Leaders Speak:
Back when markets were struggling and there was not a breakout to be found we started leaning bullish. Overall we frequently like to say there is no reason to catch a falling knife until a technical catalyst presents itself. On the Nasdaq, there was no reason to get involved until good risk/reward showed up with the bullish counterattack candle on 4/7 (notice the doji candle Tuesday). One of the first to record a breakout was the daily chart below of PLTR, and we also like to mention that not only do the best breakouts work right away but they offer add-on buy points on the way UP. We originally looked at PLTR in our 4/11 Tech Note, then CRWD in our 4/16 Technology Note and then NFLX in our 4/23 Technology Note and breakouts started to expand solidifying the bullish theme. Nothing goes up in a straight line and CRWD is now offering an add-on above a 450 bull flag pivot which would carry a measured move to 540. NFLX ran 200 handles from its double-bottom breakout. These were among the first to breakout, and they should be watched with an eagle eye. If these start to disintegrate that would be a big red flag. For PLTR that means holding the 118 area going forward.