The Market Reconfirms Down. TSLA NVDA Sell Off

Market Action

QQQ – Gap down and trend down, close below the 50 day.

IWM – Downside reversal

Trends (1/4 Up)

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

Groups/Sectors % Change from Open

Performance Charts from Deepvue

Heatmap from Deepvue

Widespread distribution. Banks showing some RS

Key Stocks in Deepvue

NVDA Reconfirmation down

LNTH downside reversal but still holding up much better than most

HIMS tight day when most of the market was down big

TSLA gap down on earnings

COIN follow through down

Market Thoughts

Trend down day. Most of the positive charts i’ve noticed reversed hard today. Less is more type of market for position trading.

Keep monitoring for RS, Day by Day.