End of Year Chop Continues – Leaders Holding Up
Richard Moglen
Stock Trader & Student of the Markets. I help traders improve their systems & performance at TraderLion & Deepvue
January 1, 2025
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Market Action
QQQ – Follow through down to end the year and testing the 50 sma. We’ll see if we can build in this area. Down sharply over the last 4 days
Short Term Expectation based on the close is consolidation or lower.
Bulls want to see us reverse up sharply or build a range at the 50sma
Bears want to see us follow through lower below the 50sma
IWM – still in this range
Bulls want to see us follow through up
Bears want to see us undercut the monday low
IBIT- gap up but close near lows after testing the 21ema.
Bulls want to see us follow through up above the 21
Bears want to see us follow through lower and undercut monday’s low
Trends (2/4 Up)
Shortest – 10 Day EMA – Down Below declining
Short-term – 21 ema – Down Below declining
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 lower highs since the nov 21 day, however if it can reclaim the 21ema potential higher low
ALAB clean trend but looks to test the 21ema
PLTR pullback to the 21ema
TSLA undercutting the 21ema and ATH , watching for a reclaim
RDDT range at the 21ema
Stocks Setting Up
NAMS 10ema range. Biotech
RDDT range on the 21ema but would prefer a new base
GLBE tight day above the 21ema
SMTC watching for 21ema reclaim
SOFI range at the 21ema, watching for reclaim / pos exp breaker
ROOT swing trade name. range below the mas
KGS energy theme, watching for reconfirmation from range
BROS good look on the weekly, range on the 21ema
AVGO watching for follow through up
TWLO 21ema range
ZIM swing trade name, range potential higher low
CRDO range above the 21
GOOG watching for base pivot reclaim
RUM performance enhancer and not a focus, but seeing it pulling back into the HVC
BE two tight days, watching for wedge pop through the 21ema
GEV tight day watching for pop through the 21
RBLX inside day near 21ema
RKLB starting to form a range above the 21
KVYO pulling back into the pivot
EQT tight day, energy theme
RBRK pulling into the 21ema and HVC
CRNC spec but base after HVE
Themes and Leaders
Key Themes: Software, AI, Semis
Liquid Leaders
These names have the top RS, growth stories
TSLA PLTR RDDT ALAB APP GEV
Performance Enhancers
SOUN QMCO RGTI RUM
Market Thoughts & Focus
Looking through charts encouraged by how charts have held up despite the QQQ action. Still aware that volatility is certainly a possibility to start off the year.
Daily Focus is on RDDT TSLA AVGO RBRK APP
Anything can happen, Day by Day – Managing risk along the way
I hope everyone had a new years!