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 - positive expectation breaker. Gap up and strong close after yesterday’s close at lows
QQQE looks constructive, see if we get follow through up from upside reversal
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
Semis and Crypto theme standing out today
NVDA strong rebound off the 21ema. would like to see it form a shelf here
SNAP Breakout
RDDT 21ema reclaim and strong bar
PINS notice the recent pullback was on low volume
BROS strong action
TMDX push up, not yet through highs
GME upside reversal and tight
HOOD inside day
Rotation back into Semis, Crypto names.
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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