Strength Under the Market Surface

Hi everyone,

I hope you are having a great Tuesday!

In this article I’ll concisely share my thoughts on the day’s action. And share a bunch of stock charts that caught my eye.

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Now let’s dive in ↓

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Market Action

QQQ - positive expectation breaker. Gap up and strong close after yesterday’s close at lows

QQQE looks constructive, see if we get follow through up from upside reversal

Trends 4/4 ( Based on QQQ)

Shortest - 10 Day EMA - Up - Above Rising

Short-term - 21 ema - Up - Above Rising

Intermediate term - 50 sma - Up - Above Rising

Longterm - 200 sma - Up - Above Rising

Group/Sectors % Change from Open

Semis and Crypto theme standing out today

Key Stocks in Deepvue

NVDA strong rebound off the 21ema. would like to see it form a shelf here

SNAP Breakout

RDDT 21ema reclaim and strong bar

PINS notice the recent pullback was on low volume

BROS strong action

TMDX push up, not yet through highs

GME upside reversal and tight

HOOD inside day

Market Thoughts

Rotation back into Semis, Crypto names.

Reminder:

Risk Management is Paramount

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. Look for a tight and logical entry point.

Have patience, focus on the best stocks with the greatest potential. These will telegraph the rest of the market.

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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Cheers!

Richard


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