Market Stays Flat, Stocks Move Higher
I hope you are having a great Monday!
In this post I’ll concisely share my thoughts on today’s action. And share a bunch of stock charts that caught my eye
Now let’s dive in ↓
The QQQ continues to move sideways holding the pivot. Close off highs today
The IWO is forming a constructive pattern and tight range
Volume was higher on the NYSE and higher on the Nasdaq thank friday’s half session
Trends ( Based on QQQ)
Shortest - 5 Day SMA - Mixed - Below flat
Short-term - 21 ema - Up - Above Rising
Intermediate term - 50 sma - Up - Above Rising
Longterm - 200 sma - Up - Above Rising
Retail/software stocks strongest today SHOP AFRM PINS. Growths stocks in general acting well.
Here’s a Daily Group Performance chart (% From Open) from TraderLion:
Key Stocks in Deepvue
SYM great action
AFRM strong gap and go move
ROKU strong breakout from the tight range
DUOL could not push out. some wedging action here. ideally it pulls back and tightens
DASH upside reversal
ACLX upside reversal
PLTR hesitation bar at the 21ema
NVDA forming a range here near 21ema area
SKYW one of many names still forming tight areas
Some nice moves today and many setups still shaping up. Would like to see the IWO confirm up.
Refuse to enter randomly without managing risk and wait for the spots to develop, they will. Stocks during strong moves always pull back to the 21 ema, 50 sma multiple times.
Have patience, focus on the best stocks with the greatest potential. There will be many opportunities
Take it day by day and manage risk along the way. Be ready for anything
What are your thoughts on today’s action? (Leave a comment below)
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