Gap Down, Close at Highs. Short Term Low?
Richard Moglen
Stock Trader & Student of the Markets. I help traders improve their systems & performance at TraderLion & Deepvue
September 2, 2025
Market Action
QQQ – Today we followed through down after friday’s negative expectation breaker with a gap down to the 50sma. However we rallied off the open and closed strongly near highs through still below the 21ema.
Bulls want to see follow through higher or a tight sideways range
Bears want to see more follow through lower testing the 50 sma
Daily Chart of the QQQ.
IWM – gap down with strong close
IBIT – Positive expectation breaker but still below the MAs and key level
Trends (2/4 Up) – Based on the QQQ
Shortest – 10 Day EMA – Below
Short-term – 21 ema – Below
Intermediate term – 50 sma – Above Rising
Longterm – 200 sma – Up – Above Rising
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