Market Bounce Continues

Richard Moglen
Richard Moglen

Stock Trader & Student of the Markets. I help traders improve their systems & performance at TraderLion & Deepvue

Market Trend Status
Trend: 4 of 4 UP
✓ 10 EMA ✓ 21 EMA ✓ 50 SMA ✓ 200 SMA

Market Action

The Market bounce continues and I really liked the push off the lows today. We also reclaimed both the 21ema and 50 sma today so we are back above all the MAs. Growth names acted well off lows. Follow through is key now. Can we put in a statement day? Multiple leaders setting up TSLA BE INTC. Semis acting well for the most part see AVGO.

QQQ
undercut and rally of the prior low and then a strong close above the MAs.
IWM
Powerful move higher. Testing a key level now. Would expect some consolidation soon.
IBIT
Inside day within this bounce. Still below the MAs

Trends 4/4 Up – based on the QQQ

Shortest – 10 Day EMA –   Above
Short-term – 21 ema – Above
Intermediate term – 50 sma – Above
Longterm – 200 sma – Up – Above Rising

Groups/Sectors

THEME TRACKER
Genomics and Semis keep bouncing.
DEEPVUE LEADERS HEATMAP
Strong Action. Retail stands out
S&P Heatmap
Utilities the main weakness

Leadership Stocks & Analysis

TSLA
Inside Day just below the 21ema. Expecting expansion and watching for a 21ema pop. Actionable today after the opening pull in.
GOOG
Strongest. Trending btu a bit stretched above the MAs
AAPL
Fade at the consolidation pivot.
META
Follow through and reclaim of the 21ema. Expecting a pause after this expansion
AMZN
Reclaiming the 50, testing the 21
INTC
Tight day, watching for a 21ema pop
PLTR
Good action, still below the MAs
NVDA
Big upside reversal. Strong action after the gap down. Needs to tighten and reclaim the MAs
AMD
Another undercut and reclaim of the Gap low & close, watching for follow through up
VRT
Potential higher low set today, watching for a reclaim of the MAs
MU
Consolidation Day at the 21ema. Watching for expansion
BE
Upside reversal. Watching for expansion higher
LLY
Bio & Pharma Leading & Trending

Key Moves

SYM
Strong Earnings Gap
ANF
Powerful gap off lows
RDDT
Reclaim of the 50 sma

Setups and Watchlist

APPN
Watching for a post gap range breakout
EOSE
Watching for a range breakout
LEU
Watching for a range breakout. Bottoming range.
TVTX
Watching for a consolidation breakout
VICR
Watching for a range breakout
JAZZ
Watching for a range breakout
TER
Watching for a range breakout
CRK
Watching for a range breakout
OPEN
Watching for a pivot breakout
FSLR
Watching for a range breakout

Watchlist & Themes

Larger List

APPN EOSE LEU TVTX VICR JAZZ TER CRK OPEN FSLR INTC BE AMD TSLA

Daily Focus List

TSLA INTC FSLR LEU

Universe List

AAPL ALAB AMD AMZN APLD ARM BABA BE BKKT CCJ CLSK CRDO CRS DELL FIX FLS FSLR GGAL GOOG GOOGL GRAL HOOD HUT INSM INTC LEU LMND MELI META MSFT MU NBIS NET NIO NVDA OPEN PATH PLTR QCOM RGTI RKLB RMBS SHOP SNDK SNOW SOUN STNG STRL STUB TAC TEM TER TWLO VRT MDGL RIVN SEDG TDC VCYT U QLYS NXT DDOG METC TXG ASTS CRWD FLY CSIQ RDDT ANF

Recent Gaps

AKAM GCT FROG PGNY TDC QLYS VCYT RIVN U SANM CAH ILMN TWLO NET AMZN RDDT SLDP BE FLS YPF GGAL VIST AMD VICR ISRG PEGA INTC CRS PBF GTX LC MEDP QCOM DDOG LMND XMTR SITM DOCN COHR HAE APPN HCC EXPE PLNT PAM GH VIAV AMGN TXG ROK BBAI OPEN DY ANF

Additional Thoughts

Encouraged with what I’m seeing. More speculative names like NBIS APLD look to be bottoming. Now we are watching for reconfirmation. I think traders should be building positions and testing the waters.

Recent Trade Lab Reports

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