Markets Hold For Now. NVDA PLTR Coiled
Richard Moglen
Stock Trader & Student of the Markets. I help traders improve their systems & performance at TraderLion & Deepvue
May 23, 2025
Market Action
QQQ – Gap down but a good rally off the open. Close below the 10 ema which is a flaw. Today’s low needs to be defended. TSLA and NVDA primed in a range. We will see which way they exapnd.
Bulls want to see us follow through higher
Bears want us to break today’s low
Daily Chart of the QQQ.
IWM – Upside reversal at the 21ema. In a pullback
IBIT – Gap down and fade off highs. Hanging onto the breakout for now
Trends (3/4 Up) – Based on the QQQ
Shortest – 10 Day EMA – Below Declining
Short-term – 21 ema – Above Rising
Intermediate term – 50 sma – Above Rising
Longterm – 200 sma – Up – Above Rising
Groups/Sectors
Deepvue Theme Tracker
Deepvue Leaders Heatmap
S&P 500.
Leadership
TSLA Closes the week inside the range with an inside day. Expecting expansion next week
PLTR forming a range just below the base pivot and above the 21ema
NVDA Pullback into the 10ema. Watching for respect here
META Leak lower below the recent range
HOOD Pulling into the 10ema area
MSTR breaks below the 21ema. Not a good look and the intermediate term trend is over.
CRWD Follow through up and closing right at the base pivot
UBER pulling into the 21ema area
HIMS Holding above the 21ema
Key Moves
CRWV slight reversal up. If it breaks down this IPO boom move may be over. Currently trending above the 10ema
LEU strong close after the gap up
CCJ gap and go
Setups and Watchlist
CRDO watching for a range breakout
DUOL watching for a range breakout
FUTU watching for a range breakout
IBKR watching for a range breakout. Long term leader
TOST watching for a push off the base pivot
VRT watching for a range breakout
OS watching for a range breakout.
ONON watching for follow through up
AVGO watching for a range breakout
GRAL watching for a range breakout
SNOW watching for post gap range breakout
Today’s Watchlist in List form
Key Names
NVDA, TSLA, META, PLTR, MSTR, CRWD UBER HOOD
CRDO, DUOL, FUTU, IBKR, TOST, VRT, OS, ONON, AVGO, GRAL SNOW
Focus:
TSLA SNOW PLTR VRT
Themes and Leaders
Strongest Themes: BTC, Miners, Software, Cyber, Solar
Market Thoughts & Focus
Good action off the gap down but needs to hold here. TSLA and PLTR key focus for next week for adds.
Anything can happen, Day by Day – Managing risk along the way
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