The Market Sells Off

Richard Moglen
Richard Moglen

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

December 12, 2025
14 min read
Market Trend Status
Trend: 2 of 4 UP
✗ 10 EMA ✗ 21 EMA ✓ 50 SMA ✓ 200 SMA

Market Action

A lot can change in a day… We were watching for follow through higher, for the market to show it’s strength and that institutions were adding exposure after the fed catalyst. Instead we got a gap down and a sell off. Leaders took bigger hits especially in the AI space. This is a negative.

We were in a developing uptrend but now that is under pressure with the QQQ being under the 21ema.

Biotechs still coiled but in the growth space there is not much. I’ve included my RS list below.

Less is more for growth trading until leaders shape up. Unless we see a very strong snapback early next week.

The QQQ is testing a key level and the 50sma, key spots to watch early next week for respect.

QQQ
Negative Expectation breaker and sharp selloff breaking below the 10 and 21ema. Testing the prior key level and 50sma.
QQQ chart
IWM
Reversal down, testing the base pivot area
IWM chart
IBIT
Downside reversal as it stays in this bottoming base. Close near lows
IBIT chart

Trends 2/4 Up – based on the QQQ

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

Current View: Developing Uptrend (Under Pressure)

Groups/Sectors

Deepvue THEME Tracker
Semis and Growth stocks hit hard
Deepvue THEME Tracker
Deepvue Leaders Heatmap
Mostly Distribution. YOU RIVN standout
Deepvue Leaders Heatmap
S&P HEATMAP
Semis hit hard
S&P HEATMAP
Post Movers
TLRY and Weed theme strong today and after hours on potential reclassification.
Post Movers

Leadership Stocks & Analysis

TSLA
One of the strongest growth names today looking to push out of this handle. How this acts early next week will be telling.
TSLA chart
GOOG
Holding above the 21ema
GOOG chart
GOOG
Tight setup day in this range. Expecting Expansion early next week.
GOOG chart
META
Tightening here below on the 21ema
META chart
AMZN
Tight day resolved down, below the MAs
AMZN chart
INTC
The weakness in this pullback was reconfirmed today as we broke sharply lower below the 21
INTC chart
PLTR
Holding up better than most with a good push off intraday lows. Still forming a range near the prior base pivot.
PLTR chart
NVDA
Sharp downside reversal off the base pivot area. Not a good look
NVDA chart
MU
Failed breakout
MU chart
BE
Negative expectation breaker and reversal off the 21ema area
BE chart
LLY
Biotech liquid leader acting well.
LLY chart
AVGO
Ending up gapping down and selling off further. Not a good look
AVGO chart
FSLR
Sharp reversal and failed range breakout from the Solar leader.
FSLR chart

Key Moves

YOU
Strong gap and go on a new contract news catalyst. Base Breakout. Nice Weekly chart
YOU chart
RIVN
Strong action relative to the market. AI day yesterday
RIVN chart
SEI
AI & Energy Theme names took a hit today, especially faster movers.
SEI chart

Setups and Watchlist

KSS
Retail theme, Watching for a range breakout/ undercut and rally of the 10ema
KSS chart
HNGE
Watching for a range breakout
HNGE chart
TARS
Watching for a range re-breakout
TARS chart
COCO
Watching for a range breakout
COCO chart
GH
Watching for a range breakout & push off the 21ema
GH chart
JAZZ
Watching for a range breakout
JAZZ chart
NTRA
Watching for a bounce off the 21ema
NTRA chart
TVTX
Watching for a range breakout
TVTX chart
GEV
Watching for a reclaim of the base pivot. Want to keep this one on the radar
GEV chart

Watchlist & Themes

Larger Watchlist

KSS HNGE TARS COCO GH JAZZ NTRA TVTX GEV TSLA

Relative Strength List (Growth type names sticking out)

MDB TDC PL GEMI RIVN YOU TSLA GSAT ASTS GEV

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 BTU FROG LRCX LUMN REAL UPWK VICR SANM INOD GSAT JAZZ APPN COLL ESTA SMTC DOCN TSLA DY GEV WGS AMTM EGO KSS FLNC CIFR AEIS BKV LSCC EOSE PL TVTX PARR SEI LLY HCC CLS TTAN HOUS RGEN MDB GEMI YOU HNGE TARS COCO GH NTRA

Recent Gaps

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

Additional Thoughts

In the semi, AI, growth space not much is going on outside of TSLA and isolated charts. Biotech still holding up. As mentioned before less is more until the market proves itself. Early next week should provide more info.

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