Mega Caps Show Mixed Action
Richard Moglen
Stock Trader & Student of the Markets. I help traders improve their systems & performance at TraderLion & Deepvue
February 5, 2025
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Market Action
QQQ – Gap down and test of the 21ema and then a strong close
Short Term Expectation based on the close is consolidation or higher.
Bulls want to see build sideways or a strong rally up
Bears want to see us reverse lower back below the 21ema
IWM – Strong action closing above the 50sma for the first time in weeks
Bulls want to see us follow through higher and break above the range
Bears want to see us reverse lower back below the 50sma
IBIT- Follow through down slightly
Bulls want to see us pop back through the 50sma
Bears want to see us break monday’s low and for the moving averages to roll over
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
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.
Leaders and Key Moves
NVDA Strong close above the 200 day. Below the other declining MAs
TSLA negative expectation breaker. Below downtrending MAs
META Fade off the highs
RDDT Strong action and close
PLTR Pullback, can watch for a. U-Turn
CRWD strong follow through
ALAB Base still needs to build out, watching for a higher low. That gap is a key level
MSTR could not push the pivot, negative close
HOOD Good action after the tight day
TWLO Pivot forming
TEM continued follow through higher. Watching for higher low to form
Stocks Setting Up / Holding Up
BILL tightening below the pivot before earnings AMC tomorrow
GH swing trade idea, through highs. Nice volume decline
QMCO swing trade idea, very tight action. Likely gets directional tomorrow
DOCU nice upside reversal, watching for follow through
RKLB upside reversal, noticing all the wicks above. Woudl need to strongly push through
MSTR not much response to earnings. Needs to strengthen but still in this range
TSLA at key level, watching for positive expectation breaker.
PLTR watching for a push through the high and HVC. Later in move so more swing trade mindset
Themes and Leaders
Key Themes: Software, Cyber, AI, Semis
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
Market Thoughts & Focus
Some more follow through today but not seeing many primed setups. Ideally we flag out and set new pivots.
Anything can happen, Day by Day – Managing risk along the way