Upside Reversal Action
Richard Moglen
Stock Trader & Student of the Markets. I help traders improve their systems & performance at TraderLion & Deepvue
January 23, 2025
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Market Action
QQQ – Good upside reversal action. I like how we are treading water a bit here. Ideally we let the 10ema catch up to price.
Short Term Expectation based on the close is consolidation or higher – some more sideways would be prefered. If we build a tight range here A+
Bulls want to see build sideways or follow through up
Bears want to see us reverse lower sharply
IWM – Good action as well with the oops reversal and good close
Bulls want to see us continue higher through the 50 or flag out constructively
Bears want to see us reverse lower and test the 21ema
IBIT- Fade from highs, sort of in no mans land here as it forms the range.
Bulls want to see us build out sideways here for a few days or follow through up
Bears want to see us reverse lower back to the 21ema filling the gap
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
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Groups/Sectors
Performance Today from open on the Left, Performance over the past 20 days on the right.
Performance Charts from Deepvue
Deepvue Leaders Heatmap
S&P 500
Group Ranks: 1 Day, 1 Week, 1 Month, 3 Month from left to right. This is now a preset for Deepvue Members
Post Market Action – TWLO up on earnings
Leaders and Key Moves
NVDA good action holding the gap, would liek a bit more of a handle before a breakout attempt
TSLA lagging a bit in the very short term but low volume pullback to the 21ema. Earnings next week
RDDT tightening at the pivot
GEV trending but a bit stretched, expecting a pullback
PLTR good action, approaching the pivot now, ideally rests and forms a range
ALAB bit upside reversal on the 50 sma, watching for follow through up
MSTR fade off highs, doing noting wrong but watching for a definitive push higher
BE strong oops reversal today
TEM continued strong action on large volume, will be watching for a higher low spot
Stocks Setting Up / Holding Up
COIN still watching for a push from this range
MSTR same as coin
SYM robotics theme, watching for a push up from the upside reversal.
ASAN watching for a pivot breakout
RDDT watching for reconfirmation up
RUM speculative swing trade idea
DAVE fast mover, watching for push from the inside day
TSLA watching for push from this flag
BROS watching for follow through
TWLO watching the earnings gap tomorrow
ALAB watching for follow through through the DTL
GLBE watching for follow through up or another pivot to form
Themes and Leaders
Key Themes: Software, AI, Semis. Crypto, Energy. Space
These names have the top RS, growth stories
TSLA GEV RDDT ALAB VST MSTR COIN NVDA HOOD VRT
Market Thoughts & Focus
Good action. Watching to see how the crypto them acts here. Mentally aware still that we couold have a sharp pullback here in the market being a bit stretched.
Daily Focus will be on COIN MSTR ALAB
Anything can happen, Day by Day – Managing risk along the way