Consolidation Day, Stocks Act Well
Hi everyone,
I hope you are having a great Monday!
In this post I’ll concisely share my thoughts on yesterday’s action. And share a bunch of stock charts that caught my eye
Now let’s dive in ↓
Market Action
The QQQ put in a constructive consolidation day with a good close. I would not mind some more back and fill into the moving averages after the momentum move up last week.
IWO was weaker, but remains above the 21 ema. ideally a range forms here and then reconfirms up.
Volume
Volume was lower on the NYSE and lower on the Nasdaq.
Trends ( Based on QQQ)
Shortest - 5 Day SMA - Up - Above Rising
Short-term - 21 ema - Up - Above Rising
Intermediate term - 50 sma - Up - Above Rising
Longterm - 200 sma - Up - Above Rising
Group/Themes Action
Mostly a consolidation day from the stocks/themes on my WL
Here’s a Daily Group Performance chart (% From Open) from TraderLion:
Key Stocks in Deepvue
DKNG great close and follow through from HVC
AMD constructive inside day
ANET could use some more pull back
CEG great bar. Continues to trend. This is a model stock that should be studied this year
DELL through a pivot
MMYT nice action off the MAs
DECK continues to grind higher
CELH earnings before the open. Can it live up to expectations
CRWD consolidation day. CYBR Inside
QLYS nice inside day
Market Thoughts
Constructive day looking through my watchlists and screens. A bit more sideways action would set up some golden setups.
Take it day by day and manage risk along the way
What are your thoughts on today’s action? (Leave a comment below)
This post was brought to you by Deepvue Charts. My Daily Driver for Charting, Alerts, Watchlist Management, and more!
I hope you found this article helpful!
Here is what you can do to help make them possible and support my work.
Leave a like on this post below
Cheers!
Richard
P.S. We just released a new free resource: The Ultimate Screening Guide
This will help you find top stocks faster and speed up your routines.