Stress Test Survived – Oops Reversals
Richard Moglen
Stock Trader & Student of the Markets. I help traders improve their systems & performance at TraderLion & Deepvue
April 30, 2025
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Market Action
QQQ – Today we gapped lower on economic news and closed strong after a test of the 21ema. Leaders also acted well. This was a great response to a stress test as mentioned could happen the past few reports.
The expectation based on the close and recent action is sideways for higher. Looking for a pop above the 50 sma,
Bulls want to see us break out higher
Bears want to reverse down off the 50sma area and break below the 21ema
Daily Chart of the QQQ.
IWM – Similar action, upside reversal
IBIT – Upside Reversal
Trends (2/4 Up) – Based on the QQQ
Shortest – 10 Day EMA – Above Rising
Short-term – 21 ema – Above Rising
Intermediate term – 50 sma – Below declining
Longterm – 200 sma – Up – Below declining
Groups/Sectors
Deepvue Theme Tracker
Deepvue Leaders Heatmap
S&P 500.
Leaders and Key Moves
TSLA Think this should be a focus if not already positioned. Watching for follow through higher through today’s high
PLTR strong oops reversal. Earnings Upcoming
NVDA Oops reversal, could get going if it can break the 50 sma as well
META oops reversal and gapping up to the 200sma area
HOOD testing the pivot. Focus tomorrow
CRWD Oops reversal watching for follow through
TGTX Follow through higher
MSTR upside reversal
UBER Very strong action
Stocks Setting Up / Showing RS
TTAN pulling into the 21ema and base pivot level, watching for reversal up
SDGR watching for follow through up
TEM Needs to hold here. Earnings upcoming
HIMS Tight down day after the news catalyst yesterday, watching for a break above the high and key level
CRWV watching for the re-breakout
SPOT Got the strong recovery, now can watch for a tight day for follow through above the level
GGAL watching for a break of the flag off the 21ema
GEV Nice oops reversal, watching for a range breakout tomorrow
BULL another ipo to watch carefully for faster traders. Gap and Go or tight range breakout. Could reverse any day
TMDX Watching for follow through up
INOD watching for a pop higher from the range.
AGX watching for follow through higher
AEM make or break moment for gold names. Watching for a breakout from the tight range
CAVA could benefit from WING strength. More overhead on this one
PEGA watching for a range breakout
Today’s Watchlist in List form
Key Names
NVDA, TSLA, META, PLTR, MSTR, CRWD, GOOG TGTX
TTAN, SDGR, TEM, HIMS, CRWV, SPOT, GGAL, GEV, BULL, TMDX, INOD, AGX, AEM, CAVA, PEGA
Focus:
HOOD CRWV GEV HIMS
Themes and Leaders
Strongest Themes: BTC, Miners, Cyber Software
Market Thoughts & Focus
Love the action today, exactly what we want to see with the market shaking off negative news. Now we have to see follow through higher to confirm it. Leaders are acting well and continue to develop.
Earnings season will be a good test as well and could provide some great gapper opportunities up the right sides of bases
Anything can happen, Day by Day – Managing risk along the way