The Nasdaq Equal Weight Breaks Out

Market Action

QQQ – strong push higher. More short term extended. Catalyst tomorrow

QQQE – Breakout, looks constructive. ideally we can see rotation and breadth improve

Trends

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

Groups/Sectors % Change from Open

Performance Charts from Deepvue

Heatmap from Deepvue

Mixed bag today. Biotech still strong. Miners. Semis mixed strength

Key Stocks in Deepvue

NVDA continued strength, ideally it still consolidates a few more weeks., QRVO MKSI AMD acting great

HIMS downside reversal but still in range

TSLA grinding higher. near potential resistance. Feels like just the start of a trend

LABU near top of the range

AMGN follow through up

LNTH massive breakout and gap on news catalyst.

PAAS many miners showed strong action. AEM as well

NBIX acting well, continued strength in biotech. This has a great long term pattern

Market Thoughts

CPI tomorrow. QQQE just getting started and seeing setups. Hard to get super bearish despite QQQ feeling stretched.

Take it day by day and default to the trend. With news even be ready for anything. Gap & Go, Gap and fail. Know your plan and how you will respond to each situation for your positions & ideas