The Market Sells Off

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 DOWN
✗ 10 EMA ✗ 21 EMA ✗ 50 SMA ✗ 200 SMA

Market Action

Very negative day today. Well see how we act tomorrow as well going into the weekend. Cash is king unless putting on select shorts. Not my game. Focusing on just monitoring RS.

Negative close, we could get a very strong snapback and still be in a downtrend.

Remember that this correction will set up some amazing uptrends and opportunities.

QQQ
IWM
Rejected at the 21ema
IBIT
Gap down below the level

Current View: Correction

Groups/Sectors

Theme Tracker
Ranks
DV Leaders Heatmap
S&P Heatmap

Leadership Stocks & Analysis

TSLA
Follow through down
META
Sharp breakdown
MSFT
Downtrend
AAPL
Rejected at the 21
GOOG
Follow through down
AMZN
Rejected at the level
NVDA
Testing lows
SNDK
Negative expectation breaker, testing the 50sma
MU
New Lows
BE
Rejected down agin, testing lows
PL
Inside day. Negative close
XOM
Trending
GEV
Follow through down
LITE
Gap down and testing the 21ema
AAOI
Sharp pullback
FSLY
Downside reversal, still trending above the mas
CRCL
Leaking lower now
DOCN
Very tight day
NXT
Negative expectation breaker

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Key Moves

NAVN
Strong gap on the highest volume ever. New ai product announced.

Setups and Watchlist

ARM
recent catalyst, will be watching how this holds up
DDOG
Monitoring this along with FSLY
DOCN
Acting well, tight day
HIMS
Watching for a push higher
MRNA
Biotech names have been popping up. Watching for a base breakout
OII
Watching for a range breakout
PL
Watching how this gap holds up
SEI
Watching for this flag to hold up
TNK
Gauge for marine shippers
SOLS
Holding up well. Inside day. Monitoring as long as it holds above the 50
YSS
Watching versus the HVC

Watchlist & Themes

Larger Watchlist

ARM DDOG DOCN HIMS MRNA OII PL SEI TNK SOLS YSS NAVN

Additional Thoughts

Market more in breakdown mode now. Just monitoring RS.

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