PLTR Gap Down on Earnings
Richard Moglen
Stock Trader & Student of the Markets. I help traders improve their systems & performance at TraderLion & Deepvue
May 5, 2025
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Market Action
QQQ – slight gap down and meh close but overall constructive action just below the 200 sma.
The expectation based on the close and recent action is sideways. On guard for a rejection lower from the 200sma
Bulls want to see us build sideways or pop through the 200sma
Bears want to reverse down off the 200sma.
Daily Chart of the QQQ.
IWM – negative close but tight day
IBIT – Gap down to the pivot 10/ema, needs to hold here
Trends (2/4 Up) – Based on the QQQ
Shortest – 10 Day EMA – Above Rising
Short-term – 21 ema – Above Rising
Intermediate term – 50 sma – Above declining
Longterm – 200 sma – Up – Below declining
Groups/Sectors
Deepvue Theme Tracker
Deepvue Leaders Heatmap
S&P 500.
Leaders and Key Moves
TSLA Range building just below the 200sma. Shake to the 10ema and decent close, watching for a break up through today’s high and a move through the 200sma
PLTR Gapping down to the 10ema area on earnings. Key watch tomorrow to see how it acts after.
NVDA holding and building a range here. Watching for a push through highs
META Acting well, inside day holding above the 200sma
HOOD Love this action. Shake below the range and strong close after the 21ema pullback. Watching for follow through up tomorrow
CRWD Watching for a pullback into the 10ema before the base breakout attempt
TGTX negative action, gap down on earnings. will likely take off the watchlist unless it can build and push higher in the next few sessions
MSTR upside reversal, trending higher
UBER Good action off the gap down, could use a pause back into the pivot
Stocks Setting Up / Showing RS
TEM on watch for earnings tomorrow
DUOL Watching for a post gap range to form
SDGR Strong oops reversal. Earnings Watch
VRNA watching for the range breakout
MELI watching for a push higher off the 10ema area through today’s high
U watching the earnings reaction, coiled and can move
TTAN watching for the range breakout or pullback to the base pivot
HSAI watching for a range breakout
ROOT watching for a range breakout
GRAL watching for a range breakout
SHOP liquid name, watching for follow through up from oops reversal
BULL watching for the range breakout higher
SNOW watching for a range breakout but ideally builds out more
NMAX watching for a range breakout or gap & go
Today’s Watchlist in List form
Key Names
NVDA, TSLA, META, PLTR, MSTR, CRWD, GOOG TGTX
TEM, DUOL, SDGR, VRNA, MELI, U, TTAN, HSAI, ROOT, GRAL, SHOP, BULL, SNOW, NMAX
Focus:
HOOD TSLA HSAI
Themes and Leaders
Strongest Themes: BTC, Miners, Cyber Software
Market Thoughts & Focus
Good action today, really like how HOOD acted. PLTR gapping down is a slight negative but not expected given it’s strong action. How it acts tomorrow will be key. Does it gap and build or follow through down.
Earnings season will be a good test as well and could provide some great gapper opportunities up the right sides of bases
Anything can happen, Day by Day – Managing risk along the way