Reversal Off Highs – More Pullback To Come?
Richard Moglen
Stock Trader & Student of the Markets. I help traders improve their systems & performance at TraderLion & Deepvue
May 21, 2025
Market Action
QQQ – Reversal off highs after the rate auction – could be a new fundamental catalyst. Testing the 10ema area and the range lows. Leaders with downside reversals. The expectation was a strong day. Instead we sold off. Sign to pump the brakes
Bulls want to see us hold the 10ema area on a pullback.
Bears want us follow through lower and close below the 10ema for the week
Daily Chart of the QQQ.
IWM – Gap down and close below the 10ema and into the 21ema area. Negative bar. Bulls watch to see this rally into the end of the week
IBIT – ATH test but now up 3 days in a row.
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
Groups/Sectors
Deepvue Theme Tracker
Deepvue Leaders Heatmap
S&P 500.
Leadership
TSLA follow through down and testing the low of the range and 10ema area. Watching for an upside reversal, respect of this area into the end of the week.
PLTR Watching for respect of the 21ema
NVDA Watching the 10ema pullback
META Fade after trying to push the pivot
HOOD Fade after the breakout attempt
MSTR Reversal down, weaker than IBIT
CRWD Downside reversal
UBER Close below the 10ema
HIMS Needs to build here
Key Moves
CRWV expansion higher from the right day. Swing traders likely should have sold some into strength. Powerful trend
DY breakout to new highs
XPEV breakout on earnings
More speculative stuff TEM AAOI HIMS hit hard.
Setups and Watchlist
GRPN watching for range breakout or 10ema test
ONON watching as we build out this range
LEU watching for it to hold the range low area
OS watching for a range breakout
GRAL watching for a range breakout but needs to hold the 21ema
TOST watching for a base pivot pullback
Today’s Watchlist in List form
Key Names
NVDA, TSLA, META, PLTR, MSTR, CRWD UBER HOOD
GRPN, ONON, LEU, OS, GRAL, TOST
Focus:
PLTR CRWD TSLA SNOW (Earnings) MSTR
Themes and Leaders
Strongest Themes: BTC, Miners, Software, Cyber, Solar
Market Thoughts & Focus
Most names that looked strong and setup set up downside reversals or broke lower from their ranges today. Unless we have a strong recovery tomorrow looks like we need some time to consolidate and reset. SNOW earnings reaction will be a nice tell
My focus is on the leaders and how they act to end the week.
Anything can happen, Day by Day – Managing risk along the way
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