Software Stocks Setting Up? Choppy Thursday

Market Action

QQQ – fade off highs as it forms a range at the AVWAP from lows. Expectation based on the recent price action is lower. We’ll see how we fair on friday. Choppy.

An expectation breaker would be a strong close above this recent range or even the 21ema.

IWM – losing the 50 day

Trends (1/4 Up)

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

Groups/Sectors – % Change from Open

Performance Charts from Deepvue

Heatmap from Deepvue

Key Stocks in Deepvue

NVDA inside day as it forms a short range. Below MAs

CAVA start of a u turn?

PLTR tight inside day after the upside reversal

DUOL forming this handle

ZETA continues to trend strongly

RDDT should be watched closely

TTD strong liquid name. back approaching all time highs

KYVO pull back to the 21ema

AFRM pulling back to this key level, watch for respect/upside reversal

ADMA inside day at the 21, swing trade idea

DOCS still holding that AVWAP

NTNX tight day post gap

Market Thoughts

Noticing more software names pop up. Semis still look weak, AVGO gap down after hours. We’ll see how we close the week

Day by Day – Managing risk along the way