Inside Day After the Market Drop

Market Action

QQQ – inside day after yesterday’s drop. Rally to 21ema and then bit of a fade into the close. Think we see more chop weakness until the election. With earnings and the election things can turn on a dime, have a list of stocks you are focused on finding spots in but always manage risk.

Short Term Expectation based on the close is consolidation or lower

Bulls want to see us snap back higher or build near the 50 sma and then rally up.
Bears want to see us follow through down and break the 50 sma

IWM – similar action, coiled overall

Trends (2/4 Up)

Shortest – 10 Day EMA –  Below Declining
Short-term – 21 ema – Below Declining
Intermediate term – 50 sma – Above Rising
Longterm – 200 sma – Up – Above Rising

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Groups/Sectors – % Change

From yesterday’s close on the left, from today’s open on the right

Performance Charts from Deepvue

S&P 500

Deepvue Leaders Heatmap

Heatmap from Deepvue

Group Ranks: 1 Day, 1 Week, 1 Month, 3 Month from left to right

Key Stocks in Deepvue

NVDA positive expectation breaker. Would be nice if it can hold near the 21ema and build

AMZN Gap up after earnings

TSLA near the 10ema, see if we can build and U turn here. If we can this could be the start of a longer term trend

META tight day after yesterday’s negative bar. see if we can hold here or have a shakeout to the 50sma and strong close

RDDT pullback today, see if it can build out a flag. That type of gap should have everyones attention.

RBLX very tight day post gap, could se up a spot here

MBLY this followed through up. 4b- Stan Weinstein Setup

SG one to watch on earnings.

VST undercutting the range before earnings. See how CEG and this act on the news for gap setups

ALAB holding the 10ema. Good RS

SNAP setting up a range on the 200sma. Weaker name

TOST good action ahead of earnings

PRCT see if it flags post gap. strong sales growth

ACLX tight below the 21ema, good swing trading name

Market Thoughts

Not bad action after yesterday’s bar, see how we build out next week and act post election.

Day by Day – Managing risk along the way