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Market Breaking Down

Richard Moglen
Richard Moglen

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

March 8, 2026
13 min read
Market Trend Status
Trend: 3 of 4 UP
✓ 10 EMA ✓ 21 EMA ✓ 50 SMA ✗ 200 SMA

Market Action

The Market is set to gap down in a big way. Have a plan for the open wether is to take defensive action if you still have exposure or to do nothing. Oil the dominant theme currently. Software will some interesting moves but still in longer term downtrends. Less is more until the dust settles.

A strong close tomorrow after the gap down would be a positive, but no rush to do anything.

QQQ
Gap down and fade off highs. Weak close
QQQ chart
IWM
Gap down and making new lows
IWM chart
IBIT
Gap down
IBIT chart

Current View: Correction

Groups/Sectors

DeePvue Theme Tracker
DeePvue Theme Tracker
Ranks
Oil and Gas themes leading
Ranks
DV Leaders Heatmap
Space theme among the strongest
DV Leaders Heatmap
S&P Heatmap
S&P Heatmap

Leadership Stocks & Analysis

TSLA
Testing the 200sma area again
TSLA chart
META
Gap down below the MAs
META chart
MSFT
Testing the 21ema. longer term downtrend
MSFT chart
AAPL
Pulling back, below the MAs. Decent close
AAPL chart
GOOG
At a key level. below the MAs
GOOG chart
AMZN
Reversing the recent move. Testing the level
AMZN chart
NVDA
Testing the 200sma area
NVDA chart
SNDK
Below the recent consolidation low
SNDK chart
MU
Close below the 50sma
MU chart
BE
Sharp break lower below the level and recent range
BE chart
PL
Decent action but fade off highs
PL chart
PAAS
Upside reversal at the 50
PAAS chart
RKLB
Fade off the key level
RKLB chart
XOM
Downside reversal but still in this consolidation. Oil theme leading
XOM chart
GEV
Fade off highs, below the 21ema
GEV chart
LITE
Sharp break below the 21ema
LITE chart

Key Moves

IOT
IOT strong gap and large volume
IOT chart
TER
Sharp break lower. Had been a leading semi
TER chart

Setups and Watchlist

CENX
CENX chart
DELL
DELL chart
KNTK
Looking to start a Stage 2
KNTK chart
TPL
Watching for a range breakout
TPL chart
NBR
Watching for a rang breakout
NBR chart
YOU
Watching for a 10ema pullback and rally
YOU chart
SPHR
Watching for a range breakout
SPHR chart
VRT
A name to keep an eye on
VRT chart
STNG
Watching for a bounce off the 21ema
STNG chart

Watchlist & Themes

RS/Larger Watchlist

CENX DELL KNTK TPL NBR YOU SPHR VRT STNG

Daily Focus List

TPL STNG MENTTAL_CAPITAL

Additional Thoughts

Not in any rush to make any moves. We’ll see how the gap down plays out and how the dust settles.

Recent Trade Lab Reports

  • Holding and Re-confirmation
    April 9, 2026
    15 min read

  • Gap up above the 50 and 200 SMA
    April 8, 2026
    13 min read

  • Upside Reversal. 2 Week Ceasefire. Market Set to Gap up
    April 7, 2026
    14 min read

  • Market Coiled at Key Levels. Make or Break for the Rally
    April 6, 2026
    13 min read
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