Downside Reversals Ahead of Key Interest Rate Decision

Market Action

QQQ – Downside reversal at a key level here ahead of the interest rate decision tomorrow

Short Term Expectation based on the close is lower/consolidation. News catalyst so sharp reversals can happen tomorrow

IWM – gap up and big fade off highss

Trends (4/4 Up)

Shortest – 10 Day EMA – Above Rising
Short-term – 21 ema – Above Rising
Intermediate term – 50 sma – Above Declining
Longterm – 200 sma – Up – Above Rising

Groups/Sectors – % Change from Open

Performance Charts from Deepvue

Heatmap from Deepvue

Oil theme strongest

Key Stocks in Deepvue

NVDA downside reversal after the gap up. Close right near the 21ema. Key level with the AVWAP as well.

CAVA still holding the rising 10 ema

VNOM oil names all with big bars, potential trend change.

ZIM push from short tight range

RDDT good close and move from range

KVYO great follow through

TMDX retake of 21ema and forming a range

FSLR a bit of follow through

IOT short range post base breakout

CRS forming a base

GDS from yesterday’s list, top mover today on gap and go

QFIN swing trade idea, tight range

APLD volatile name still forming this flag. Downside reversal

TSLA tried but faded

VRT first significant base started to move up the right side. Has to work through some overhead. Would like to see it tighten more

LTH shirt flag on right side of stubby base

LNTH pullback into the moving averages. Orange line is prior highs

Market Thoughts

Some fades and indecision before tomorrows news catalyst. Expect anything tomorrow

Day by Day – Managing risk along the way