Gap up. QQQ Downside Reversal. AI Theme Expands
Richard Moglen
Stock Trader & Student of the Markets. I help traders improve their systems & performance at TraderLion & Deepvue
September 10, 2025
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Market Action
QQQ – We gapped up to highs before reversing and ultimate closing back near the top of the recent range
Bulls want to see a re-breakout or continue formation of the range
Bears want to see a sharp break lower below this range testing the 10ema with a negative close.
Daily Chart of the QQQ.
IWM – Slight downside reversal but overall more range building riding the 10ema
IBIT – Positive expectation breaker but a fade off highs
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
S&P 500.
Leadership Stocks & Analysis
TSLA Downside reversal as it continues to form a range. Bulls want to see it hold the range/10ema and push higher
AAPL Expansion down breaking the 21ema
PLTR Some follow through up. Back above the MAs
NVDA Gap above the moving averages, ideally holds the 21ema on any pullback and builds out a range to follow through
META Reversal down testing the 21ema, not what you want to see
HOOD Downside reversal, watching for respect of the base pivot area on any pullback
RDDT Expansion higher following through from the inside day
ALAB Push higher with a strong close. Trend above the rising 10ema
MSFT Still Drifting higher below the moving averages. On guard for follow through lower but bulls would want to see a failed breakdown.
Key Moves
ORCL huge gapper on earnings. New highs.
AAOI strong breakout from the watchlist
AEO post gap range breakout
CRWV same space as NBIS has rocketed off lows from a tight area. Short term extended
GEV strong move. VST as well. Popping above the MAs
Setups and Watchlist
NVMI semi choppier trader, watching for a consolidation breakout from the inside day
RKLB watching for a range breakout
TGTX watching for a range breakout. Biotech and below the 200sma
MP downside reversal today still in this range. Make it or break it moment. Watching for a range breakout off the 50sma area
PSKY watching for a range re-breakout. Fast Mover
HNGE watching for a range breakout. needs to push soon otherwise a bit too tight for too long
OUST watching for a range re-breakout or positive expectation breaker
LC watching for a range breakout
TEM watching for a push off the 10ema. This is a very tough one to buy on strength
NBIS very fast mover, watching for an HVC breakout/ intraday spot
Today’s Watchlist in List form
Focus List Names
NVMI RKLB TGTX MP PSKY HNGE OUST LC TEM NBIS
Focus:
TSLA RKLB NBIS
Themes
Strongest Themes: AI, Miners, Software, Energy
Market Thoughts & Focus
Some downside reversals in big cap tech. Noting that we have been up sharply recently and some range building would be warranted. AI theme with semis NBIS CRWV, energy names is the current hot area.
Anything can happen, Day by Day – Managing risk along the way