Market Sets New Highs – Crypto Set Up for Higher?
Richard Moglen
Stock Trader & Student of the Markets. I help traders improve their systems & performance at TraderLion & Deepvue
December 14, 2024
Market Action
QQQ – good close to the week as we make new highs. Trending above all the moving averages
Short Term Expectation based on the close is consolidation or higher
Bulls want to see us continue to trend higher or flag sideways
Bears want to see us reverse down sharply and break below the 10ema
IWM – still below the 21ema. Coming towards the 50
Bulls would want to see us build a range here and rebound higher
Bears want to see us follow through lower on increasing volume
IBIT- building a range here sideways above the 10ema
Bulls want to see us reconfirm higher
Bears want to see us break lower below the range and 10ema
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
Performance Today on the Left, Performance over the past 20 days on the right.
Performance Charts from Deepvue
Deepvue Leaders Heatmap
S&P 500
Group Ranks: 1 Day, 1 Week, 1 Month, 3 Month from left to right. This is now a preset for Deepvue Members
Post Market Movers.
Key Stocks and Moves in Deepvue
NVDA still acting weak, lower high in place and below the MAs
TSLA trending strongly, above all the MAs
META solving down from the inside day and testing the 10ema
AMZN flagging sideways, would love a 10ema pullback
MSTR setting up a spot here from this range
COIN also has a clear pivot
ALAB strongest leader in the market
RDDT holding up well
AVGO earnings gap and one to watch. News on new chip tech
SOUN rmv tight signal yesterday, from contraction comes expansion
Stocks Setting Up
APP forming a tight range at the 21ema. A swing trade name at this point, later in the overall move. May need a much bigger base if it breaks lower form here
BNTX setting up the right side, swing trade type name and biotech
CVNA upside reversal at the 21ema, watching for follow through up
EQT watching for reconfirmation up, would prefer a few more days sideways or an upside reversal to prime this
ML tight but microcap
MSTR watching for a push on this range
VST range on top of the base pivot
AFRM still in this range, would prefer an inside or upside reversal to prime the setup
QMCO tightest day in a while, current theme/story
SOFI watching for breakout higher
ASAN watching for a push higher
COIN watching for a break above the range
HIMS volatile but 21ema pullback, watching for follow through up from the upside reversal
RIVN forming another range off the bottom, would like an inside day or upside reversal
AI watching for a push from this range
AVPT watching for the breakout
DOCS watching for follow through up
GEO pulling into the 21ema area, watching for a push from the range
BE watching for a push from this inside day
NNE spec, watching for a push through the DTL
SHOP watching for a breakout and reclaim of the pivot off the 10ema
BILL looking for respect and bounce form the 21ema
GEV has been choppy, watching for a push from the inside day
WGS watching for follow through up
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 ALAB DUOL NVDA AXON FTNT DASH SHOP GEV VST VRT
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 PSTG OKTA MRVL GAP NVCR RBRK ASAN DOCU AVGO
Market Thoughts & Focus
Market still trending.
Of the names set up, I’m focused most on AVGO, IBIT/MSTR, AFRM, ASAN, BE
Anything can happen, Day by Day – Managing risk along the way
Recent Trade Lab Reports
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