Good morning and Happy Monday, the 8th, traders. This is Jake from jakethestockguy.com. Today, SPY, another gap higher on stimulus bubble getting bigger. TSLA buys [00:41] wins another Super Bowl. What a great way to start the week, 390, 25 resistance if we get there. Let’s take a look at what I’m looking at on the charts.
PLTR, let me blow this [01:51] up. You can see a little better. Nice fade for a couple days, sideways, nice curling up. This could be a big picture cup and handle. We’ll go to the year-to-date. I always start with a big picture, and then I zoom in. I start wide, and then narrow it down. This [02:30] is PLTR on the daily time frame. I like PLTR a lot. I’m starting to get this [02:39] white divergence on the stochastic curling over the red, negative. This is just the colors I used, white for positive, red for negative.
RSI, what is it at? Let me zoom out a little bit. This [03:00] is what I’m going to show you guys. We didn’t quite come back to touch this 50-day moving average on the daily time frame, which I would have liked, honestly. This is the big picture right here [03:20]. Bring this [03:32] down a little bit, something like that [03:45]. There’s [03:51] your channel. Honestly, 50 could be in the cards. We’ll see. I would have liked to have gotten in here [04:04]. It would have been a better entry.
I can’t go through all these charts today. I can’t go through everything this morning because it’s already 9:14, and I still want to get ready for the market to open myself. What I would do is go into the options chain and look at the March 21st, the April 21st, and the February 21st. Maybe even February 12th, but that’s more of a day trade. It could be good.
Where is it at now, extended hours 37 up 10 points. Why didn’t we buy this [06:00] at the close on Monday? Why wasn’t anybody showing me this [06:04]? Maybe you were. I must have been tired by the end of the day Friday. PLTR, what a good gap up.