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Opportunity Knocked! PLTRPLTR (Palantir Technologies) followed the technical price path in reaction to Earnings that we discussed yesterday afternoon ahead of the post-market release.Here is the text of my two updates yesterday, the first at 2:06 PM ET and the second at 4:26 PM ET:If the technical setup into Earnings later today is hinting at a directional reaction to the report, PLTR is poised for a positive response that thrusts the stock through and above key nearest resistance from 133.50 to 139.00 that heads for a confrontation with the declining 200 DMA, now at 152.62... Last is 125.63... (2:06 PM ET)...
In Case You Missed It…As expected, it was not a boring week for equities or volatility. Excluding the broad-based short squeeze seen on Thursday, the equity indexes remain out of sync with each other. I have never seen this condition last this long. It portends more choppy, sideways, price action and the word I have been repeating for months now: indecision. To that end, we are still trading around the Gamma Threshold level and have yet to establish a true long- or short-gamma regime.
After the market moved through the 7654SPX level, it was a strong sign that the bulls have taken back control. And, despite all the misgivings I have had with the yellow count, it seems I am forced to adopt a VERY shallow 2nd wave retracement once again.Currently, the bulls have control as long as they hold over the micro pivot I have outlined on the 5-minute SPX chart – which is now the wave iv of (iii) support, which coincides with the wave iv of (iii) support box I have noted on the 15-minute ES chart.
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