Reversals Amidst the Chop
Richard Moglen
Stock Trader & Student of the Markets. I help traders improve their systems & performance at TraderLion & Deepvue
January 8, 2025
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Market Action
QQQ – upside reversal at the 50 day, consolidation day. That low is key.
Short Term Expectation based on the close is consolidation or lower
Bulls want to see us reclaim the 21ema powerfully or base out sideways
Bears want to see us undercut today’s low and follow through lower
IWM – Upside reversal near the bottom of this range
Bulls want to see us continue to build the range here and eventually pop through the 21
Bears want to see us follow through lower
IBIT- down to the 50 day area
Bulls want to see us respect that level which is also the base lows and build out
Bears want to see us follow through lower breaking the 50
Trends (2/4 Up) – Based on the QQQ
Shortest – 10 Day EMA – Down Below Declining
Short-term – 21 ema – Down Below Declining
Intermediate term – 50 sma -Up 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
Group Ranks: 1 Day, 1 Week, 1 Month, 3 Month from left to right. This is now a preset for Deepvue Members
Leaders and Key Moves
NVDA gap up but then some more pullback, overall consolidation day at the MAs. Needs to hold and build here or one big gap lower and then upside reversal
ALAB At the 21ema
RDDT oops reversal off the 21. watching for follow through up
PLTR short term stretched to the downside and tapping the 50 day
TSLA not much follow through lower, tightening a bit
GEV standing out a bit, fade to the base pivot then strong action
GEO finally got moving today, watching for follow through
Stocks Setting Up / Holding Up
ARM interesting tight range here, bigger base
GME inside day here above the base pivot
INTA good action off the 50, watching for follow through up
GEV watching for follow through up
VST watching for follow through up
TWLO watching for a push higher
NVMI semi name moving up the right side of a larger base. range here but ideally builds out more
RKLB like the look of this, upside reversal off the 21ema in this base above all prior all time highs. Watching for follow through higher
AVGO no follow through lower so far, watching for push through today’s high
HUBS watching for a pop above the 21ema
DECK forming a tight flat base up here. watching for push off 21ema
BROS watching for a push off the pivot
CRDO watching for a push out of this flag
SMTC strong day off the 21ema, watching for follow through up but ideally we get an inside bar
BE watching for a push off the 21ema
RBRK watching for a range reclaim.
Themes and Leaders
Key Themes: Software, AI, Semis. Crypto
These names have the top RS, growth stories
TSLA PLTR RDDT ALAB APP GEV
Performance Enhancers
SOUN QMCO RGTI RUM
Market Thoughts & Focus
Looking through charts still choppy. We’ve had a few days of pullback now and I see a decent amount of names holding the 21ema, key pivots. Open minded about where we go from here.
Daily Focus is will be GEV VST ARM AVGO
Anything can happen, Day by Day – Managing risk along the way