Hi everyone,
I hope you are having a great Monday!
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 ↓
QQQ - below the 10 ema now, looks like a retest of the 21ema is likely.
IWO choppy. having trouble with the 21ema
Shortest - 10 Day EMA - Down - Below declining
Short-term - 21 ema - Up - Above Rising
Intermediate term - 50 sma - Up - Above Rising
Longterm - 200 sma - Up - Above Rising
strength in energy, biotech. Semis pulling in
NVDA sharp pullback to the 21ema. see if it responds here. Broke the 10 ema. Near weekly clothesline level.
MRO energy names acting well. DV leaders: MRO TRGP SUN EC WES CEIX AR CCJ ETRN
CVNA perked up
PAAS many miners look similar. AGI AEM
FSLR fighting to build a range here
CRWD one to watch for a pattern as long as it holds above the base pivot area
RL base near a big spot on the weekly
GME tightening. no idea if it expands to the upside or downside
Semis more pullback see if we rotate into other groups.
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
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Cheers!
Richard
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