Market Overview
SPY is at 762.25, and below the 21 EMA at 765.65 after failing to hold last week’s push through 770. The 8 EMA at 766.53 is rolling over and closing in on a cross below the 21, which is the tell that this pullback has some teeth. The 50 day at 758.02 is still rising and sits below price, so the broader uptrend isn’t broken, but we need to see buyers step back in above 765 fast or this rolls into a deeper retest. VIX at 16.5 is calm, which tells you this is more of an orderly digestion than a panic move right now.
Top Setups — 2 Signals
MRVL — BULL · MEGA
Calls Bought · Strike: 320.0 · Exp: Nov26 · 1432 contracts · $1.3M
MRVL is running well above its EMA stack, with the 8 at 224.14 and the 21 at 222.79 stacked under a price near 237.58, so this isn’t a pullback-to-21 setup anymore, the 8 EMA is your nearer support if this pulls in. Weekly structure is clean with higher highs and higher lows and the stock is well outside its fib pocket to the upside, confirming the trend is intact. The Nov 320 call buy, over 1400 contracts for $1.3M, is a longer-dated bet that this move keeps grinding higher even with IV already elevated.
PLTR — BULL · MEGA
Calls Bought · Strike: 190.0 · Exp: Dec27 · 2200 contracts · $8.9M
PLTR is sitting right on top of its 21 EMA at 171.69 with price at 170.53, so this is a legitimate decision point rather than a chase. The 8 EMA at 175.01 is above price, meaning the stock has cooled off from its recent highs and is now testing the level that matters most. The Dec 190 call buy, 2200 contracts for nearly $9M, is a large directional bet that this 21 EMA test holds and the stock resumes toward new highs, though the weekly chart still lacks confirmed higher highs and higher lows so this is more of an early-stage trend bet than a confirmed one.
