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Recovery after the Gap Down

Richard Moglen
Richard Moglen

Stock Trader & Student of the Markets. I help traders improve their systems & performance at TraderLion & Deepvue

January 12, 2026
13 min read
Market Trend Status
Trend: 4 of 4 UP
✓ 10 EMA ✓ 21 EMA ✓ 50 SMA ✓ 200 SMA

Market Action

Strong action today off the open. Space theme still acting great. Smaller caps leading as the mega’s mostly lag outside of GOOG & AMZN. The QQQ could really get going if TSLA and NVDA can strengthen.

QQQ
Strong close after the gap down. Testing the unfilled gap area.
QQQ chart
IWM
Similar action. Trending at highs
IWM chart
IBIT
Still in this bottoming base. Just below the declining 50sma
IBIT chart

Trends 4/4 Up – based on the QQQ

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

Current View: Developing Uptrend

Groups/Sectors

Deepvue Theme Tracker
Strong action across the board.
Deepvue Theme Tracker
Deepvue Leaders Heatmap
Deepvue Leaders Heatmap
S&P Heatmap
S&P Heatmap

Leadership Stocks & Analysis

TSLA
Some more follow through. Up against the 21ema now
TSLA chart
GOOG
New highs after strong action off the open. Positive news with AAPL partnership
GOOG chart
AAPL
Still stretched to the downside. Lagging the market. Looks to test the declining MAs
AAPL chart
META
Weaker action. Could not reclaim the 21ema
META chart
AMZN
Slight downside reversal after the move up. Trending
AMZN chart
INTC
Inside day. Room to pull in further
INTC chart
PLTR
Could not reclaim the 21ema. Back in the range
PLTR chart
NVDA
Oops reversal but could not reclaim the level and MAs for now
NVDA chart
MU
Trending.
MU chart
BE
Very strong action. ideally forms a handle before the new high attempt
BE chart
LLY
Oops reversal
LLY chart
MSFT
Still stuck below the MAs. Needs to pop through and stick with higher lows
MSFT chart
RKLB
Trending
RKLB chart

Key Moves

MTSI
Strong breakout on catalysts.
MTSI chart
CRWV
Strong push from the bottoming base and tight area
CRWV chart
NXT
Strong push from the solar names
NXT chart

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Setups and Watchlist

LEU
Watching for a range breakout
LEU chart
FLY
Watching for a bottoming base breakout
FLY chart
PONY
Watching for a range breakout
PONY chart
TNK
Watching for a range breakout
TNK chart
CCL
Watching for a flag breakout. CUK same setup
CCL chart
NAVN
Watching for a range breakout
NAVN chart
CHYM
Watching for a consolidation breakout and follow through
CHYM chart
RIVN
Watching for a 21ema reclaim
RIVN chart
RHLD
Watching for a base breakout.
RHLD chart
SPHR
Watching for a range breakout
SPHR chart
CUK
Watching for a flag breakout
CUK chart

Watchlist & Themes

Larger Watchlist

LEU FLY PONY TNK CUK CCL NAVN CHYM RIVN RHLD SPHR

Daily Focus List

LEU CUK NAVN CHYM RIVN

Additional Thoughts

Continue to like the action.

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