Strong Response to the Market Gap down. CPI Next
Hi everyone,
I hope you are having a great Tuesday!
In this article I’ll concisely share my thoughts on the week’s action. And share a bunch of stock charts that caught my eye.
Before we get into it, I will be doing a Free Webinar tomorrow at 6pm EST on trading VCPs/tight ares and the RMV Indicator. I hope to see you all there! You can sign up using this link: https://us06web.zoom.us/webinar/register/WN_0V4z8iyQQ76aa7r3WtSC8Q
Now let’s dive in ↓
Market Action
QQQ pushed higher after a slight gap down. CPI on deck
IWO gapped up and held
Trends ( 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 the Open in Deepvue
Social Media/Meme, Semis/AI, Fast Food, Miners, China
Key Stocks in Deepvue
Current Universe list:
AA AAPL AMC AMZN ANF APP ASPN BPMC CCJ CEG CAVA CLSK CMG COIN ARM CPNG CRS CRWD CVNA DUOL FRPT GCT GE GME GOOG GOOGL HIMS HOOD HWM IOT KD LIVN LPX LRN MARA META MOD MSFT MU NFLX NTNX NVDA OSCR PAAS PI ALAB RDDT PLTR PRCT QCOM SCCO SG SMTC STRL TDW TEVA TMDX TNDM TOST TSLA TWST TXRH VRT VST WING ZETA
NVDA found support at the 10 ema. close near highs
PI strong action off the 10 ema. Many strong Semis today. KLAC QCOM
AMZN strong reversal off the open. the green line is previous highs
PINS pullback to the base pivot
TMDX tried to pullback but closed off highs
SG could not push out from the inside day
KLAC outside day
ALAB forming a range here under the 21ema
ARM tight day just under the 50
WING retest of the base pivot
NTNX strong oops reversal
ONON earnings gap and surprise
Market Thoughts
Strong response to the gap down. we will see how CPI is handled.
What are your thoughts on today’s action? (Leave a comment below)
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Cheers!
Richard