The Market Fades off Highs. Extended?
Hi everyone,
I hope you are having a great Thursday!
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.
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Now let’s dive in ↓
Market Action
QQQ - faded off highs as we got pretty short term extended. Ideally we see some range building up here letting the MAs catch up
IWO inside but weak close
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, Semis/AI, Fast Food, Miners, China themes I’m watching
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 fade off highs but has room to build out
RDDT Pulling back and forming a handle. Up on OpenAi news after hours
TMDX tight
SG tight
CAVA tight but a bit far from the base
TSLA retesting the MAs
NTNX tight day
ONON forming a range
PAAS inside day
NFLX tight
Market Thoughts
Some slight weakness after yesterday’s powerful action. some sideways trading would be awesome. Noticing a decent amount of tight charts.
What are your thoughts on today’s action? (Leave a comment below)
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Cheers!
Richard