QQQ Volatile Near Highs
Richard Moglen
Stock Trader & Student of the Markets. I help traders improve their systems & performance at TraderLion & Deepvue
February 18, 2025
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Market Action
QQQ – Stange day with a very strong close after intraday reversal down from the gap up. Right near Highs. Ideally we flag out or drift lower letting the 10ema catch up
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 with a strong bar taking out today’s low
IWM – Right at the MAs, still in this consolidation. Watching for a push higher through 230
Bulls want to see us follow through up
Bears want to see us reverse lower and undercut the 21ema
IBIT- Follow through down after the fade at the moving averages
Bulls want to see us undercut and rally the recent range lows.
Bears want to see us follow through lower
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.
Leaders and Key Moves
NVDA reversal off the high, ideally builds sideways here but on guard for sharp drop lower
TSLA forming a range here, watching for either a pop higher or follow through lower
META 10 ema test during this trend, on guard for follow through lower
RDDT Follow through lower, watching for an undercut and rally of this level and 50sma
PLTR strong close higher
CRWD trending
BROS still forming a post gap range
TEM ideally tightens against the base pivot
DKNG inside day, on watch for reconfirmation, ideally goes double inside
ABNB inside day
Stocks Setting Up / Holding Up
MNDY through the early pivot, watching for a follow on strength through the base pivot
DOCS tightening, ideally pauses, pulls back one more day
CFLT watching for a push up from this post gap range
PINS watching for continued push higher from the range
AVGO watching for follow through up off the 21ema
LEU watching for a push from this handle
CRNC speculative name, tightening against the 21ema, watching for pop higher
RBRK got the backtest of the base pivot I wanted and strong close, now watching for follow through into highs
RKLB another fade on the range breakout attempt watching for a re-breakout but on guard for follow through lower
APP watching for post gap range breakout
Themes and Leaders
Key Themes: Software, Cyber, AI, Semis, Biotech
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 DKNG
Recent Gaps and Earnings Moves
Day 3 and Later: APP BROS HOOD MNDY PINS DOCS AFRM NET TWLO UPST CFLT ABNB ROKU PCOR DKNG
Market Thoughts & Focus
Some pullback today, Not seeing many primed setups and some rotation today into energy.
Focus on MNDY RBRK LEU ABNB CFLT
Anything can happen, Day by Day – Managing risk along the way