Crypto Theme Heating Up? QQQ Chopping.
Richard Moglen
Stock Trader & Student of the Markets. I help traders improve their systems & performance at TraderLion & Deepvue
January 18, 2026
14 min read
Market Action
The QQQ is still chopping around as individual names and themes act great. Very mixed market. Space, Small caps, Crypto themes standing out.
The weakness in some mega caps is a negative. They don’t need to lead but likely they need to at least participate if we are to push strongly.
QQQ
Gap up and then push lower testing the 21ema area
IWM
Tight day to end the week. Trending. Up sharply the last two weeks making new highs
IBIT
Break higher through the bottoming base pivot and a retest to end the week. As mentioned before, the crypto theme is an area to be monitoring opportunities.
Trends 3/4 Up – based on the QQQ
Shortest – 10 Day EMA – Below
Short-term – 21 ema – Above
Intermediate term – 50 sma – Above declining
Longterm – 200 sma – Up – Above Rising
Current View: Developing Uptrend
Groups/Sectors
Deepvue Theme Tracker
Bitcoin miners leading the way
Deepvue Leaders Heatmap
Mixed action.
S&P Heatmap
Some flow into reits.
Leadership Stocks & Analysis
TSLA
Downside reversal off the 21ema but also tightening a bit here. Needs to prove itself with a pop through the 21ema.
GOOG
Backtesting the pivot and 10ema. Trending
AAPL
Moving lower from the range. Downtrend currently. Something to note if it snaps back.
META
Still in no mans land. no lower low friday
AMZN
Tightening at the pivot & 21ema after pulling back. expecting expansion next week
INTC
Pulling back but was extended. Normal. likely chops before earnings
PLTR
Downside reversal from the range
NVDA
Despite the downside reversal friday we have a valid gap up. Watching for it to hold this area
MU
Doing what leaders do, leading
BE
Breaking out into new highs. Straight off the bottom so ideally builds a high handle
LLY
Inside day after the range breakdown
MSFT
living below the level for now. forming a range
RKLB
Space theme continues to act great
SNDK
Momentum trending. Would expect some vicious intraday shakes as it gets more short term extended
Key Moves
AGX
Strong breakout. Construction theme
RIOT
Crypto names standing out as they push up from base lows
LEU
Strong Upside reversal
Setups and Watchlist
DOCN
Watching for a range breakout
LMND
Watching for a base breakout. This stock can chop around then go on a momentum move
AXSM
Swing trade idea watching for a range breakout. Biotech is not as strong of a theme as it was.
BIDU
Watching for a consolidation breakout.
WRBY
Watching for follow through up from the upside reversal.
APLD
Actionable Friday. Watching for a range breakout
HUT
Actionable Friday. Watching for a range breakout
SEB
Big increase in volume recently. Can make linear moves. Watching for a range breakout
CIFR
Watching for a range breakout
NBIS
Actionable Friday. Watching for a range breakout
PLAB
Tight day. Watching for a range breakout
TSEM
Watching for a base breakout
Watchlist & Themes
Larger Watchlist
DOCN
LMND
AXSM
BIDU
WRBY
MP
CHYM
APLD
METC
HUT
LEU
SEB
CIFR
INOD
BLLN
NAVN
NBIS
PLAB
TSEM
AMZN
GOOG
NVDA
Daily Focus List
NVDA
DOCN
WRBY
APLD
HUT
Additional Thoughts
Crypto mining theme looks interesting on follow through.