Michael Burry Discloses $1.1 Billion Put Against Nvidia and Palantir

Michael Burry's disclosure of a $1.1 billion put against NVDA creates a negative news flow in the short term and could distort investor sentiment. However, the price is still above the SMA20 and the RSI at 61 is not in overbought territory; this suggests that selling pressure may remain limited. The MACD is in negative territory and below the signal line, giving a weak momentum signal. The impact of the news is likely to be short-lived and the market reaction could stabilize within 1-3 days. Nevertheless, the presence of a large short position increases downside risk, especially if combined with weak macro data or a general sell-off in tech stocks.

The news that Michael Burry has opened a large put position against Palantir could create negative sentiment in the short term. However, the stock has risen 5.5% in the last 24 hours and the RSI is at 61, approaching overbought territory; this increases the risk of some pullback. The MACD is above the signal line and the price is above the SMA20 and SMA50, so the technical outlook remains positive. Burry's announcement could create short-term selling pressure, but its impact may be limited. Nevertheless, with the news being perceived negatively and profit-taking, a downward movement is possible within 1-3 days.