Rally Follows Through into the 10 EMA
Richard Moglen
Stock Trader & Student of the Markets. I help traders improve their systems & performance at TraderLion & Deepvue
March 17, 2025
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Market Action
QQQ – Some nice follow through higher after Friday’s Positive expectation breaker. We are not up against the 10ema
The short term expectation based on today’s close and recent action is consolidation or higher.
Bulls want to see us strongly follow through up and get to the 200 sma area as market leadership shapes up
Bears want to see us reverse back down lower
Daily Chart of the QQQ:
IWM – follow through now above the 10ema
IBIT- gap down but good action and close
Trends (0/4 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 Increasing
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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
Leaders and Key Moves
Important Note: Many of these “leaders” are leading to the downside. Still they provide a good gauge of market environment. As new leaders reveal themselves I will curate this list.
NVDA downside reversal at the 21ema and closing below, ideally builds a range here
TSLA pull back today, needs to hold the recent range low. Can be set up for a pop above the 10ema
META two consolidation days after the large down day. Below the moving averages, we’ll see which way this recent range breaks
RDDT Reacted to a news event today. Needs to hold the recent range and set a higher low by pushing higher
PLTR up against the 21ema, see if it can pop through or is rejected
OKTA Near the recent range highs now, ideally pauses or shakeouts here and then bursts through
MSTR constructive consolidation day at the 21ema. Needs to push strongly
ROOT tight day, watching for reconfirmation
BABA leader of china theme, breakout from the tight day mentioned in the previous report
Stocks Setting Up / Showing RS
5 Day Slope % Change in Deepvue has been my new favorite way of spotting stocks showing Relative Strength.
Now that this rally is about 5 days old I also like to use Price % Change 5 Days to see what has bounced the hardest.
As mentioned before 1 day of positive action is not enough, we want to look for persistent relative strength and stocks that are forming sound bases in new leading themes.
HSAI great action. Actionable today. idealy tight inside day then reconfirms and trends
RBRK one to watch carefully. Tight day, watching for reconfirmation through the gap high
ASND strong breakout move from a 6 month base. one to watch for follow on entries
VIST part of potential leading theme. Watching for push from two tight days
LMND with ROOT Theme. Ideally inside day then pushes out of this short term range
ADMA fade today but tight close, watching for reconfirmation through the pivot
FUTU china theme, watching for reconfirmation
MP love this tight day after the breakout. Wathcing for reconfirmation or a range to start here which could setup up another spot.
CRK watching for follow through higher
AHR REIT that can move. Setup with inside day below the base pivot
BROS tight range here below the MAs. Watching for reconfirmation up. Still needs to form out this base. I like where it’s at in the lifecycle
WGS inside bar but poor close. Watching for reconfirmation
TGTX tight day watching for re-confrimation or a range to form.
MDGL tight day below the pivot
DOCS tightness against the level, watching for respect
SWTX watching for pop through the 21ema
RPRX watching for a push through the range
ACLX watching for a break from this range
GILD actionable today on oops reversal at the 21ema. Watching for follow through up
PTGX watching for U turn now
Watchlist in List form
Potential Leaders + Mega Caps ( Overall leading to the downside for now)
NVDA, TSLA, META, RDDT, PLTR, OKTA, MSTR, ROOT, BABA
Stock on Watch
HSAI, RBRK, ASND, VIST, LMND, ROOT, ADMA, FUTU, MP, CRK, AHR, BROS, WGS, TGTX, MDGL, DOCS, SWTX, RPRX, ACLX, GILD, PTGX
Themes and Leaders
Strongest Themes: China, Biotech/Pharma, Insurance, Miners, Health Care Equipment, Oil & Gas
Market Thoughts & Focus
Continued constructive action now. Most traditional growth names however are now up against their declining MAs and ideally form higher lows then pop higher.
Openminded that this could be the start of the uptrend or just a bounce that will roll over. Expecting volatility as we have seom news catalysts incoming with the Fed meeting. I would love to see a gap down bought up with a strong close.
Anything can happen, Day by Day – Managing risk along the way