The S&P Breaks Out to New Highs

Market Action

QQQ – Follow through higher which a good close

Short Term Expectation based on the close is consolidation or continuation higher

Bulls want to see continuation up towards highs
Bears want to see us reverse down and close the week negatively

SPY New Highs

IWM – weaker, bit of a fade from highs

Trends (4/4 Up)

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

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Groups/Sectors – % Change

From yesterday’s close on the left, from today’s open on the right

Performance Charts from Deepvue

S&P 500 % Change from Open vs Relative Volume

Deepvue Leaders Heatmap

Heatmap from Deepvue

Key Stocks in Deepvue

NVDA consolidation day, would like to see it close the week well

TSLA tight near the 21ema before the robotaxi event tomorrow

META upside reversal off the 10ema

ALAB gap up after announcing new products and analyst raises. Could kick a trend into gear

GGAL strong push, YPF similar in theme

MELI strong action from the tight area it formed on the 50 sma

VRNS breakout

TVTX strong move. RMV 0 yesterday

HIMS tightening here

TEM see if it reconfirms down or pushes higher

RDDT downside reversal, see if it can hold and build here

CAVA good action

DUOL shelf against the 10ema

KVYO grinding higher. Against the 10ema

CEG negative bar breaking lows. Against AVWAP, see if it can build here

Market Thoughts

Good action again, see how we close the week. Interested in how TSLA acts tomorrow.

Day by Day – Managing risk along the way