Powell Fired Rumor. Market Upside Reversal
Richard Moglen
Stock Trader & Student of the Markets. I help traders improve their systems & performance at TraderLion & Deepvue
July 16, 2025
Market Action
QQQ – Initially follow through down after a rumor Powell was fired. However the market closed strong near the open & highs
Bulls want to see us follow through to the upside
Bears want to see us reversal lower and close belwo the 10ema
Daily Chart of the QQQ.
IWM – upside reversal holding the 21ema
IBIT – positive expectation breaker. Watching for tightening action and then resumed trend
Trends (4/4 Up) – Based on the QQQ
Shortest – 10 Day EMA – Above
Short-term – 21 ema – Above
Intermediate term – 50 sma – Above Rising
Longterm – 200 sma – Up – Above Rising
Groups/Sectors
Deepvue Theme Tracker
Deepvue Leaders Heatmap
S&P 500.
Leadership
TSLA positive expectation breaker as it forms a wider range above the 21ema area.
PLTR trending
NVDA tight upside reversal respecting the gap for now
META closing below the recent pivot.
HOOD continues to trend. A significant close below the 10ema would be a character change
MSTR forming a range after the push up, ideally builds out a bit more but watching for reconfirmation
CRWD still below the 21ema and at the 50
Key Moves
CRCL range breakout
KRMN strong positive expectation breaker
Setups and Watchlist
ALAB watching for follow through up
CRWV watching for a range breakout & pop through the 21. Make it or break it point
RDDT watching for a follow through up
Today’s Watchlist in List form
Key Names
NVDA, TSLA, META, PLTR, MSTR, CRWD UBER HOOD
ALAB CRWV RDDT
Focus:
MSTR RDDT CRWV
Themes
Strongest Themes: BTC, Miners, Software, Cyber, Nuclear Power
Market Thoughts & Focus
Not seeing many setups today going through screens. Comment below if you see any I may have missed.
Anything can happen, Day by Day – Managing risk along the way
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