The Market Coils Before the Election – PLTR and ALAB Gap Up After Hours

Market Action

QQQ – forming a range between a 21ema and 50 sma. We’ll see which way we pop out

Think we see more chop weakness until the election. With earnings and the election things can turn on a dime, have a list of stocks you are focused on finding spots in but always manage risk.

Short Term Expectation based on the close is consolidation or lower

Bulls want to see us snap back higher or build near the 50 sma and then rally up.
Bears want to see us follow through down and break the 50 sma

IWM – also coiled

Trends (2/4 Up)

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

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Groups/Sectors – % Change

From yesterday’s close on the left, from today’s open on the right

Performance Charts from Deepvue

Deepvue Leaders Heatmap

Heatmap from Deepvue

Group Ranks: 1 Day, 1 Week, 1 Month, 3 Month from left to right

Key Stocks in Deepvue

NVDA holding here, see if it pushed up or reverses down

TSLA at a key level, 21ema and gap up low. See if we start a u turn higher

ALAB strong gap on earnings beat

PLTR also gapping up to new all time highs

FRPT breakout

TEM nice pop through the 21ema but down after earnings

VST gap down after earnings. CEG as well and is weaker.

PRCT has been holding up very well

TVTX upside reversal

HOOD holding the 50 day for now

GRMN flag

QFIN tight at the 21ema

RDDT pulling back and low DCR close. Watching for U turn

DUOL tight before earnings

Market Thoughts

See how we act yesterday and wednesday morning

Day by Day – Managing risk along the way