Upside Reversal after CPI

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

Heatmap from Deepvue

Group Ranks: 1 Day, 1 Week, 1 Month, 3 Month from left to right. This is now a preset for Deepvue Members

Leaders and Key Moves

Important Note: Many of these “leaders” are leading to the downside. Still they provide a good gauge of market environment. As new leaders reveal themselves I will curate this list.

NVDA pop higher into the declining 10ema. watching for reversal down

TSLA pop higher, rallies into the 10ema and prior gap level are suspect

META gap up but fade off the highs

RDDT follow through higher, we may have seen the correction lows, needs to form higher lows and reclaim the MAs. Likely resistance against the MAs

PLTR pop higher and good close above the level

OKTA Tightening in this flag

MSTR tight day

ROOT consolidation day at the pivot

Stocks Setting Up / Showing RS

5 Day Slope % Change in Deepvue has been my new favorite way of spotting stocks showing Relative Strength.

As mentioned before 1 day of positive action is not enough, we want to look for persistent relative strength and stocks that are forming sound bases in new leading themes. There is not much of that second part yet so we are casting a wide net

In this type of market something that can look to be holding up well can completely fall apart the next day. Need to be nimble, selective, and quick if participating at all.

HSAI tight action after the breakout, watching for continutation

PTGX watching for a range to form

ACLX biotech name that can trend, pushing above the 200sma

TGTX pulling into the pivot

ADMA another biotech that can trend pushing higher

LI and china names still look strong

KC very speculative name formign a pivot

AEM setting up in this base, watching for a breakout. Miners look strong PAAS

YOU setting up a pivot here still

GOLD setting up still under this DTL

ZLAB tight

BABA tight action within the base

ERJ setting up a range post power move

MP strong upside reversal at the pivot

GSHD wide range but tight closes in this range. ERIE however in insurance broker lower

UBER holding near the 50 sma, needs to respond here

WGS needs to hold here

INOD strong action off the 50sma, watching for 21ema reclaim

BE Acting well in this base, holding above the MAs

Watchlist in List form

Potential Leaders + Mega Caps ( Overall leading to the downside for now)

NVDA, TSLA, META, RDDT, PLTR, OKTA, MSTR, ROOT

Stock on Watch

HSAI, PTGX, ACLX, TGTX, ADMA, LI, KC, AEM, PAAS, YOU, GOLD, ZLAB, BABA, ERJ, MP, GSHD, ERIE, UBER, WGS, INOD

Themes and Leaders

Strongest Themes: Insurance Biotech Miners Health Care Equipment China Aerospace/Defense.

Market Thoughts & Focus

I like the action today. It still follows the these that a local low has been set and potentially some base lows. This does not mean the volatility is over as it can be very choppy as we work to form higher lows.

We still need to see follow through and expecting resistance at declining MAs. If we reverse lower sharply expecting further weakness.

Anything can happen, Day by Day – Managing risk along the way