Daily Market Analysis | Thursday Sep 14

Hi everyone,

I hope you are having a great Thursday!

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

The QQQ rose slightly off the moving averages

The IWO put In a positive expectation breaker bar today.

Volume

Volume was higher on the NYSE and lower on the Nasdaq.

Trends ( Based on QQQ) - All Turn Up

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

Growth Stock leaders acted alright. Coal and Uranium accelerate to the upside. Solar stood out. Cyber acted well.

Here’s a Daily Group Performance chart from TraderLion Private Access:

Key Stocks in Deepvue

CVNA stood out today. Mentioned in Recent WLs and Focus lists

ARRY - nice action from the inside day

TSLA above the inside day but does not feel decisive

RIVN moved above the range and inside day

PLTR tightening at the bottom of this base.

SMCI also tightening but has more base flaws

NVDA still forming that range near the 50 sma

Market Thoughts

Stocks act decently well. Still some tightening going on that should resolve up or down.

Continue to manage risk and take it day by day.

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

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Richard