Reversal Down! Semiconductor Stress Test

Market Action

QQQ – significant move lower to the 10ema, undercutting yesterday’s bar

Short Term Expectation based on the close is consolidation or lower

Bulls want to see us build out here, or reverse back up sharply potentially with an expectation breaker
Bears want to see us follow through down undercutting the 21ema

IWM – Fade off highs, expectation sideways or lower

Trends (4/4 Up)

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

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Groups/Sectors – % Change

From yesterday’s close on the left, from today’s open on the right

Performance Charts from Deepvue

Deepvue Leaders Heatmap

Heatmap from Deepvue

Group Ranks: 1 Day, 1 Week, 1 Month, 3 Month

Key Stocks in Deepvue

NVDA strong reversal down but closed above the key level for now

ASML earnings leak led to the semi selloff

IBIT at a key level, some follow through up

HIMS continuation up

EXEL breakout from RMV5 tight area

CCL gap up

SPHR seeing volume come in

CORT strong move

RBRK forming a range just below highs. stretched still

IOT tightening post reconfirmation bar

CART upside reversal off 10ema

VITL forming another spot

NET holding tight post breakout

HCC this name can make nice runs

ONON can watch for pop up through 21ema. If it breaks lower it needs more time

CEG like how this is acting, holding AVWAP from gap

SATS swig trade type name

AVAV defense name. KTOS as well

CCJ upside reversal watching for follow through

DUOL good action today

CAVA upside reversal

TEM can watch for positive expectation breaker if gaps up. Last weeks low and the IPO high are key levels

ASTS tight day, watching for expansion up through MAs

RKLB tight

CLOV tight action, likely moves tomorrow up or down

AAPL fade but breakout

TSLA tight action, sentiment is poor right now on this name. See if it can push high or reconfirms down

Market Thoughts

Semis are a leading group and took hits today, not to be ignored. See how they close the week. Overall things held up pretty well. Would not mind a bit of pullback to setup charts again

Day by Day – Managing risk along the way