
Never miss a post from Richard Moglen!
Stay in the loop by subscribing.
IBIT- still forming a falg above the rising moving averages, woudl like to see this work off the extension and build sideways more
This remains one of the key themes I’m focused on
Trends (2/4 Up)
Shortest – 10 Day EMA – Down Below Declining
Short-term – 21 ema – Down Below Declining
Intermediate term – 50 sma -Up Above Rising
Longterm – 200 sma – Up – Above Rising
Don’t Miss The Deepvue Black Friday Sale – Save $100
We started our Black Friday Sale for Deepvue early – You can save $100 off an annual subscription
- Top Trader Preset Screens and Data Panels. for quick idea generation
- Innovative and actionable indicators such Relative Measured Volatility and Relative Measured Extension
- Customizable Layouts and Dashboards including innovative Bubble Charts, Heatmaps, Risk Calculators and more
- Responsive support team
- Dozens of Tutorial Videos and Regular Webinars
“Amazing platform that is getting even better everyday. A massive amount of data available for stocks and excellent screening tools. The team is very responsive and keeps on improving. Cancelled my other platform subscriptions and only uses Deepvue now.”
Piet, Deepvue Annual Founder
You can join thousands of traders and sign up below – The Black Friday Deal is our best ever
Subscribe to the Trade Lab using the button below for Group and Sector Analysis, as well as Market Leaders and Setups (Over 25 stocks analyzed)
Groups/Sectors
From yesterday’s close on the left, over last 20 days on the right
Performance Charts from Deepvue
Deepvue Leaders Heatmap
S&P 500
Group Ranks: 1 Day, 1 Week, 1 Month, 3 Month from left to right
Post Market Gap Ups and Gap Downs
Key Stocks in Deepvue
NVDA upside reversal just below the base pivot now – Earnings Nov 20. I prefer this weak/sideways action before earnings versus a run up.
TSLA another catalyst gap following news that there would be less regulation on Autonomous vehicles.
I would prefer a few week base here to form under the recent swing high, let the 21ema catch up
META still looks weak, consolidation day
AMZN similar, pulling back to the base pivot, see if it can firm up here
MSTR the strongest stock in the market – but they reported a secondary after the close, see how it acts tomorrow
AFRM great follow through from the upside reversal
BE decent day 2 action – was A+ day 2 follow through but sold off a bit into the EOD, can watch for flag to form, still big volume
Make sure to read my trade opportunity breakdown here about friday’s gapper setup
SQ fantastic breakout – RMV 5 tight yesterday – fintech a key theme right now
HOOD gap and go
YPF reconfirmation , extended but wanted to include as a great example of a low volume & volailtity 21ema pullback near a base pivot, so many big winners from this setup.
COIN follow through from 10ema pullback area
ALAB slight push through the DTL, one to watch for a spot next few days if not in. May react to NVDA earnings
RDDT inside day on the 10 ema
VST was good action, was great but faded along with BE
AX likely makes a move tomorrow, low volume inside day against the base
FLUT tight action post gap
GEO tight flag forming after the catalyst gap
HUT double inside days in spirit but a bit extended, would prefer this against the 10ema
AXON extremely tight – likely makes a move tomorrow. Later gap in the trend
DAVE tight near the gpa up low, software theme
AAOI still in this range, fade today but likely moves with NVDA
UPST tried to push today but faded back to the open, still one to watch as theme so strong
SEZL swing trade type name in this flag
SHOP negative day today but on low volume, can watch for upside reversal or post gap u turn
DUOL pulling back into the 21ema
TSM upside reversal at the 50 day, will move with NVDA
Themes and Leaders
Key Themes
Crypto, Fintech, Software, AI, Semis
These names have the top RS, growth stories
TSLA PLTR HOOD MSTR COIN RDDT APP NVDA AXON FTNT DASH SHOP DUOL
Recent Earnings gaps and powerful moves
These names are good to watch for pullback spots
AAOI APP AXON BROS COIN GEO IONQ UPST TEM BILL DOCS FRSH LUMN ALAB PLTR SOUN LYFT TSLA HOOD POWL Z AX AMSC LUNR PLNT TOST CRDO COHR RDDT RKLB TRMB VST WVE CEIX LMND MSTR SOFI VRT FTNT MCK DFS MLI CADE HIMS MARA HUT ROOT CRS FHN HQY PODD UPWK GEV OKLO NTNX DOCU FN DUOL GDS FOUR SHOP RKLB
Market Thoughts
Strong action today from stocks and leaders, QQQ holding in there. how we deal with that gap will be interesting. Lots of names with short flags into their 10emas or short consolidations post gaps. See if those can push higher.
NVDA earnings wednesday will be key for semis and AI related names – there will be more news about demand, ai expectations
Focus on the leaders – if in one with a great cushion, focus on the trend
Day by Day – Managing risk along the way