Leaders Act Well, Set Up Pullbacks
Richard Moglen
Stock Trader & Student of the Markets. I help traders improve their systems & performance at TraderLion & Deepvue
December 3, 2024
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Market Action
QQQ – good action and strong close, new highs. Good to see us trending here
Short Term Expectation based on the close is consolidation or higher
Bulls want to see us continue to push higher or constructively move sideways tightly
Bears want to see us reverse sharply
IWM – weaker today still in this range
Bulls would want to us push higher
Bears want to see us break bellow the 10ema
IBIT- good action off the 10ema, watching for follow through
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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
Performance Today on the Left, Performance over the past 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 Movers. OKTA PSTG MRVL
Key Stocks and Moves in Deepvue
NVDA just below the 21ema, watching for a pop higher
TSLA tight day below the pivot, watching for a push through
META powerful push from the tight area near the moving averages.
AMZN good action
MSTR pullback to 21ema, notice the lighter volume. Could blast higher
CRDO strong earnings gap
ALAB strong expansion from tight area, respected 100
APP expansion higher
PLTR expansion higher
SMTC outside day, watching for continuation
RDDT nice push, respected the pivot well
DUOL push from 10ema
Stocks Setting Up
AA tight on top of the base pivot
COIN tight above the base pivot, actionable today, watching for continuation up
CRWD 21ema pullback
CVNA tight day and in range
GLBE tight near gap up highs
MGNI upside reversal
RELY tight range
VRT tight 21ema pulback
AI upside reversal off 10ema area, watching for follow through
GTLS nice linear moves, upside reversal
VST 10ema pullback, watch for push higher/undercut and rally of MA
SHOP 10ema pullback
SNOW oops reversal, watching for follow through
GH upside reversal
BILL constructive pullback, watching for push higher
TOST 10ema pullback but far from base, would prefer 21ema mini base
BKKT leak below level, watching for quick reclaim, otherwise not worth watching, swing trade type name
BE 10ema, pivot pullback
DKNG handle, upside reversal
SE watching for breakout
FTNT upside reversal
CCJ upside reversal, watching for follow through
HUBS software theme, liquid name, 10ema upside reversal
GPOR 10ema pullback
SQ upside reversal
RBRK oops reversal watching for follow through
GEV 21ema test, watching for push higher/ undercut and rally
INOD high flyer, watching for push up, swing trade name
Themes and Leaders
Key Themes
Crypto, Fintech, Software, AI, Semis, Alt Energy
These names have the top RS, growth stories
TSLA PLTR HOOD MSTR COIN RDDT APP DUOL NVDA AXON FTNT DASH SHOP GEV VST VRT
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 SMTC PSTG OKTA
Market Thoughts & Focus
Nice action from leaders and decent amount of pullback setups, looks constructive, see how we close the week. Follow through up will be a key tell
SNOW COIN NVDA BE most interesting to me tomorrow morning
Anything can happen, Day by Day – Managing risk along the way