Our Live Trading Rooms Bring Together Thousands of Traders from Around the World!
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)...
With the move today, the metals market is certainly getting more interesting.GDX has now moved beyond its 1.00 extension off the lows, which MAY suggest this is a 3rd wave in a leading diagonal. Yes, I know I am not a fan of leading diagonals. But, if we do complete one here, I would strongly consider it as the first wave in the next major move higher. But, I will need to see a CLEAR corrective pullback thereafter before I am willing to add the remaining amount of cash I am holding.
After moving sharply higher over the past several days, we saw the market pull back today. We are still sitting over key support, and as long as that support holds, the pressure will remain to the upside per the yellow count. Should that support zone break on five waves, then it would open the door to a top per the white count. For now, however, the market pressure remains up.
Our Technical Analysts Share Their Expertise 24/7 on a Vast Range of Markets!
