QQQ Closes the Week Right Below All Time Highs
Richard Moglen
Stock Trader & Student of the Markets. I help traders improve their systems & performance at TraderLion & Deepvue
February 14, 2025
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Market Action
QQQ – And there is the breakout move, great to see follow through after yesterday. Ideally we begin trending now into new highs
Short Term Expectation based on the close is consolidation or higher.
Bulls want to see us build sideways or continue up
Bears want to see a reversal back lower and a negative close to the week
IWM – Good close but remains weaker just at the 21ema
Bulls want to see us follow through up through the MAs
Bears want to see us reverse lower
IBIT- Still in this range below the MAs. Suspect but no real push either way.
Bulls want to see us pop back through the MAs
Bears want to see us follow through lower and undercut today’s low and the range (basically break out to the downside)
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. Not much of note
Leaders and Key Moves
NVDA Strong end to the week back above the moving averages. Approaching the meat of this base where it may run into some resistance.
TSLA Pausing at the declining 10ema, watching for higher low at the MAs
META Trending higher, robotics news
RDDT closing below the 21ema. Watching for further weakness
PLTR slight push up on lower volume
CRWD tight inside day
BROS right at prior ATHs. Watching for a post gap range breakout
HIMS strong week, some pullback, pause here would be warranted
APP good close to the week.
TEM follow through up, mentally expecting a pause/pullback
DKNG very strong action, a company that likely benefits from less regulation
ABNB earnings gap and surprise.
ROKU earnings gap, can it restart a stage 2 uptrend
Stocks Setting Up / Holding Up
AXSM watching for a flag breakout. Biotech. Big Monthly Base
LUNR watching for a pop above this range and 21ema. Swing trade type name
PINS watching for a push up from this post gap range
MNDY watching for push from this post gap flag after HVE. Upside reversal today so can follow through
TTWO watching for re-breakout from this range
CEG watching for a breakout from the range. VST set up similar
AVGO still set up in this range. lagging NVDA recently but overall chart is a bit neater
RKLB needs to really reconfirm and get through this supply, lots of wicks recently
CRDO more of a swing trade idea if it can follow through up after the upside reversal
RBRK hanging around the pivot, watching for a retest
TEAM watching for a break of this trendline.
LEU watching for a break from this handle as the setup and as the entry tactic an expectation breaker
CFLT watching for a range to build here, potential for positive expectation breaker early next week
CRNC watching for a break out from this lower pivot, potential for pos ex breaker early next week. This is a secondary name, not a focus
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
Recent Gaps and Earnings Moves
Day 1 Tomorrow: Not much
Day 2: ABNB ROKU PCOR DKNG
Day 3 and Later: APP BROS HOOD MNDY PINS DOCS AFRM NET TWLO UPST CFLT
Market Thoughts & Focus
Overall a solid week. Got some catalysts out of the way. The recent earnings gaps are a good gauge of risk appetite.
Focus on TWLO MNDY RBOS
Anything can happen, Day by Day – Managing risk along the way