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 ↓
QQQ - another strong day off the open and great close. QQQE also looks good set to breakout
IWO not nearly as strong. bigger caps still leading
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
NVDA sitting on the 21ema
TSLA continues to expand higher. short term extended now but looks like the start of a trend
RDDT breakout, the outside day or reclaim of the 21ema were the best spots
ARM forming a shelf, watching for follow through
APPF responding from the pivot area
CAVA inside day
VST compressed against the 50 day
Ideally we see follow through on this breakout on the Qs. A failed breakout would be a negative sign. Big caps AAPL AMZN look goo.
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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