Upside Reversal
Richard Moglen
Stock Trader & Student of the Markets. I help traders improve their systems & performance at TraderLion & Deepvue
June 1, 2025
Market Action
QQQ – Upside reversal after some follow through down as we continue to build out this handle. We did not quite fill that gap (by a few cents) which I take as a sign of demand. Set up for higher into the next week with the expectation being follow through up.
Bulls want to see us follow through higher
Bears want us reverse back lower below the 10ema
Daily Chart of the QQQ.
IWM – Drifting back into the 21ema
IBIT – Pulling back sharply into the 21ema, an ear where you would expect to see some support
Trends (4/4 Up) – Based on the QQQ
Shortest – 10 Day EMA – Above Rising
Short-term – 21 ema – Above Rising
Intermediate term – 50 sma – Above Rising
Longterm – 200 sma – Up – Above Rising
Groups/Sectors
Deepvue Theme Tracker
Deepvue Leaders Heatmap
S&P 500.
Leadership
TSLA follow through down below the pivot, watching for a reclaim of that level
PLTR After some volatile intraday moves PLTR closed very strong
NVDA Semis pulling in. Testing the 10ema
META Upside reversal within the consolidation
HOOD Strong reversal action just below the base pivot. On watch for the base breakout
MSTR Forming a range hear below the 21ema against the lows AVWAP.
CRWD Acting well bounce off the 10ema
UBER Pulling into the base pivot after breaking the 21ema,
HIMS broke above the range pivots friday, watching for follow through
Key Moves
PONY oops reversal, see if it has more momentum move left
LEU strong oops reversal off the base pivot, this theme is acting well. Watching for follow through up
Setups and Watchlist
MGNI watching for a range breakout
FROG watching for a range breakout
NRG watching for follow through up off the 10ema
NUTX very fast mover, watching for a range breakout
ECG watching for follow through up
COIN tight day, watching for reversal
ONON watching for 10ema flag break
AS tight pullback, watching for a reversal up
DUOL oops reversal, watching for follow through
Today’s Watchlist in List form
Key Names
NVDA, TSLA, META, PLTR, MSTR, CRWD UBER HOOD HIMS
MGNI, FROG, NRG, NUTX, ECG, COIN, ONON, AS, DUOL
Focus:
HOOD HIMS LEU FROG
Themes and Leaders
Strongest Themes: BTC, Miners, Software, Cyber,
Market Thoughts & Focus
Leaders acting well today and good close to the week. My expectation is we follow through higher. We’ll see what happens.
Anything can happen, Day by Day – Managing risk along the way
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