Consolidation Day
Richard Moglen
Stock Trader & Student of the Markets. I help traders improve their systems & performance at TraderLion & Deepvue
December 26, 2024
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Market Action
Note, dude to an error with the DV data provider which we are switching from, the Tuesday half session is not showing on DV charts. We are transitioning away in January and the data will be back tomorrow.
QQQ – consolidation day after the tuesday push higher
Short Term Expectation based on the close is consolidation or higher. Would love reconfirmation up
Bulls want to see us follow through higher and close the year strong
Bears want to see us reverse lower testing the 21ema
IWM -nice move higher from the range
Bulls want to follow through up or flag out and reconfirm
Bears want to see us break lower back into the range
IBIT- pullback after Tuesday pos expectation breaker. Tight day
Bulls want to see us follow through higher
Bears want to see us reverse lower
Trends (4/4 Up)
Shortest – 10 Day EMA – Up Above Rising
Short-term – 21 ema – Up Above Rising
Intermediate term – 50 sma -Up Above Rising
Longterm – 200 sma – Up – Above Rising
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Groups/Sectors
Performance Today on the Left, Performance over the past 20 days on the right.
Performance Charts from Deepvue
Deepvue Leaders Heatmap
S&P 500
Group Ranks: 1 Day, 1 Week, 1 Month, 3 Month from left to right. This is now a preset for Deepvue Members
Leaders and Key Moves
NVDA above the 21ema after the push through
ALAB continuation higher
PLTR tight day near highs
Stocks Setting Up
AFRM watching for follow through up
APP tight, watching for push higher
BE tight on the 21
CRWD still tight near this pivot
DDOG watching for pop through the 21
GEO tight day, watching for push higher on volume
GEV watching for a break above the pivot
SHOP watching for pop through the 21
RBRK sitting on top of the range, watching for a reconfirm
RBLX tight range at the 21ema
MSTR watching for a break from this range and through the 21ema
BILL watching for follow through
Themes and Leaders
Key Themes: Software, AI
Liquid Leaders
These names have the top RS, growth stories
TSLA PLTR RDDT ALAB APP DOCS GEV
Performance Enhancers
SOUN QMCO RGTI RUM
Market Thoughts & Focus
Some consolidation today but overall good session. Still a decent about of names near tight ranges at the 21ema. Let’s see us close the week strong
Daily Focus is on GEV, MSTR, APP
Anything can happen, Day by Day – Managing risk along the way
I hope everyone had a great Christmas!