Squats and Reversals

Market Action

QQQ – Up slightly Again. 6 days up in a row.

QQQE – pulling back slightly. CPI thursday could be a catalyst for a breakout

Trends

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

Groups/Sectors % Change from Open

Biotech and EV among the strongest.

Key Stocks in Deepvue

NVDA grinding higher

HIMS tight on low volume

PLTR would like to see a high handle

TSLA powering higher. Expect a pullback to the 10 ema

CRWD downside reversal. CYBR big shakeout type bar

LABU a way to play continued rotation into biotech

AMGN biotech big cap outside day

TTD I like the weekly as well

RDDT downside reversal, fair number of these today

HOOD a bit of a squat but one to watch

CAVA follow through down

CHWY tight, likely breaks one way or another soon. GME also same theme and tight

META tight, AMZN as well

Market Thoughts

Many downside reversals and squats today above moving averages. A few days rest/pullback would sweeten a lot of already promising looking charts. Catalyst for the market thursday