Crypto Failure after 100k Hype – What’s Next for IBIT COIN MSTR
Richard Moglen
Stock Trader & Student of the Markets. I help traders improve their systems & performance at TraderLion & Deepvue
December 5, 2024
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Market Action
QQQ – slight downside reversal but overall tight action, ideally flags out sideways to work off short term extension letting the 10ema catch up
Short Term Expectation based on the close is consolidation or lower
Bulls want to see us constructively move sideways tightly, then reconfirm
Bears want to see us follow through down
IWM – Break below the flag and 10ema
Bulls would want to see us quickly recover, positive expectation breaker or upside reversal
Bears want to see us follow through down
IBIT- downside reversal and filled the gap, looks like more basing in order
Bulls want to see and positive expectation breaker with a gap up and strong action tomorrow
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Bears want to see follow through lower and acceleration to the downside
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
Post Market Movers. ASAN RBRK DOCU GTLB up, PATH IOT down
Key Stocks and Moves in Deepvue
NVDA tight day after the move off the 21ema
TSLA follow through up and breakout, see if it can push higher
META downside reversal but above this pivot
AMZN new highs, a bit short term stretched
MSTR gap reversal down
COIN also reversal down and retesting the pivot
SOUN expansion higher, low risk areas near tight flags into emas
RBLX powerful move
GME volatile day with roaring kitty tweet, tight signal yesterday
BILL nice follow through
SHAK move from tight area
GPOR follow through up
CCJ push higher
UBER big volume breakdown. LYFT as well. WAYMO expansion news
Stocks Setting Up
AI fade but tight close
AA upside reversal at base pivot
BE tight area
CRS tight flag into 10ema, swing trade setup
QFIN swing trade type name and china related. tight day
SHOP tight inside day below the pivot
GAP tight range after the gap
QMCO more just putting this on here to watch
VST fade but tight day
RDDT tight below highs, and upside reversal in this range would mature it slightly
CRDO watching for push higher from this range
UPST tight 2 days setting up a spot for a swing trader, no follow through lower
DAVE tight day after the upside reversal
SNOW tight day, can watch for reconfirmation or retest of the piovt
LEU base needs to mature a bit but getting on my radar
WGS powerful trend and settign up a base
Themes and Leaders
Key Themes
Crypto, Fintech, Software, AI, Semis, Alt Energy
These names have the top RS, growth stories
TSLA PLTR HOOD MSTR COIN RDDT APP DUOL NVDA AXON FTNT DASH SHOP GEV VST VRT
Recent Earnings gaps and powerful moves
These names are good to watch for pullback spots
AAOI APP AXON BROS COIN GEO IONQ UPST TEM BILL DOCS FRSH LUMN ALAB PLTR SOUN LYFT TSLA HOOD POWL Z AX AMSC LUNR PLNT TOST CRDO COHR RDDT RKLB TRMB VST WVE CEIX LMND MSTR SOFI VRT FTNT MCK DFS MLI CADE HIMS MARA HUT ROOT CRS FHN HQY PODD UPWK GEV OKLO NTNX DOCU FN DUOL GDS FOUR SHOP RKLB SNOW ESTC SMTC PSTG OKTA MRVL GAP NVCR
Market Thoughts & Focus
Crypto theme in focus and expectation of further weakness there. See if COIN and MSTR can stabalize
BE UPST likely my daily focus list – not too pressed to add more exposure.
Anything can happen, Day by Day – Managing risk along the way