The Market Falls 6% More
Richard Moglen
Stock Trader & Student of the Markets. I help traders improve their systems & performance at TraderLion & Deepvue
April 4, 2025
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Market Action
QQQ – The Market followed through down with a gap and closed near lows. This is accelerated selling. We are getting stretched but in a crash type scenario all bets are off. Day trading market or even better a cash market is best.
The short term expectation based on today’s close is follow through down. Continuing to expect volatility especially as risk is increased of news catalysts.
Bulls want to see us reverse strongly higher ideally after a large move down and have a resolution of the tariff situation
Bears want to see us follow through lower
Daily Chart of the QQQ.
IWM – gap down, some bounce off lows
IBIT- Interesting relative strength today, however holding crypto overnight in a risk off environment has it’s own risks
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
Groups/Sectors
Performance Today from open on the Left, Performance over the past 20 days on the right.
Performance Charts from Deepvue
Prebuilt Deepvue Theme Tracker
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 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 Extension down
TSLA down 10% but holding above previous low for now
META Further gap lower
PLTR Break lower
MSTR Upside reversal
BABA gap down, unable to retake the 21ema was a tell
TGTX holding the bas pivot for now.
Stocks Showing RS
Even through the market is in a correction, it’s best practice to continue to monitor for persistent RS and developing themes. Tracking names every day will point you to the leaders early as the market is entering it’s last stage of the correction.
However just because a stock is showing RS means it is buyable, and RS matters most in the later third of a correction.
RKT strong on volume
GRPN pulling back to the 21ema
PFSI holding above the 21ema
COOP holding up well but already well in a trend
VITL in big base
LW food products group acting well
CELH holding up well for now at the 200sma
Today’s Watchlist in List form
Potential Leaders + Mega Caps ( Overall leading to the downside for now)
NVDA, TSLA, META, PLTR, MSTR, BABA, TGTX
Stock on Watch
RKT GRPN CELH LW COOP VITL
Themes and Leaders
Strongest Themes: Miners, Oil & Gas, Insurance, Health Care Equipment, China, Biotech/Pharma,
Miners took a hit today
Market Thoughts & Focus
Another very negative day. Expecting large bounces at some point but the prevailing trend is down for now with a lot of uncertainty due to external factors.
For most traders less is more unless you are confident and capable actively day trading.
I’m continuing to monitor RS although I know that stocks showing up right now are unlikely to be the best names. This preparation each day will set me ahead when the market begins to look to turn.
Anything can happen, Day by Day – Managing risk along the way