MSTR Pushes Higher as Market Holds On

Market Action

QQQ – good action, gap up and decent closing range. Positive reaction after friday’s close. The action of the leaders friday was a bit of a tell.

What’s important now is how this inside day resolves over the course of the week with the gap looming above. NVDA earnings a key event for tech this week

Short Term Expectation based on the close is consolidation or higher

Bulls want to see us continue to build here and ideally push up and fill the gap
Bears want to see us follow through down and test the 50 day moving average

IWM – also inside day at the 21ema but a weaker closing range.

Bulls would want to see a rally up from the inside day, or an undercut and rally of the 21ema and then rally higher
Bears want to see the inside day resolve down and close below the 21

IBIT- still forming a falg above the rising moving averages, woudl like to see this work off the extension and build sideways more

This remains one of the key themes I’m focused on

Trends (2/4 Up)

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

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