SNOW Earnings Gap – RDDT Breaks Out as Small/Mids Lead
Richard Moglen
Stock Trader & Student of the Markets. I help traders improve their systems & performance at TraderLion & Deepvue
November 21, 2024
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Market Action
QQQ – rocky day with NVDA’s wild action but it closed well and made a bit of progress into the gap.
Short Term Expectation based on the close is consolidation or higher
Bulls want to see us continue to build here and ideally follow through up to fill the gap this week
Bears want to see us reverse sharply down and take out the recent lows
IWM – Better action, popping up from the 21ema nicely.
Bulls would want to us trend higher from this point
Bears want to see a reversal back down to the 21ema
IBIT- push higher, trending above MAs but getting a touch short term extended, further from a proper buy point. ideally we form a 3 weeks tight up here or at least a 10ema flag and reconfirm.
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Trends (4/4 Up)
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
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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 –
ESTC up
RDDT down
Key Stocks and Moves in Deepvue
NVDA all that action to be down slightly, see how it acts day 2. Later stage base but still a leader in AI.
Growth has been decelerating as they are going against tough comps
TSLA basically triple inside, I could see a gap and go or and undercut of this tight range and then a push higher. As I’ve said previously ideally it trades sideways for another week or two but ready for whenever it pushes.
META also erratic action but decent close. still under MAs
AMZN moving below the range
MSTR got the reversal that was expected. At the 10day now. This could build out a flag and setup another spot but should be reserved for fast traders. Know yourself and if you can play these types of moves.
SNOW earnings gap and highest volume ever, estimates improving, one to watch for post gap entries if not in. Overhead to deal with
RDDT standout bar today but down after hours, see how it acts the rest fo the week and tomorrow if weakness bought up
KD strong gap and go, was in the report 2 days ago and pushed higher yesterday
RKLB a Dr Wish Green Line Breakout today
RBRK strong expansion, in report tuesday
AI inside day and up
FOUR strong push, fintech key theme
Stocks Setting UP
ACLX still in this range
MIR short falg, just below all time highs, ideally this setup matures a bit more but a fast mover. Energy theme
PLTR 10ema flag
UPST faded again but forming another tight area, right theme. Watch for strong push but swing trade type name
CXW politic catalyst related, tight flag
BE inside day, watching for continuation up. Energy for data centers theme
Dave software theme post gap flag
MGNI fast mover, at a big weekly level
BILL post gap flag, ideally would set up a tight area under this pivot but may go earlier
COIN can watch for a spot against the base level (orange line) or a positive expecation breaker
GLBE inside day, can watch for spot to form, ideally flags and/or tightens
ESTC earnings gapper tomorrow
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 DUOL NVDA AXON FTNT DASH SHOP GEV
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 SNOW ESTC
Market Thoughts
Good to see NVDA and megas firm up a bit but smalls and mids excelled. looking for follow through and ideally a strong weekly close.
Focus on the leaders – if in one with a great cushion, focus on the trend. Patience Pays in a strong market in a leader.
When having a good period I always visualize where the next pullback could come and how I will react. Always be ready for downside action.
Day by Day – Managing risk along the way