Good Post-Thanksgiving Action – Leaders Setting Up
Richard Moglen
Stock Trader & Student of the Markets. I help traders improve their systems & performance at TraderLion & Deepvue
December 1, 2024
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Market Action
QQQ – good follow through up after Wednesday’s test of the 21ema
Short Term Expectation based on the close is consolidation or higher
Bulls want to see us continue to push higher
Bears want to see us break lower and undercut the moving average
IWM – tight action, consolidating through time
Bulls would want to us constructively flag out sideways and then reconfirm higher
Bears want to see us break lower from this range
IBIT- tried to follow through higher but fade and poor close, watching for this flag build out more
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Trends (4/4 Up)
Shortest – 10 Day EMA – Up Above Rising
Short-term – 21 ema – Up Above Rising
Intermediate term – 50 sma -Up Above Rising
Longterm – 200 sma – Up – Above Rising
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Groups/Sectors
Crypto remains the leading theme over the past 20 days
Performance Charts from Deepvue
Deepvue Leaders Heatmap
S&P 500
Group Ranks: 1 Day, 1 Week, 1 Month, 3 Month from left to right
Key Stocks and Moves in Deepvue
NVDA slight follow through higher, remains below the 21ema
TSLA good action, back in the range
META chopping around the 21ema, watching for a significant push above
AMZN nice outside day, one of the strongest of the mega caps
MSTR gap up and poor close but tightening here
AAOI another push from a tight range
LEU nice push from tight range
Stocks Setting Up
DDOG forming a tight range after the breakout
DOCS two tight days after the initial move higher
GEO tight range
MGNI fomring a range above the base pivot, good weekly chart
GEV very tight day and range into the 21ema area. may gap monday
SMTC tight range post gap
SQ constructive pullback to the base pivot. Fintech theme has been leading
COIN should be a focus if it can push from this range
SNOW focus into next week, fade friday but still in this tight range
UPST tight range near gap up highs
WGS tight range here
CXW in this consolidation post gap
TEM sstarting to form a higher low spot here
RDDT starting to tighten near this pivot
ALAB tight day above the pivot, 100 level pullback
CORT forming a range near highs
LYFT tight day and no follow through lower
GGAL tightening near the 21ema
DKNG moving up the right side of a big base
AI watching for a tight area, power move higher
VST tight, looks ready. CEG also looks good but lower
VRT 21ema pullback
Themes and Leaders
Key Themes
Crypto, Fintech, Software, AI, Semis, Alt Energy
These names have the top RS, growth stories
TSLA PLTR HOOD MSTR COIN RDDT APP DUOL NVDA AXON FTNT DASH SHOP GEV VST
Recent Earnings gaps and powerful moves
These names are good to watch for pullback spots
AAOI APP AXON BROS COIN GEO IONQ UPST TEM BILL DOCS FRSH LUMN ALAB PLTR SOUN LYFT TSLA HOOD POWL Z AX AMSC LUNR PLNT TOST CRDO COHR RDDT RKLB TRMB VST WVE CEIX LMND MSTR SOFI VRT FTNT MCK DFS MLI CADE HIMS MARA HUT ROOT CRS FHN HQY PODD UPWK GEV OKLO NTNX DOCU FN DUOL GDS FOUR SHOP RKLB SNOW ESTC SMTC
Market Thoughts
Nice batch of setups going into next week. Market holding, things look good.
Anything can happen, Day by Day – Managing risk along the way