Market Shakeout
Richard Moglen
Stock Trader & Student of the Markets. I help traders improve their systems & performance at TraderLion & Deepvue
February 20, 2025
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Market Action
QQQ – Wide range candle but a decent close. Good action off the 10ema area. If we get follow through that will be a key tell. If we start leaking lower that would be a negative/
Short Term Expectation based on the close is consolidation or higher.
Bulls want to see us follow through up
Bears want to see leak lower or undercut of today’s bar
IWM – break lower from the short range near the 21ema.
Bulls want to see pop immediately higher with a positive expectation breaker
Bears want to see us follow through lower
IBIT- Strong action following through from the positive expectation breaker. Up against the declining MAs
Bulls want to see us follow through up
Bears want to see us reverse back lower with the MAs acting as resistance
Trends (4/4 Up) – Based on the QQQ
Shortest – 10 Day EMA – Above Rising
Short-term – 21 ema – Above Rising
Intermediate term – 50 sma – Above Rising
Longterm – 200 sma – Up – Above Rising
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Groups/Sectors
Performance Today from open on the Left, Performance over the past 20 days on the right.
Performance Charts from Deepvue
Deepvue Leaders Heatmap – Most down from the open
S&P 500. Rotation into consumer staples, reits, energy
Heatmap from Deepvue
Group Ranks: 1 Day, 1 Week, 1 Month, 3 Month from left to right. This is now a preset for Deepvue Members
Post Market Action. CELH gap up
Leaders and Key Moves
NVDA Still flagging our here above the MAs, I like the close.
TSLA back in the short range below the declining 21ema.
META testing the 21ema
RDDT breaking below the pivot and 50sma
PLTR strong close but sharp drop to the 21ema
CRWD sharp break but strong close right at the 21ema
BROS break lower from the right day, still in this post gap range
TEM Gap down and slight undercut of the base pivot, watching for a range to form against the 21ema now, or quick reclaim
DKNG upside reversal off of the 10ema, watching for follow through up and u turn
HIMS gap lower but decent close
U gap up on earnings, highest volume ever, lots of overhead supply
BABA potential key reversal day
Stocks Setting Up / Holding Up
AVGO tight on the HVC and 50sma
BROS watching for a push off the range lows, this range is right near ATHs
SPOT this has been a long term leader, watching for swing trade up from this 10ema pullback
MNDY watching for follow through up from this upside reversal
PINS watching for follow through up from this outside day
AFRM watching for upside reversal off the base pivot
DKNG watching for follow through up
GRAL watching for earnings gap and go, spec name
LUNR spec name, watching for follow through up
RIVN watching for post earnings move
Themes and Leaders
Key Themes: Software, Cyber, AI, Semis, Biotech
Strongest names in software – PLTR SNOW SHOP GTLB ESTC NET CRWD ASAN PLTR TWLO APP
These names have the top RS, growth stories
RDDT CRWD HOOD DKNG
Recent Gaps and Earnings Moves
Day 1: RIVN GRAL INOD CELH MELI
Day 2: U
Day 3 and Later: APP BROS HOOD MNDY PINS DOCS AFRM NET TWLO UPST CFLT ABNB ROKU PCOR DKNG
Market Thoughts & Focus
Glad to see how we closed. Still a bit cautious given the drops in names like RDDT PLTR which had been leading. See if there are new names that really take hold.
Likely Daily Focus on DKNG BROS RIVN
Anything can happen, Day by Day – Managing risk along the way