Continuation Up, The Rally Stays Alive

Hi everyone,

I hope you are having a great Tuesday!

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

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Now let’s dive in ↓

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Market Action

Some follow through today. We will have to see how it acts as it meets the declining 21 ema.

The IWO remains weaker. Below the moving averages

Volume

Volume was lower on the NYSE and the Nasdaq.

Trends ( Based on QQQ)

Shortest - 5 Day SMA - mixed - Above Declining

Short-term - 21 ema - Down - Below Declining

Intermediate term - 50 sma - Down - Below Declining

Longterm - 200 sma - Up - Above Rising

Group/Themes Action

Bitcoin related stocks gapped up. Software stocks also acted well

Here’s a Daily Group Performance chart from TraderLion:

Key Stocks in Deepvue

Top performing stocks on the Deepvue Leaders screen:

MEDP MSTR MNSO SPOT GE SYM TAL VRT LNW ANF PDD ACMR EDU ARES BRBR AEO SFM LLY PLTR CYBR GWRE PANW NTNX ESTC ANET VRNS CRWD RELY NWSA URBN NWS NFLX OWL ZS RPD WING CLS DUOL

LLY nice action off the 21ema

MSTR following BTC price action

VRT EPS tomorrow

SPOT gap up

CRWD some follow through off the 21

TSLA not a good close, can it hold the 200

NTNX retakes the 21

Market Thoughts

Continued positive action. Ideally things consolidate and tighten, then reconfirm up. On the Qs we’ll have to see how it acts at the declining 21 ema.

Take it day by day and manage risk.

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

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