PLTR Sharp Drop. QQQ Near Highs
Richard Moglen
Stock Trader & Student of the Markets. I help traders improve their systems & performance at TraderLion & Deepvue
February 19, 2025
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Market Action
QQQ – Close right near highs
Short Term Expectation based on the close is consolidation or higher.
Bulls want to see us build sideways or follow through up
Bears want to see a reversal back lower with a strong bar taking out the recent lows
IWM – Upside reversal and in a short flag
Bulls want to see us follow through up and pop above the MAs
Bears want to see us reverse lower and undercut today’s low
IBIT- Gap up and hold, expectation breaker but remains below the MAs
Bulls want to see us follow through up
Bears want to see us reverse back down
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
S&P 500
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. GRAB gap down
Leaders and Key Moves
NVDA very slight follow through lower. Ideally flags back into the MAs and reconfirms higher
TSLA slight move higher, the declining 21ema will be a key test
META gap lower but decent action off the 21ema area
RDDT holding the base pivot, ideally we get an undercut and rally of this level and 50sma
PLTR very negative bar on news catalyst. Watching for a sharp test of the 21ema. Positive if we can hold here
CRWD trending, forming a short range
BROS very tight day, watching for a break from this range tomorrow
TEM acting well, ideally tightens against the base pivot
DKNG upside reversal off of the base pivot, watching for post gap u turn
HIMS definitely getting extended now. Swing traders would be selling some into strength
Stocks Setting Up / Holding Up
APP watching for follow through up and post gap range breakout
DOCS tightening, watching for a break from this range
BROS watching for a push up from this post gap range and inside day
PINS watching for a push off the range lows or undercut and rally
AVGO watching for follow through up off the 50sma HVC confluence
DKNG watching for follow through up
TEM ideally builds more here, watching for an undercut and rally of the base pivot
RDDT watching for undercut and rally of the base pivot
AIOT swing trade ideal, watching for break above the range
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 3 and Later: APP BROS HOOD MNDY PINS DOCS AFRM NET TWLO UPST CFLT ABNB ROKU PCOR DKNG
Market Thoughts & Focus
Not seeing many primed setups. More cautious than aggressive
Focus on BROS RDDT
Anything can happen, Day by Day – Managing risk along the way