Another Follow Through Day | Stocks to Watch

Hi everyone,

I hope you are having a great Thursday!

In this post I’ll concisely share my thoughts on today’s action.

Now let’s dive in ↓

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Market Action

Wow, The QQQ popped followed through with a gap up and strong close. We are now back above a rising 21ema and just below the 50 sma

Good to see the IWO also acting well with a nice pop. Still below the MAs here

Volume

Volume was higher on both the NYSE and the Nasdaq.

Trends ( Based on QQQ)

Shortest - 5 Day SMA - Up - Above Rising

Short-term - 21 ema - Up - Above Rising

Intermediate term - 50 sma - Down - Below Declining

Longterm - 200 sma - Up - Above Rising

Group/Themes Action

Strong action from my WLs. interesting to see energy names strong alongside growth

Here’s a Daily Group Performance chart from TraderLion:

Key Stocks in Deepvue

PLTR gap up on the EPS beat. SHOP AFRM also with gaps

CYBR I think we should be watching this one along with CRWD. 80% EPS surprise and huge base

UBER gap up today

ADBE strong action. AI theme. Needs tightening

NVDA back above the 21ema

AMD consolidation bar

Market Thoughts

More evidence of a shift going on. Watch the price action. I see a lot of strength on my lists.

With a few powerful days up I wouldn’t mind to see some consolidation through time.

Take it day by day and manage risk along the way

What are your thoughts on today’s action? (Leave a comment below)

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Richard


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