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This Is Not Investment Advice
The Market Right Now - NVDA and PLTR
Mathematically and literally it is challenging for the QQQ, Nasdaq, and S&P 500 to rise if stocks like NVDA and PLTR are not helping. I don’t make the rules. That is reality.
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This report will detail exactly what concerns me with these two stocks specifically and others in a similar position. These are my own views and how they would impact my decisions. This isn’t a popularity contest and I am not concerned about making friends.
PLTR Weekly
PLTR Daily
Thoughts and observations:
Money Flow is Red on the Weekly
PLTR Daily . . . . . twice since the April low and ‘Melt Up’ market gave it a nice cushion on the 50 Day EMA and more recently it has plunged through the 50 and it went down there on increasing Volume . . . . . that was followed by a very weak and Low Volume relief rally trying to get back up to a now declining 50 EMA . . . . yes now the Daily Money Flow is Green with this relief rally but you can see the deep Red prior and looks to me like the market has shifted and the momentum is gone . . . . . unless Up/Down Volume improves quick that Green Daily MF won’t last . . . .
PLTR Weekly . . . . . as stated the MF is Red and it is convincingly Red . . . 10 Week EMA was providing support and now it is not . . . . again those big Red down weeks and all of the above looks to me like the market has shifted the momentum is gone . . . . .
NVDA Weekly
NVDA Daily
Thoughts and observations:
To be blunt I don’t care how many MBA bro-skis pitch me on NVDA and offer to slam beers discussing it . . . . the Money Flow is Red on the Weekly and it is emphatically Red . . . . honestly looks to me like institutions are trying to get out without dumping their own exit price too much . . . . .
NVDA Daily . . . . . 2x little Shooting Stars also look like might be the top (coincidence?) . . . . well respected by the 50 Day EMA a few times and on this recent dump it dove right through and Volume picked up to the downside . . . . .
NVDA Weekly . . . . bottom line lotta Red on that Money Flow . . . . 10 Week EMA provided some support and recently it plunged right through it and that Weekly Candle two back is very ugly closing on huge Volume down in the bottom half of the range . . . . . again looks like the momo is gone . . . .
