Leaders Act Well – Up Against the 50 SMA
Richard Moglen
Stock Trader & Student of the Markets. I help traders improve their systems & performance at TraderLion & Deepvue
April 29, 2025
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Market Action
QQQ – Good market action today with a close near the 50 sma. We are at a key level for this rally. I’m aware that we are up strongly over the past few days and some pause would be warranted. Also mentally prepared for if we get a stress test.
The expectation based on the close and recent action is sideways for higher.
Bulls want to continue higher or tighten sideways letting the 21ema catch up in support
Bears want to reverse down off the 50sma area and break below the 21ema
Daily Chart of the QQQ.
IWM – Also at a key level
IBIT – Starting to form a range here
Trends (2/4 Up) – Based on the QQQ
Shortest – 10 Day EMA – Above Rising
Short-term – 21 ema – Above Rising
Intermediate term – 50 sma – Below declining
Longterm – 200 sma – Up – Below declining
Groups/Sectors
Deepvue Theme Tracker
Deepvue Leaders Heatmap
S&P 500.
Leaders and Key Moves
TSLA constructive watching for continuation up
PLTR strong action. Expecting a pullback, Ideally drifts sideways before earnings coming up
NVDA tight above the 21ema, expecting a directional move
META Similar, tight at the 21ema
MSTR Trending higher
CRWD continuing higher, watching for a pullback
TGTX Breakout! Watching for follow through
GOOG Pulling into the 21ema
HOOD tight below the level before earnings
UBER Some follow through up
Stocks Setting Up / Showing RS
TTAN pulling back into the 10ema, watching for follow through up
SDGR tight inside day. Needs to hold the 10ema area, watching for a breakout
TEM watching for it to hold here and reconfirm. Earnings upcoming
HIMS News catalyst with NVO today. Watching for follow through higher. Respecting the prior base pivot
CRWV squat today, watching for the re-breakout
SPOT gap down on earnings but good close, see it it can build above the 21ema
GGAL watching for a bounce here
GEV earnigns out of the way, tightening below the level. Does have the gap flaw
BULL another ipo to watch carefully for faster traders. Gap and Go or tight range breakout. Could reverse any day
TMDX Watching for follow through up
INOD watching for a pop higher from the range. GRAL also similar
ROOR watching for a pop higher from the range
Today’s Watchlist in List form
Key Names
NVDA, TSLA, META, PLTR, MSTR, CRWD, GOOG TGTX
TTAN, SDGR, TEM, HIMS, CRWV, SPOT, GGAL, GEV, BULL, TMDX, INOD, GRAL, ROOR
Focus:
CRWV GEV HIMS
Themes and Leaders
Strongest Themes: BTC, Miners, Cyber Software
Market Thoughts & Focus
Good action today. Leaders acting well above MAs but in the very ST a bit stretched.
Same idea as before. Ideally we consolidate some more and then earnings season could provide some fresh momentum. On a pullback you would want to see things hold their 10emas if trending now or 21emas if still building.
Still mentally prepared for a large down day stress test. We did pull in today but things closed well.
Know the cushion you have in positions and how you would handle each if things drop in a morning down 3% plus. A move lower would be a chance to add slightly to core positions or top ideas. How key names like PLTR TSLA CRWD act on a big red day will give us valuable information about the strength of this rally.
Earnings season is getting underway which could provide some great gapper opportunities up the right sides of bases
Anything can happen, Day by Day – Managing risk along the way