Reason: PLTR's squeeze read from last cycle has now resolved as flagged - RSI cooled from 69.3 to 54.2, 30D collapsed from +51.46% to +10.04%, and 1-year change actually fell to +11.65% with alpha worsening to -7 - confirmed as a short-window extension, not leadership. MRVL remains the long-horizon-confirmed leader and extended further - 1-year change now +248.75% (was +180.49%), alpha +230.1 - still a deep pullback (-32.23% off high) inside an intact uptrend. NVDA's regime was upgraded from basing to uptrend, 1-year alpha turning solidly positive at +15.54 (was a flat +1.04). AMZN weakened - 1-year change fell to +9.69% (was +15.04%), alpha worse at -8.96 - now the group's clearest laggard on the year.

Tape Read

$PLTR: price $174.33, RSI 54.2 (cooled sharply from 69.3 last cycle), death-crossed (confirmed, was flagged short-term only last cycle), trend up, regime pullback, thesis intact, 1D -4.49%, 7D -6.42% (was +3.52%), 30D +10.04% (collapsed from +51.46%), -15.99% off its 52-week high (worse than -10.23%) - 1-year change is now +11.65% (down from +17.82%) and 1-year alpha -7 (worse than -2.06): the squeeze flagged last cycle has fully unwound. $MRVL remains the long-horizon-confirmed leader: price $223.55, RSI 51.1, golden-cross, trend strong-up, regime pullback, thesis unrated, 1D +7.05%, -32.23% off its high (improved from -34.33%) - 1-year change +248.75% (up further from +180.49%), 47.3% above its 200-day average (vs 200-day, up from 45.7%), 1-year alpha +230.1 (up from +160.61): a deep pullback inside a genuinely intact uptrend, still extending. $NVDA: price $230.36, RSI 60.4, golden-cross, trend strong-up, regime uptrend (upgraded from basing), thesis intact, 1D +0.84%, -2.61% off its high, 1-year change +34.2% (up from +20.91%), vs 200-day +17.1% (up from +11.1%), 1-year alpha +15.54 (up from a flat +1.04): now confirmed leadership, not just market-matching. $TSM: price $428.91, RSI 56.8, golden-cross, regime pullback, thesis unrated, 1D +2.85%, -10.46% off its high, 1-year change +82.35% (up from +75.23%), 1-year alpha +63.7 (up from +55.36) - deep pullback in an intact trend, strengthening. $ARM: price $252.09, RSI 48, golden-cross, trend weak-down, regime pullback, thesis intact-but-priced, 1D +3.92%, -44.31% off its high (improved from -47.19%), 1-year change +86.07% (up from +67.7%), 1-year alpha +67.42 (up from +47.82) - still the weakest structure on distance-to-high in the group despite the long-horizon strength. $AMZN: price $258.51, RSI 49.5, golden-cross, trend strong-up, regime uptrend, thesis intact, 1D -0.15%, 30D -5.19% (down sharply from +17.55%), -9.99% off its high, 1-year change +9.69% (down from +15.04%), 1-year alpha -8.96 (worse than -4.83) - has weakened this cycle and is now the group's clearest year-over-year laggard. NVDA/TSM/MRVL/ARM's gains today rode the day's broad semiconductor rally; PLTR's drop is consistent with the day's software-cohort weakness - both attributed to the day's broad tape, no ticker-specific news pulled beyond the sector move. Source: full-scan pre-computed summaries as of the 2026-09-04 close — ai-infra.

• $PLTR — PASS (confirmed): squeeze read fully resolved - RSI cooled to 54.2, 30D collapsed to +10.04%, 1-year change fell to +11.65%, alpha worse at -7.
• $MRVL — PROMOTE: 1-year change +248.75% (extended further), 1-year alpha +230.1, still -32.23% off its high - deep pullback, intact.
• $NVDA — PROMOTE-adjacent WATCH: regime upgraded to uptrend, 1-year alpha turned solidly positive at +15.54 (was flat).
• $TSM — WATCH: 1-year change +82.35%, alpha +63.7 - deep pullback, strengthening.
• $ARM — WATCH: 1-year change +86.07%, but still -44.31% off its high - weakest structure in the group.
• $AMZN — WATCH/caution: 1-year change fell to +9.69%, alpha -8.96 - the group's clearest laggard on the year.

Lead pick: $MRVL remains the clearest long-horizon leader in the basket and extended further this cycle (1-year change now +248.75%, alpha +230.1) while still trading -32.23% off its high — a deep pullback inside a genuinely intact uptrend. $PLTR is this cycle's resolved call: last cycle's "short-window squeeze, not confirmed leadership" read has fully played out — RSI, 30D, 1-year change, and alpha all cooled or worsened.

Sources

• Tape data (price/RSI/SMA/returns/1-year change/1-year alpha): full-scan pre-computed summaries as of the 2026-09-04 close — ai-infra.