And More Chop
Richard Moglen
Stock Trader & Student of the Markets. I help traders improve their systems & performance at TraderLion & Deepvue
October 16, 2025
Market Action
QQQ – More choppiness with a very similar daily bar to yesterday. Wide range and testing the 21ema. As mentioned, the sell bar last Friday still gives me pause. Bars like that typically precede choppy/corrective periods.
I believe the short term direction will be shown soon. Recent moves have not followed through to the upside much.
Bulls want to see us hold above the 21ema at week end and continue trending
Bears want to see us reconfirm down, likely with additional negative news catalysts.
Daily Chart of the QQQ.
IWM – Reversal down below the pivot. Failed breakout for now
IBIT – Reconfirmation down from the inside day
Trends (3/4 Up) – Based on the QQQ
Shortest – 10 Day EMA – Below
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 – very tight here at the 21ema. Expecting expansion shortly. Earnings are coming up as well.
AAPL forming a range here below the 21ema. Watching for expansion.
PLTR still choppy here in this consolidation. Expecting expansion. 2 straight downside reversals
NVDA inside day and sitting on the 50sma.
META wide range bar and still in this range
HOOD push through the 21ema. Volume is light.
RDDT still in this range but looking vulnerable unless it can hold here. Unfilled gap above and in a downcycle. Expecting expansion tomorrow
ALAB starting to form a range down here. No follow through lower thus far but below a declining 21ema
MSFT choppy range here below the pivot. So far has failed to move up the right side.
Key Moves
GRAL gap up as it trends powerfully above the 10ema. Short 10ema range 2 days ago. Feels short term stretched
EGO and miners still acting well. GLD still trending.
Setups and Watchlist
NTSK watching for a range breakout
REZI watching for a range breakout.
PI watching for a base breakout
Today’s Watchlist in List form
Focus List Names
NTSK PI REZI PLTR HOOD TSLA
Focus:
TSLA
Themes
AI, AI Energy, rare metals, gold miners, biotech
Additional Thoughts
Chop Chop. Less is more until we really get direction. Earnings season is upon us which likely would be the next strong opportunities but also a good tell for the risk appetite.
Anything can happen, Day by Day – Managing risk along the way
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