The Market Makes New Lows

Groups/Sectors

Performance Today from open on the Left, Performance over the past 20 days on the right.

Performance Charts from Deepvue

Deepvue Leaders Heatmap

S&P 500

Heatmap from Deepvue

Group Ranks: 1 Day, 1 Week, 1 Month, 3 Month from left to right. This is now a preset for Deepvue Members

Leaders and Key Moves

Important Note: Many of these “leaders” are leading to the downside. Still they provide a good gauge of market environment. As new leaders reveal themselves I will curate this list.

NVDA held up better than most today but at the declining MAs. Bulls want to see a higher low and follow through up. Bears want to see a reversal back lower

TSLA close off lows but still in a downtrend and up again declining MAs

META Downside reversal closing at lows below the 200sma

RDDT follow through down after testing the 10ema area

PLTR reversal back down

OKTA Building out the flag, the 10ema area key level to hold

MSTR tight day into the declining 10ema

ROOT Coiled between the pivot and 10ema

Stocks Setting Up / Showing RS

5 Day Slope % Change in Deepvue has been my new favorite way of spotting stocks showing Relative Strength.

As mentioned before 1 day of positive action is not enough, we want to look for persistent relative strength and stocks that are forming sound bases in new leading themes. There is not much of that second part yet so we are casting a wide net

In this type of market something that can look to be holding up well can completely fall apart the next day. Need to be nimble, selective, and quick if participating at all.

PTGX pulling back, watching for a flag to build out

HSAI pulling back, watching for reconfirmation up

XPEV china names continue to act well

SARO Recent IPO in Aerospace field worth keeping an eye on. Not very liquid

GFI miners continue to act well along with GLD and SLV

BE pulling back into the MAs, key area to hold for this base to shape up

ADMA ideally flags out letting the MAs catch up

RRC forming a range here at the 21ema. This is a name that can run albeit choppy. Overall has been basing since 2022. See EQT as well same theme

CRK same theme as RRC and EQT

AU with miners acting well

TGTX pulling into the pivot, watching for respect

AEM fade but poking its head out. AGI PAAS WPM GOLD

ACMR continues to trend, strong RS for Semi name

VRTX biotech fade but testing highs. Ideally contracts

ARQT some follow through down

ZLAB push off the pivot

MCK pulliing back to the pivot

MP has been very choppy hear with wicks, needs to clear this area or suspect

YOU pulling into the MA confluence, watching for a push higher

BABA nice little range here, lots of eyes on this though

ERJ forming this range

AXSM forming a range below the 21ema

Watchlist in List form

Potential Leaders + Mega Caps ( Overall leading to the downside for now)

NVDA, TSLA, META, RDDT, PLTR, OKTA, MSTR, ROOT

Stock on Watch

PTGX, HSAI, XPEV, SARO, GFI, BE, ADMA, RRC, EQT, CRK, AU, TGTX, AEM, AGI, PAAS, WPM, GOLD, ACMR, VRTX, ARQT, ZLAB, MCK, MP, YOU, BABA, ERJ, AXSM

Themes and Leaders

Strongest Themes: Insurance, Biotech, Miners, Health Care Equipment, China, Aerospace/Defense.

Energy/Oil and Gas stood out to me today

Market Thoughts & Focus

We tested lows today, the focus is on names that are forming higher lows is the market continues down. There’s not much out there standing out that looks promising.

We didn’t get the follow through up today and instead made new lows. That being said we have not made much progress downwards over the past 4 bars.

Anything can happen, Day by Day – Managing risk along the way