Gap Down Below the 21ema
Richard Moglen
Stock Trader & Student of the Markets. I help traders improve their systems & performance at TraderLion & Deepvue
August 2, 2025
Market Action
QQQ – Follow through down as we gapped lower and closed below the 21ema. Bears in control in the short term.
Bulls want to see us snapback above the 21ema
Bears want to see follow through down towards the 50sma or a failed recovery of the 21ema
Daily Chart of the QQQ.
IWM – Gap down tot he 50sma and upside reversal
IBIT – Follow through down breaking the 21ema
Trends (4/4 Up) – Based on the QQQ
Shortest – 10 Day EMA – Above
Short-term – 21 ema – Above
Intermediate term – 50 sma – Above Rising
Longterm – 200 sma – Up – Above Rising
Groups/Sectors
Deepvue Theme Tracker
Deepvue Leaders Heatmap
S&P 500.
Leadership
TSLA some follow through lower but upsie reversal of the latest swing low
PLTR pulling into the 21ema
NVDA some follow through down
META pullback into the pivot
HOOD volatile day. decent close off lows
MSFT follow through down, not quite closing the gap yet
MSTR break lower after failure at the 21ema
CRWD trending below the 21ema
Key Moves
RDDT impressive action in this tape. One to stalk
APPF strong breakout from a large base
Post Market Movers
Setups and Watchlist
SEDG watching for a 21ema range breakout
MP watching for follow through up
AGYS watching for a range breakout
WING watching for an HVC reclaim or u turn
LC watching for follow through up. Recent gapper
RKLB watching for a flag breakout. ideally puts in an inside day
URBN watching for follow through up and base breakout
APLD watching for a HVC reclaim
JOBY watching for the HTF breakout. ideally tightens here below the pivot
Today’s Watchlist in List form
Focus List Names
SEDG MP AGYS WING LC RKLB URBN APLD JOBY APPF
Focus:
Not really looking to buy anything. APPF RDDT ALAB most interesting.
Themes
Strongest Themes: BTC, Miners, Software, Cyber, Nuclear Power
Market Thoughts & Focus
Reason for more caution. Choppier summer trading and late cycle. Goal is to protect gains made in the first half of the year and be ready for the next sweet spot. Energy names showed RS friday
Anything can happen, Day by Day – Managing risk along the way
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