Couple of days of corrective action in the market. Many recent tech leaders found support in nearest moving averages. QQQ stalling below 20 MA. Bulls want too see a remount of 20 MA ans bears want to see a push to 50 MA, 245 area.
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Here is the watch list and game plan:
[caption id="attachment_59885" align="alignnone" width="800"]
DKNG Great relative strength. Bounced near 20 MA. I market holds this should breakout 38.84 base.[/caption][caption id="attachment_59883" align="alignnone" width="800"]
CRWD First test of 50 MA after a big run. See if this can hold and bounce.[/caption][caption id="attachment_59884" align="alignnone" width="800"]
FSLY Bearish head & shoulder formation. Ideally a flush to 50 MA and bounce.[/caption][caption id="attachment_59881" align="alignnone" width="800"]
MRNA Holding dual 20.50 MA support. Watching for a build below 74 for a bounce.[/caption][caption id="attachment_59882" align="alignnone" width="800"]
MRNA Holding dual 20.50 MA support. Watching for a build below 74 for a bounce.[/caption][caption id="attachment_59879" align="alignnone" width="800"]
LVGO Remains leader with relative strength. Watching on intraday dips.[/caption][caption id="attachment_59887" align="alignnone" width="800"]
SQ Orderly pull back to 20 MA. See if it holds and bounce.[/caption][caption id="attachment_59886" align="alignnone" width="800"]
ZM Ideally a flush to 50 MA 228 area should be good for a bounce.[/caption][caption id="attachment_59880" align="alignnone" width="800"]
NKLA Ugliest chart around but severely oversold. Eying for a dead cat bounce if strength intraday. Ideally on a base between 30 and 31.[/caption][caption id="attachment_59878" align="alignnone" width="800"]
JMIA Still looks good as a swing trade over 10 as long closes over 8 EMA.[/caption]
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