NVDA Flat after Earnings. Market Pauses
Richard Moglen
Stock Trader & Student of the Markets. I help traders improve their systems & performance at TraderLion & Deepvue
February 26, 2025
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Market Action
QQQ – Slight gap up, base and attempted rally before some more selling for a lower half closing range. Overall a consolidation day after 3 sharp down days
Short term expectation based on recent action is consolidation or follow through down
Bulls want to see us follow through up and a strong close. On a rally up the 50sma would be potential resistance
Bears want to see us follow through down breaking the base lows and the base pivot level set in July of 2024
IWM – fade at the 200 day
Short term expectation is follow through lower
IBIT- negative action with a wide range bar. In a daily down cycle. A rally back up into the declining MAs would be suspect
Bulls want to see us rally higher and make progress with a strong close into the gap
Bears want to see us to bounce weakly or follow through down
Trends (1/4 Up) – Based on the QQQ
Shortest – 10 Day EMA – Below declining
Short-term – 21 ema – Below declining
Intermediate term – 50 sma – Below declining
Longterm – 200 sma – Up – Below declining
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Groups/Sectors
Performance Today from open on the Left, Performance over the past 20 days on the right.
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S&P 500
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Post Market Action. NVDA is basically flat
Leaders and Key Moves
NVDA slight beat EPS and sales. On watch tomorrow. Notice how even with still very strong growth, it is decelerating the past few quarters
TSLA follow through lower. looks to test the 200sma
META Some follow through up,
RDDT still overall forming a range down here against the prior base low. A test of the declining MAs would be suspect. It will need to prove itself and start forming higher lows
PLTR consolidation day, momentum is still downward. Just above the 50
CRWD some follow through up. The sharp decline will need some time to settle
BROS fade off highs, holding above the 21ema
HIMS again this sharp break lower with multiple gaps will need time to heal, constructive that it is holding the base pivot for now but a test of the 21ema is suspect
Stocks Setting Up / Showing RS
ZI Earnings Gap, breaking the 200 day but this is still stage 1 and lots of overhead. One to monitor
MDGL another biotech name
INOD holding well, no setup really here, ideally tightens against the 21ema
DXYZ speculative, the etf that holds some stuff like SpaceX. Positive expectation breaker but still in down cycle, can watch for higher low and pop above the 21
U holding above the 10ema, needs to tighten
SOLV holding the breakout
ZLAB another biotech acting well, would need a handle
CWAN still in this flag, downside reversal today
GRMN still pulling back into the base pivot.
SEI at the pivot
MELI holding the 10ema and base pivot
LLY still acting well. NVO is pulling back to the lower pivot. LLY looks stronger
PAAS as noted miners showing strength. GFI AEM WPM FNV
DOCS tried to push but faded. Still watching how a base develops
AXSM holding
MNDY holding the 21ema. PINS as well
TTWO holding up well post gap
Themes and Leaders
Strongest Themes: Biotech Miners Insurance
Market Thoughts & Focus
Tried to bounce a bit today but couldn’t make much progress. Names trying to hold their 21emas or prior base pivots. It will be interesting to see how NVDA and semis act tomorrow. Earnings not yielding a big move is maybe a plus.
We still are in a downcycle until proven different, today was a bit of a pause after the last few days, where we go from here will be key. Do we rally up or re-confirm through lows. Job claims and PCE later this week.
For me currently sitting on hands watching for RS.
Anything can happen, Day by Day – Managing risk along the way