
Upside Reversal To End The Week – NVDA TSLA CEG and more Analyzed
Richard Moglen
Stock Trader & Student of the Markets. I help traders improve their systems & performance at TraderLion & Deepvue
September 20, 2024
Market Action
QQQ – Upside reversal to close out the week just under the next key pivot. Looks constructive
Short Term Expectation based on the close is Higher or consolidation
Bulls want to see this continue to flag out, ideally holding above today’s low and then reconfirm up through the pivot
Bears want to see us lose today”s low and fall below the 21ema

IWM – weaker close as it builds a short term flag

Trends (4/4 Up)
Shortest – 10 Day EMA – Above Rising
Short-term – 21 ema – Above Rising
Intermediate term – 50 sma – Above Declining
Longterm – 200 sma – Up – Above Rising
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Groups/Sectors – % Change from Open

Performance Charts from Deepvue

Key Stocks in Deepvue
NVDA forming this range and compressing against the MAs. Not a great close today

AMZN strong close

AAPL the opposite. Strong selling EOD

CAVA continues to trend neatly above the 10 ema, new highs

CEG monster breakout on highest volume ever after MSFT data centers energy deal news. Was a standout in Deepvue Pre Market Screen.

VST same theme

TEM forming a range here

CRWD standout. above the AVWAP from the day it stopped the world. Look how RMV identified the recent 2 tight areas. See how it deals with the 200 day

ALAB pushing, in due diligence phase. Noticing average volume increasing

TOST pushing. That line is big weekly level. Watching for start of Stage 2 uptrend

RDDT strong move from consolidation this week

KVYO double inside days

LNTH inside day to end the week

FTNT same space as CRWD

PLTR oops reversal off 10ema. some news (or is it noise) about insider selling

OSCR powerful up right side, see if it forms a handle

RBLX at a big weekly level

PRCT inside day

NVAX swing trade type name tightening

TSLA inside day, watch for reconfirmation next week

IBIT larger pattern has potential

ASTS break below the range.

NRG strong breakout, RMV 0 yesterday

Market Thoughts
Good end to the week. Many names trending and working. Semis lagging a bit, see if they can catch up.
Day by Day – Managing risk along the way


