The Market is Coiled – Ready for a Breakout?

Market Action

QQQ – A very tight day within this range. Likely breaks soon. Up? Down? We’ll see. Structure suggests up

Short Term Expectation based on the close is Higher or consolidation

Bulls want to see this break out to the upside with a statement bar on big volume.
Bears want to see us break lower and close negatively.

IWM – weaker look. Ideally pushes above today’s high after positive expectation breaker

Trends (4/4 Up)

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

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Groups/Sectors – % Change from Open

Performance Charts from Deepvue

Heatmap from Deepvue

Key Stocks in Deepvue

NVDA tightening and near the bottom of this range. Coiled like the market

NFLX tightening near highs

TSLA reconfirmation from inside day

CEG rejected at R2. coiled to end the day. keep an eye on this one

RH tight after the peg. strong quarterly growth estimates

TSM

ARM also interesting

GSHD tight

ORCL tightening after the gap

IBIT tight

RBLX down day but still overall in a consolidation near the big weekly level

RDDT forming a range hear, still a bit stretched short term from MAs

Not seeing too many setups, the follow ing are more swing trade/higher volatility names

NIO tightish closes near the 200 day

NVAX tight against the 21ema

ASTS tight day on lowest volume in a while. see if it can reclaim the range

Market Thoughts

Not many great setups out there, Semis are tight but have been lagging a bit. Software names have been strongest but are a bit stretched.

Day by Day – Managing risk along the way