The Market Reconfirms Down. At a Key Level
Richard Moglen
Stock Trader & Student of the Markets. I help traders improve their systems & performance at TraderLion & Deepvue
February 27, 2025
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Market Action
QQQ – Very negative action after the slight gap higher. Selloff, base, then more intense selling into the close. We are not approaching the base lows.
Short term expectation is further downside with awareness that we are a bit stretched
Bulls want to see us either form a positive expectation breaker with a a gap and strong action, or sharp move down that is bought up and closes near highs. Either way we are basically watching for the reversal extension
Bears want to see us follow through down and close the week near lows
IWM – New Lows below the 200sma
IBIT- inside bar closing near lows
Trends (1/4 Up) – Based on the QQQ
Shortest – 10 Day EMA – Below declining
Short-term – 21 ema – Below declining
Intermediate term – 50 sma – Below declining
Longterm – 200 sma – Up – Above Rising
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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
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Post Market Action.
Leaders and Key Moves
NVDA follow through down. below the MAs. Large downside reversal, likely to test lows
TSLA trending lower, about to test the 200sma and election gap low
META downside reversal at the declining 21ema
RDDT testing the base low again
PLTR downside reversal closing below the 50
CRWD downside reversal off the 21ema
BROS some RS. Any stock holding above recent swing low or above their 21emas should be added to RS lists
U holding the 10ema, good close as it tries to build out
HIMS downside reversal off the declining 21ema
Stocks Setting Up / Showing RS
XPEV and china names have been trending. Extended now
HEI Earnings Gap
LLY downside reversal, but acting well overall holding the 10ema
LNTH healthcare equipment names popping up
ROOT and and insurance leading
SOLV holding firm
ERJ strong with HEI
SEI holding the pivot
LINE REIT off the bottom with some power, longer term downtrend
NTNX earning gap, mixed close
GRRR holding the 21ema
WGS health care equip upside reversal at the 10ema
Themes and Leaders
Strongest Themes: Biotech Miners Insurance China Aerospace/Defense
Market Thoughts & Focus
Reconfirmation down in a big way today with a close at lows. Still a very negative market. We will have to see how we close out the week.
Insurance and defensive groups leading, not a time to be aggressive for growth stock traders until we see a reversal extension and at least higher low to form.
Anything can happen, Day by Day – Managing risk along the way