Choppy Inside Day

Richard Moglen
Richard Moglen

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

Market Trend Status
Trend: 1 of 4 DOWN
✗ 10 EMA ✗ 21 EMA ✗ 50 SMA ✓ 200 SMA

Market Action

Choppy inside day with a fade off highs. Below the 50sma now on the QQQ. Overall we are pulling back/basing since Oct 29

Growth names work best in trending environments. Don’t push things without positive trade feedback.

QQQ
Choppy inside day with a fade off highs closing below the 50sma.
IWM
Break lower undercutting the friday low.
IBIT
Follow through down. Below all the MAs, needs to form a base bottom.

Groups/Sectors

THEME TRACKER
Biotech continues to be the strongest group.
Theme Bubble Chart

Leadership Stocks & Analysis

TSLA
Looked very strong off the open but did fade back below the prior flat base low. Overall did show RS versus most growth names today.
AAPL
Break lower below the 10ema and testing the 21ema. Has been holding up very well.
AMZN
Upside reversal off the 50sma, a key area for it to hold.
META
In a downtrend below the MAs. Overall a consolidation day
GOOG
Gap up but a fade off highs after trying to push higher. Best RS among the Megacaps
NVDA
Inside day above the base pivot. Earnings upcoming. Whippy action overall
AMD
My focus among semis. inside day on the 21ema but a fade off highs. Watching for a break from this flag.
PLTR
Inside Day. Below all the MAs
INTC
testing the prior key low and 50sma again. Below the 21ema
MU
Downside reversal after making a new high. Trending above the 21ema. Watching out for follow through lower
BE
Tight inside day just above the 50sma. Expecting expansion tomorrow.
VRT
Inside day with a fade off highs in between the 21ema and 50sma
LLY
Trending strongly above the MAs.

Key Moves

JAZZ
Strong gap up on huge volume. Cancer drug news catalyst
PGNY
Continues the power move since earnings.

Setups and Watchlist

BBIO
Swing Trade idea in the leading theme. Watching for a range breakout through recent highs
TER
Watching for a reclaim of the HVC level.
FSLR
Solar Theme. Watching for expansion through recent highs. Would not mind a larger base to develop here.
EXAS
Watching for a range breakout. Many bios have this look
GMED
Watching for a post gap flag breakout
BTU
Watching for a pop higher through the 2 recent highs
DDOG
Watching for a push higher off the 10ema.
PAM
Watching for a consolidation breakout
SEI
Fast mover, watching for a range breakout
VICR
Watching for a range breakout
STNG
Tight day. Watching for a base re-breakout

Watchlist & Themes

Larger Watchlist (Updated Daily)

BBIO TER FSLR EXAS GMED BTU DDOG PAM SEI VICR STNG BE TSLA AMD

Daily Focus List (Top Watch for the next day)

AMD BBIO TSLA

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

Recent Gappers

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

Additional Thoughts

Still a less is more market overall. Will try AMD tomorrow if it pushes higher off the open and see if it sticks.

Recent Trade Lab Reports

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