QQQ Breaks Out – More Earnings Gaps
Richard Moglen
Stock Trader & Student of the Markets. I help traders improve their systems & performance at TraderLion & Deepvue
February 13, 2025
Market Action
QQQ – And there is the breakout move, great to see follow through after yesterday. Ideally we begin trending now into new highs
Short Term Expectation based on the close is consolidation or higher.
Bulls want to see us build sideways or continue up
Bears want to see a reversal back lower and a negative close to the week
IWM – Good close but remains weaker just at the 21ema
Bulls want to see us follow through up through the MAs
Bears want to see us reverse lower
IBIT- Still in this range below the MAs. Suspect but no real push either way.
Bulls want to see us pop back through the MAs
Bears want to see us follow through lower and undercut today’s low and the range (basically break out to the downside)
Trends (4/4 Up) – Based on the QQQ
Shortest – 10 Day EMA – Above Rising
Short-term – 21 ema – Above Rising
Intermediate term – 50 sma – Above Rising
Longterm – 200 sma – Up – Above Rising
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Groups/Sectors
Performance Today from open on the Left, Performance over the past 20 days on the right.
Performance Charts from Deepvue
Deepvue Leaders Heatmap
S&P 500
Heatmap from Deepvue
Group Ranks: 1 Day, 1 Week, 1 Month, 3 Month from left to right. This is now a preset for Deepvue Members
Post Market Action. ABNB ROKU Up
Leaders and Key Moves
NVDA Strong action after the 21ema pullback. Up against the 50 SMA now, looking for a strong end to the week
TSLA As mentioned yesterday, potential base low is in until proven otherwise, watching for higher low at the MAs
META No change, Grinding higher
RDDT hesitation after the gap down, close above the 21ema, watching which way this resolves
PLTR Tight consolidation after the oops reversal, watching for reconfirmation up
CRWD strong bar
BROS earnings gap, right at prior ATHs
HIMS a leader, very strong expansion
APP indecisive. highest volume in a while. Can it hold the gap low and reset
TEM breakout
COIN wedge pop. likely needs bitcoin to get going though
Stocks Setting Up / Holding Up
AVGO Watching for a range breakout. Likely moves one way or another tomorrow
AXSM watching for a flag breakout. Biotech. Big Monthly Base
MNDY watching for flag breakout and base pivot reclaim after HVE on earnings
MP watching for push through today’s high
TTWO watching for post gap u turn through highs
DOCS watching for post gap u turn, oops reversal today
DAN watching for a breakout from the inside day and range.
PAAS watching for a break from this handle and inside day
CRNC spec name, watching for a break from these two tight days
RKLB watching for a break through today’s high
CFLT watching for reconfirmation from the inside day
PINS watching for a break from this falg and post gap u turn
ABNB watching for gap and go move on earnings.
Themes and Leaders
Key Themes: Software, Cyber, AI, Semis
Strongest names in software – PLTR SNOW SHOP GTLB ESTC NET CRWD ASAN PLTR TWLO APP
These names have the top RS, growth stories
RDDT CRWD HOOD
Recent Gaps and Earnings Moves
Day 1 Tomorrow: ABNB ROKU
Day 2: APP BROS HOOD
Day 3 and Later: MNDY PINS DOCS AFRM NET TWLO UPST CFLT
Market Thoughts & Focus
Great to see us break out today, ideally we now see a smoother more trending environment. Names are following through. Want to see a strong end to the week.
Daily Focus on AVGO
Anything can happen, Day by Day – Managing risk along the way