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Updated to include an addendum with Tuesday’s NAS100 liquidating market.
What is a Liquidating Market and How to Trade It?
Palantir Technologies Inc. – PLTR
The downturn was primarily triggered by a renewed warning from short-selling firm Citron Research, which stated the stock’s valuation is “super disconnected from its fundamentals” and drew comparisons to the dot-com bubble.
9.5% dive and All Bets are OFF
This is not anymore a correction – Free fall seems adequate
164.15 & 158.45 lost in one go ….
First possible support is at 151.05
US500 (SP500)
Followed the lead of the weaker NAS, albeit reluctantly but nevertheless broke support.
Pattern: 2 blue Amazing Trader lines drawn off the record high indicating a potential top and change in direction confirmed by the break of 6434… while below it, 6400 (psychological) stands in the way of net support at 6367.
US500 4 HOUR CHART
NAS100 (NASDAQ)
As I have been posting:
While it’s hard to bet against the NAS, it is also hard to ignore the charts, especially this Amazing Trader pattern..
3 blue Amazing Trader lines drawn off the high often sees an acceleration to the downside.
Now that the move down has accelerated, to keep it in check, NAS100 needs to stay above 23500… currently being pivoted.
Below 23500 lies 23408, 23234, 23009 ahead of 23000.
NAS100 4 HOUR CHART
What’s hot and what’s not?
What’s hot?
The dollar is holding firm but mixed
US bonds are firmer (yields down)
What’s not?
AUD, CAD, NZD are weaker vs the USD
GOLD is weaker despite a risk off mood
US stocks are weaker with an underperforming NAS100 dragging down US500
BITCOIN is down, falling further below 120,000
Hims & Hers Health Inc. – HIMS
Many talking on the street about HIMS coming into the Demand zone and similar blubber…
First to understand the facts:
Hims & Hers Hit With Investor Lawsuit Over Illegal GLP-1 Drugs
Such a Legal Fundamental issue can bring down even way bigger companies…
On the technical front, thinking that previous low at 40.88 represents a real support ( demand zone) might be in for a big disappointment.
If HIMS can find a support anywhere right now it is at 30.60 – Uptrend Channel trendline coming back from September 2024.
This is a free fall for now – so try to stay away from speeding train…
Palo Alto Networks Inc. – PANW
Palo Alto Networks rose 4.9% after reporting fiscal fourth-quarter earnings that topped analysts’ estimates and issuing first-quarter and fiscal 2026 guidance that also was better than forecasts.
Market reacted strongly Up and stock opened today with a sizeable gap.
190.00 now a resistance separating it from the upper half of the channel.
Top of the channel sits at 218.00
Support comes at 180.40
Home Depot Inc. – HD
Home Depot rose 4.7% after second-quarter earnings and revenue missed analysts’ expectations but the giant home-improvement retailer said it still expects fiscal-year sales to rise 2.8% and comparable-store sales to increase about 1%.
Resistance just above the head at 418.00
Supports: 407.80 & 405.50
If this prove to be a sustainable rally ( so close tonight above 405.50) it should be in for attack at 426.20
Intel Corporation – INTC
Intel got a boost from SoftBank $2 Bio infusion and now talks about possible US Gov investment
But from technical side , there is one very hard hurdle in front of it – 30.90
Only above that level we can talk about Intel stock strength.
There is another resistance in front of it at 27.55 followed by 28.10- Fibbo level
Supports come at 23.65
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