NVDA Gaps Up – Crypto Theme in Force
Richard Moglen
Stock Trader & Student of the Markets. I help traders improve their systems & performance at TraderLion & Deepvue
January 6, 2025
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Market Action
QQQ – Gap up but a close off highs, back above the 21ema. Hesitation close
Short Term Expectation based on the close is consolidation or higher
Bulls want to see us build above the 21ema
Bears want to see us reverse down and undercut the 21ema
IWM – Gap up but fade, rejected at the declining 21ema so far
Bulls want to see us hold here and push through the 21
Bears want to see us follow through lower
IBIT- Re-breakout – good close
Bulls want to see us follow through up or build sideways above the pivot
Bears want to see us reverse lower
Trends (4/4 Up) – Based on the QQQ
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 from open 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
Leaders and Key Moves
NVDA follow through up but could not close above the pivot, short term a bit stretched. Watching for a flag out sideways
ALAB gap but fade
PLTR reversal of friday’s strong bar
TSLA some follow through up but could not hold above the key prior high
RDDT Wide range bar at highs
GEV gap up and decent strength. watching for a higher low to form
WGS strong breakout I had taken this one off my radar
MSTR follow through up above the MAs
VST strong recent action, ideally sets up a higher low up here with a new pivot
OKLO some follow through on the breakout. Also see SMR, CEG
NNE strong follow through
Stocks Setting Up
LMND forming a low range at the 50day
QMCO could not push today, still in this range. Fast mover
AVGO still in this range, watching for a push higher
NAMS still below this pivot
GEO watching for a breakout
RBRK watching for follow through up
RDDT see if it can form a tight day near highs
BE would like another tight area to form first but watching for a breakout
Themes and Leaders
Key Themes: Software, AI, Semis. Crypto
Liquid Leaders
These names have the top RS, growth stories
TSLA PLTR RDDT ALAB APP GEV
Performance Enhancers
SOUN QMCO RGTI RUM
Market Thoughts & Focus
We had a strong 1-2 days and then mostly a gap and fade today. Not many stocks are what I consider “primed” right now. We’ll see how we handle today’s fade, if we follow through lower or reconfirm higher. Ideally we get a few days of tight sideways action to set new pivots.
Semis, Crypto and SMR are leading themes recently
Daily Focus is on RBRK AVGO
Anything can happen, Day by Day – Managing risk along the way