Crypto Stocks Drop – Mixed Messages from Market Leaders
Richard Moglen
Stock Trader & Student of the Markets. I help traders improve their systems & performance at TraderLion & Deepvue
November 26, 2024
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Market Action
QQQ – Inside day and positive expectation breaker. we shall see which way this resolves. Still above the moving averages
Short Term Expectation based on the close is consolidation or higher
Bulls want to see us build sideways or follow through up
Bears want to see us break lower and undercut the moving averages
IWM – some follow through down but a decent close. QQQE looks more like this as well
Bulls would want to us constructively flag out sideways and then reconfirm higher
Bears want to see a large drop back towards the moving averages
IBIT- Gap down and attempted rally before a close at the lows. Watching for a spot to form where risk can be managed, potentially at the 21ema
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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
From yesterday’s close on the left, over last 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
Post Market Gap Ups and Gap Downs – CRWD, DELL down – AMBA up – gapper to watch tomorrow
Key Stocks and Moves in Deepvue
NVDA tight consolidation day above the 50 sma. Can it build here or follow through down
TSLA still in this range above the 10ema
META peeking above the 21ema
AMZN very strong bar – be a good one to watch to see if we get follow through
MSTR drop to the 21ema, also lines up with the top of the prior tight range, see if it builds here
RDDT follow through down, below the mini base pivot and first close below the 10ema in quite some time
APP no follow through lower for now, tightening
PLTR good action, upside reversal
HOOD follow through down, trending above the 10ema
HIMS tight day
SMTC strong gap, great EPS growth
DOCS powerful bar off the 21ema area
CEG strong move, RMV5=0 yesterday
RKLB still trending post green line breakout
GEV no follow through lower, in this choppy consolidation
GME pivot breakout but fade off highs, was mentioned in the report on the recent tight inside day
Stocks Setting Up
BILL tightening, would like a shakeout below the pivot or more flagging sideways
CXW nice flagging action post catalyst gap
GEO bit of a fade but constructive pullback so far, watching for a push higher
SE tight action but more of a swing trade setup if it can push higher
SNOW flagging post gap up.
PODD still in range, could not quite push higher
DAVE post gap consolidation, tight range
UPST inside day – swing trade setup
XPO nice action and upside reversal in this range. Near ATHs
COIN weak with crypto but forming a range above the base pivot
ESTC post gap flag
LYFT tight inside day
CRWD down after earnings at the 21ema, see how it acts tomorrow and potentially puts in a reversal
HUT crypto miner also a consolidation above the base pivot
SQ pulling in to the 10ema and close to the base pivot
WGS tight day in this consolidation
VST flag into the 10ema
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
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
Market Thoughts
Mixed action today, some leaders acting well others still pulling in. Holiday week. See how we close Friday.
Day by Day – Managing risk along the way