Follow Through Higher. Crypto Set Up?
Richard Moglen
Stock Trader & Student of the Markets. I help traders improve their systems & performance at TraderLion & Deepvue
January 22, 2025
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Market Action
QQQ – Follow through up with a gap, close off highs. Definitely feeling a bit short term stretched here
Short Term Expectation based on the close is consolidation or higher – some sideways would be prefered. If we build a tight range here A+
Bulls want to see build sideways or follow through up
Bears want to see us reverse lower sharply
IWM – inside day just below the 50 day
Bulls want to see us continue higher through the 50 or flag out constructively
Bears want to see us reverse lower and test the 21ema
IBIT- Good action although in the bottom aprt of yesterday’s bar. Coiling for a move either way
Bulls want to see us build out sideways here for a few days or follow through up
Bears want to see us reverse lower back to the 21ema filling the gap
Trends (4/4 Up) – Based on the QQQ
Shortest – 10 Day EMA – Above Rising
Short-term – 21 ema – Above Rising
Intermediate term – 50 sma – Above Rising
Longterm – 200 sma – Up – Above Rising
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Groups/Sectors
Performance Today from open 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 Action – Not much of note
Leaders and Key Moves
NVDA strong follow through, woudl love a higher low to form up here
TSLA inside day on lighter volume and forming a range above the 21, low closing range, watching for follow through up. Earnings upcoming
RDDT tight inside day post breakout, constructive, watching for reconfirmation. A sharp move lower woudl indicate a base failure. In that case would be watching the 21ema area.
GEV strong action post earnings, getting stretched here form the MAs, watching for constructive pullback
PLTR strong action today, popping up
ALAB could not push the 21ema, watching this downward trendline
MSTR a bit weak but still has an explosive look to it with IBIT
ARM explosive move higher on stargate catalyst
NFLX gap up but poor close, watching for a range/u turn
TEM strong day 2 action, can watch for range to form now
Stocks Setting Up / Holding Up
RUM swing trade idea, watching for push through the pivot
COIN tight inside day at the pivot, watching for push higher
BTDR swing trade idea, very volatile name
HUT watching for push off the 21ema
MSTR watching for reconfirmation up
BROS watching for follow through up from the reversal, swing trade type entry
ALAB watching for push through the DTL or positive expectation breaker
UPST noticing this perk up, swing trade type name
HSAI high tight flag, watching for breakout higher
QMCO gap and fade today back in the range, watching for push higher, swing trade/volatile name
SYM tight inside day watching for push higher, swing trade idea
TSLA watching for push higher
TEAM tight day, watching for push higher
RDDT watching for reconfirmation
Themes and Leaders
Key Themes: Software, AI, Semis. Crypto, Energy. Space
These names have the top RS, growth stories
TSLA GEV RDDT ALAB VST MSTR COIN NVDA HOOD VRT
Market Thoughts & Focus
Continued expansion up. Nice action with NVDA. What will provide the most information is how we work off this extension. Do we tread water sideways or sharply reverse. Mentally aware and prepared for a sharp down day sometime in the next couple sessions. Know your plan for each of your positions if we do get a stress test.
Daily Focus will be on COIN MSTR ALAB
Anything can happen, Day by Day – Managing risk along the way