We’ve officially entered “head scratching” territory.

On one hand, I want to believe we have finally gotten to the point where we’re going to get some de-escalation in the Middle East.

Time will tell.

But the markets were also oversold to begin with last week. So I believe we could get at least a 2-3 day rally out of yesterday’s news.

In the meantime, I’ve been looking at my S.A.M. Scanner to find charts with squeezes for big moves off any bounces.

One chart I really like right now is Palantir (PLTR).

PLTR is a data integration company that uses analytics to enable government agencies, militaries and corporations to analyze data from multiple sources.

Its tech has been actively involved in the Iran war effort and while I’m not here to cheer for war, the reality is: escalation drives defense spending, and defense spending drives PLTR’s revenue.

The stock already started to surge in premarket yesterday, jumping 5% that morning.

But I believe it still has room to run.

Here’s why…

According to S.A.M., PLTR has multiple A+ squeezes on the 195-minute and 130-minute charts, which I highlighted with a yellow arrow in the 195-minute chart below. The red dots represent the squeeze.

A+ squeezes mean the Bollinger bands on the chart are contracting – the stock is coiling amid volatility. It’s compressing like a spring. The tape is loaded, and PLTR could be ready to roar.

I’m not positioned on PLTR yet, but it’s one of my top watchlist plays this week.

At the time of this writing, the stock is sitting at $159.

I’ll be targeting a move back into the $180 range.

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