
Gap up. QQQ Downside Reversal. AI Theme Expands
Richard Moglen
Stock Trader & Student of the Markets. I help traders improve their systems & performance at TraderLion & Deepvue
September 10, 2025
Market Action
QQQ – We gapped up to highs before reversing and ultimate closing back near the top of the recent range
Bulls want to see a re-breakout or continue formation of the range
Bears want to see a sharp break lower below this range testing the 10ema with a negative close.
Daily Chart of the QQQ.

IWM – Slight downside reversal but overall more range building riding the 10ema

IBIT – Positive expectation breaker but a fade off highs

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
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