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Small Caps Lead Again. Push Higher

Richard Moglen
Richard Moglen

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

January 6, 2026
13 min read
Market Trend Status
Trend: 4 of 4 UP
✓ 10 EMA ✓ 21 EMA ✓ 50 SMA ✓ 200 SMA

Market Action

This is a very interesting market. I believe we are in a developing uptrend despite some weak action by some of the mega-caps. It’s very theme driven right now and smaller cap lead.

Strong showing again from the space theme, technology hardware, and select semis.

QQQ
Nice gap and go action heading towards potential resistance areas. Constructive if it can work it's way through.
QQQ chart
IWM
More strong follow through as IWM leads. Making it's way towards highs
IWM chart
IBIT
Some downside action at the key level. What would be constructive would for this to build out a range and hold the gap and rising MAs.
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
Deepvue Theme Tracker
Deepvue Heatmap
Strong action across the board
Deepvue Heatmap
S&P Heatmap
S&P Heatmap

Leadership Stocks & Analysis

TSLA
Some reconfirmation down but not too far below the prior selloff bar. This is below the MAs
TSLA chart
GOOG
Downside reversal. Choppy at this range pivot
GOOG chart
AAPL
Sharp follow through lower
AAPL chart
META
In spirit another inside day as the moving averages coil
META chart
AMZN
Strong breakout from the inside day
AMZN chart
INTC
Upside reversal. Constructive after the sharp downside reversal yesterday
INTC chart
PLTR
Push higher form the inside day. Towards the MAs.
PLTR chart
NVDA
Still in this range but not the strongest action with the close. Right on top of the MAs. Key point here
NVDA chart
MU
MU chart
BE
Constructive start to a range here
BE chart
LLY
Nice reclaim fo the 21ema and not follow through lower
LLY chart
FSLR
Choppy mess. But this feels like one of those bases that a stock explodes out of catching everyone off guard. Not the strongest group currently however.
FSLR chart
MSFT
Great to see this action. Looking for this to form a right side and keep pushing
MSFT chart
RKLB
Leader in the space theme. Range breakout today
RKLB chart
SNDK
Strong expansion.
SNDK chart

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Key Moves

WDC
Strong with the rest of the group
WDC chart
VSAT
Strong base breakout
VSAT chart
DOCN
Nice follow through
DOCN chart

Setups and Watchlist

FLNC
Watching for a base re-breakout
FLNC chart
NAVN
Watching for a range breakout
NAVN chart
CIFR
Ideally tightens more first but watching for a range breakout
CIFR chart
PGNY
Watching for a range breakout
PGNY chart
CLS
Watching for follow through higher
CLS chart
BBNX
More monitoring this. Watching for a base breakout
BBNX chart
RIVN
Watching for a range breakout
RIVN chart
AXSM
Watching for a post gap u turn up.
AXSM chart

Watchlist & Themes

Larger Watchlist

FLNC NAVN CIFR PGNY CLS BBNX RIVN AXSM BE TSLA GOOG META NVDA

RIVN GOOG BE

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