The Crypto Theme Breaks Out - COIN CLSK MARA

Hi everyone,

I hope you are having a great Monday!

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

Now let’s dive in ↓

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Market Action

Tight day for the QQQ on declining volume, Not good DCR

IWO - Smaller caps much stronger.

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

Crypto the clear leading theme today. Biotech also strong

Daily Performance charts from the open

Key Stocks in Deepvue

COIN strong move from the range it had formed 162-170. Pivots were the two prior day highs. Managing risk at the LOD

CLSK same theme. inside day and up. MARA RIOT MSTR strong pushes as well

SOUN huge move. More speculative name. had HVE a few days ago

FRPT large EPS surprise and earnings move

TWST classic failed breakout forms range at the 21ema. Not big volume

PLTR forming a range. Pivot and unfilled gap above

NET forming a range at 100. Can it push higher or does it need more of a base

SMCI relatively tight day. Expecting expansion up or down soon

AMD tightening. NVDA is resting after the gap up

Market Thoughts

Stellar action from cyrpto names, watching for follow through and good weekly closes. Watching how semis act into the end of the week.

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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Richard


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