Inside Day
Richard Moglen
Stock Trader & Student of the Markets. I help traders improve their systems & performance at TraderLion & Deepvue
December 17, 2024
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Market Action
QQQ – inside day as we start to work off the extension a bit. trending above the MAs
I do still notice that net new highs and breadth has been declining
Short Term Expectation based on the close is consolidation or higher
Bulls want to see us continue to flag out
Bears want to see us break lower from the inside day and approach the 10ema
IWM – much weaker look. Could not retake the 21ema and now testing the 50sma
Bulls would want to see us respect the 50.
Bears want to see us break below the 50 day
IBIT- consolidation day
Bulls want to see us build sideways and hold the gap up
Bears want to see us reverse lower sharply
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. This is now a preset for Deepvue Members
Post Market Movers.
Key Stocks and Moves in Deepvue
NVDA below the level, upside reversal, see if it can regain it by the end of the week
TSLA the mega cap leader currently. Strong trend. Short term expectation is that a pullback/flag could start any day.
META still building out this flag near the 10ema
AMZN upside reversal action in this short flag
MSTR follow through down
COIN better closing range, tap of the 21ema today, needs to get going
ALAB pulling in slightly
RDDT inside day but low DCR
AVGO gap down but decent action and inside day, want to see this build out similar to ASAN
Stocks Setting Up
GEO watching for a push from this range near the 21ema
IDCC setting up a range. This is already trending so more of a swing trade setup
ML still very tight
NVCR tightening near the top of the consolidation, watching for a break of this mini flag
WRBY tight below the pivot, nice growth
AGX setting up for a pop through the 21ema. upside reversal
DOCS still in this range above the 21ema
FTNT fade today, back in this range
UPWK tight day
UPST two tight days, swing trade type name if the theme acts well
BILL two tight days on the 21ema, watching for a break above the pivot
TOST inside day, watching for a pop up through the 21ema
SMTC watching for a reclaim of the pivot
AVPT tight, watching for a breakout
APP still in this range on the 21ema, watching for reconfirmation
BE could not push the higher pivot, watching for a positive expectation breaker
LMND retested that DTL today, watching for follow through up
PLTR watching for an upside move form the inside day
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 ALAB 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 MRVL GAP NVCR RBRK ASAN DOCU AVGO
Market Thoughts & Focus
Trending a Market. Leaders getting slightly stretched, just mentally aware that we could have some pull in.
Of the names set up, I’m focused most on APP AFRM PLTR LMND
Anything can happen, Day by Day – Managing risk along the way