Constructive End to the Week
Richard Moglen
Stock Trader & Student of the Markets. I help traders improve their systems & performance at TraderLion & Deepvue
May 2, 2025
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Market Action
QQQ – Positive expectation breaker today and closing just below the 200 sma. Growth names similar rebounded strongly from yesterday’s closes.
The expectation based on the close and recent action is sideways or higher. Watching how we act versus the 200 sma
Bulls want to see us build sideways or pop through the 200sma
Bears want to reverse down off the 200sma.
Daily Chart of the QQQ.
IWM – Pop through the 50sma
IBIT – Holding. Some air to the 10ema
Trends (2/4 Up) – Based on the QQQ
Shortest – 10 Day EMA – Above Rising
Short-term – 21 ema – Above Rising
Intermediate term – 50 sma – Above declining
Longterm – 200 sma – Up – Below declining
Groups/Sectors
Deepvue Theme Tracker
Deepvue Leaders Heatmap
S&P 500.
Leaders and Key Moves
TSLA Some fade off highs but looks setup here in a range below the 200 sma
PLTR Strongest leader. Approaching the base pivot ahead of earnings monday.
NVDA Pos Expectation Breaker and tight day. Watching for reconfirmation higher
META Positive Expectation Breaker off the 200sma
HOOD Holding. I took a small loss on this yesterday. Forming a range below the pivot. On watch for next week
CRWD Trending towards the base pivot. Some wedging action the last few days
TGTX Example of the dangers of entering on base pivots as opposed tpo early entries near the 21ema, Nothing wrong as long as it holds the 10ema
MSTR Inside day, trending
UBER Base Breakout
Stocks Setting Up / Showing RS
TEM one to watch on earnings
DUOL significant earnings gap and base breakout to new highs. I’ll be watching for a range
SDGR one to watch for earnings
OKTA I want to see the 10ema catch up. Watching for a range breakout
LOAR watching for follow through higher.
VRNA forming a range, I’d like to see the 21ema catch up
SPOT strong breakout
BULL range breakout, watching for follow through
NMAX watching for a range breakout
CRWV can watch for another opportunity up the right side of the ipo base
TMDX watching for a range brekout and earnings more
ROOT watching for an earnings move
Today’s Watchlist in List form
Key Names
NVDA, TSLA, META, PLTR, MSTR, CRWD, GOOG TGTX
EM, DUOL, SDGR, OKTA, LOAR, VRNA, SPOT, BULL, NMAX, CRWV, TMDX, ROOT
Focus:
HOOD TSLA
Themes and Leaders
Strongest Themes: BTC, Miners, Cyber Software
Market Thoughts & Focus
Nice bounce back today and growth names continue to act well. Lots of names to watch next week on earnings and we will see how the market handles the 200sma area. Some pause would set up some nice charts but we will play it as it lies.
Earnings season will be a good test as well and could provide some great gapper opportunities up the right sides of bases
Anything can happen, Day by Day – Managing risk along the way