Hi everyone,
I hope you are having a great Tuesday!
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 continued to push higher through the trendline. we are now up 8 days in a row. Very strong move.
IWO is a bit weaker but is consolidating agains the 21 ema
Volume
Volume was very slightly higher on 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 - Up - Above Rising
Longterm - 200 sma - Up - Above Rising
Group/Themes Action
Continued strong action from the WL and fresh moves.
Here’s a Daily Group Performance chart (% From Open) from TraderLion:
Key Stocks in Deepvue
TMDX not supposed to be profitable anytime soon but nice price reaction. This is the highest volume ever
UBER great reaction, beat on EPS
CELH nice growth and surprise but the price reaction was Indecisive.
DKNG continued follow through
PLTR tightening
VRT tightening
ROKU double inside after EPS move
PINS forming a range. Some air still to MAs. At a key level.
Market Thoughts
More constructive action. Names are tightening that had moved up and we still see new names gapping up on earnings and making moves. In general I’d still like to see some range building and tightening action to set up the next batch of pivots.
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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Cheers!
Richard
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Many thank Richard, very valuable information. Would appreciate to see weekly Group/Themes Action
A Messi goal hug!
Thanks Richard. Almost every paragraph tells me the bull is back, and I agree. Thank you.