The Market Sells Off. More China Tensions.
Richard Moglen
Stock Trader & Student of the Markets. I help traders improve their systems & performance at TraderLion & Deepvue
October 11, 2025
Market Action
QQQ – Significant sell off with the catalyst of increasing trade tensions with China. The market seemed to be looking for an excuse for a large down day. It may take time but likely this ends up being a buying opportunity. However until there is clarity this is a headwind for the market as it creates uncertainty.
Bulls want to see us snapback quickly above the 21ema with clarity on the trade deal
Bears want to see follow through down with additional negative news catalysts
Daily Chart of the QQQ.
IWM – Sharp break lower below the MAs and recent range
IBIT – Sharp break lower and crypto hit more after hours.
Trends (2/4 Up) – Based on the QQQ
Shortest – 10 Day EMA – Below
Short-term – 21 ema – Below
Intermediate term – 50 sma – Above Rising
Longterm – 200 sma – Up – Above Rising
Groups/Sectors
Deepvue Theme Tracker
Deepvue Leaders
S&P 500.
Leadership Stocks & Analysis
TSLA – Failed range breakout and close below the key level and 21ema
AAPL break below the flag
PLTR Break lower, close below the 21ema
NVDA sharp break lower
META failure at the 21ema
HOOD sharp close below the 10ema
RDDT negative outside day
ALAB Close below the 21ema
MSFT Break below the pivot and 21ema
Key Moves
MP has been very choppy but trying to break out. Wicks above 80
UVXY pop.
Setups and Watchlist
There’s not much to the long side. Lots of break downs or downside reversals. Will be watching for relative strength if we get further weakness. If we recover, what retakes the 21ema the strongest.
To the short side you can watch for follow through down after the downside reversals but remember that this market is news driver. An announcement of de-escalation can pop everything higher very quickly.
RKLB watching for follow through down
CLSK watching for follow through down.
BVN watching for a range breakdown
Today’s Watchlist in List form
Focus List Names
MP RKLB BVN CLSK NVDA TSLA ALAB
Focus: Mental capital preservation.
Themes
Strongest Themes: AI, AI Energy
Vulnerable Themes: Crypto
Additional Thoughts
It’s a tough situation. Going through my screens not impressed with the action and looks like the start of a pullback. However the catalyst could be reversed and likely we would shoot higher. Vulnerable themes are metals/gold, crypto (unless we recover this weekend)
I’m personally not in a hurry much to do anything early next week. Got defensive Friday as the breakouts reversed. A correction would be a great thing for traders as it would reset the cycle and set up for a strong end of the year.
Anything can happen, Day by Day – Managing risk along the way
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