digital_precision

digital_precision Updated 

Im blasting this out there premarket to all of you on Tradingview, but I already did so yesterday prior to close to the people I directly advise. Market bottomed on Oct 13th, 2022, but most of the big money trend following systems couldn't have possibly sniped it at that point. Rather, they'd have waited until Jan 26th, 2023, when price crossed up over the...

digital_precision Updated 

Here's my take on IWM, the ETF that tracks the Russell2000. As you can see, I ultimately see IWM falling all the way to around $165. That's about 16% below where we are now and 12% below our lowest point of last week. I believe the market tailwinds produced by the earnings of market powerhouses Google, Apple, Microsoft, and Amazon will quickly subside and the...

digital_precision Updated 

I have the pivot points set here to yearly, not auto, so they are calculated on a yearly basis. This is rather long term. I only have S1 level on for clarity. As you can see, QQQ bounced cleanly on S1 nearly 2 years ago during the march 2020 covid bottom. Today we've seen some very strange behavior indicating a possible bottom. By this I mean it gapped WAY...

digital_precision Updated 

I've been following this development for months and the day of reckoning is almost upon us. That day is the dreaded breaking of a Head and Shoulders neckline. This is the most well known of all technical analysis patterns and if (when) that neckline is broken it gives us a rather clear target where to begin looking for the fall to stop, as the height of the H&S...

digital_precision Updated 

BTC is indeed correlated to QQQ... if the Nasdaq falls, so will Bitcoin. Check the original March 2020 covid crash for proof. So do you believe QQQ will do well? Then you can at least have a chance at making money long BTC. With that being said, there are enormous red flags in this chart... starting with the complete lack of volume at this point. Volume is...

digital_precision Updated 

Long term chart here, logarithmically scaled to account for the long time span. As you can see, it's at the top of the channel and after the horrific week it just had I think that's the catalyst for a trip back down in the channel. It just broke below the 50 SMA. Top of channel + 20% down week + 50 SMA breach + macro market headwinds = down.

digital_precision

Ask any PLTR shareholder what bothered them most in 2021 and almost all of them will yell in unison - "SHARES BASED COMPENSATION!" They have a right to be upset. Nearly a billion extra shares hit the public float as company execs effectively flooded the market with them for pretty much the entire year. I can't necessarily blame them, as they were likely options...

digital_precision Updated 

Mr. Market is happy today! So what am I doing? Searching for short opportunities, of course. XLV fits the bill. As you can see, there's a rather significant On Balance Volume divergence with price. This is often a leading indicator signifying a potential price reversal. I'm going to wait just a bit for it to get below the red support line but then jump right...

digital_precision Updated 

XLRE is the Real Estate ETF. I'm a residential builder and my wife is a realtor, so I have my finger on the pulse of this ETF and XHB in particular. I can tell you for certain it's toppling over the edge in the real world... and the head and shoulders chart pattern here confirms it's doing the same in market-land. Mortgage rates spiraling at a rate not seen in...

digital_precision

The whole market is going to get a boost from now until probably the 25th when the Fed minutes from the last meeting come in and make everyone crap themselves again. I think Palantir closes that gap along the way. Top of the gap is the goal, that's it. Then I'm out.

digital_precision Updated 

Most people are aware of the fact options expire the 3rd friday of every month, but perhaps you've not noticed how charts respond to this. Quite bearishly, it would seem. It's quite consistent with only a couple months not conforming. This time period also is usually associated with volume spikes. We are at one of those points. Tomorrow is the 3rd friday of the...

digital_precision Updated 

Who loves cruises? Me! Who loves money? Me! Such a dilemma. Still, the evidence is all over - Carnival is a terrible investment. Don't believe me? Goto Finviz.com and look up the financials on this thing. They only survived the pandemic by taking on a lot more debt, and very expensive debt at that. The technical aspects of the chart are bad.....and the...

digital_precision Updated 

I have a list here on Tradingview I call the "Trash Bin". Today I noticed my trash bin is lighting up green for some reason. Names such as these are up in an otherwise crap day, especially the megacaps. Anyhow... if these dumpster fires finally stop falling it could mark a powerful turnaround. All these are green today, which is unbelievably rare. AFRM ARKK (I...

digital_precision Updated 

Unfortunately I don't have a horse in this race. Yet. By next week that'll likely change as tesla is balancing on a razor's edge at the moment. The Volume Flow Indicator and the MACD both show clear divergences, and not the good kind. It's no wonder it's fallen as of late - both of these were stating that it would. The quarterly S1 line is a big support zone. ...

digital_precision Updated 

The turning point I am eluding to is the 200DMA. QQQ fell through it like a rock, but has since ricocheted back up to it. So now what happens? Mr. Market hasn't made up his mind yet, as you can see from the hesitation. In technical analysis it's a well known fact that support routinely becomes resistance, and vice versa. Is that what we have here? Notice...

digital_precision Updated 

I found this pretty interesting, as I didn't think there'd be any trend line at all when the idea to chart the 10 Year bond yield long term popped into my skull. Well, I'll be damned! It's all purty-like! I'm a CMT, not an economist, so I don't know if this holds any validity whatsoever... but 2.5% by around June 2023 sounds plausible. If nothing else, I think...

digital_precision Updated 

I meant to publish this last night and wow did I mess up in not doing so, because as of this second it's up like 14% today. Still, I think there's more room to run but I couldn't blame you for waiting for a down day like *ahem* TOMORROW. In fact, do that, wait until tomorrow. If I could somehow save this write up and auto-post it after tomorrow I would because...

digital_precision Updated 

I'm full on bearish. Why? I just went to the grocery store and dropped $400. I filled up my diesel truck at $5 a gallon. Russia is attacking nuclear power plants. The 30 year mortgage rate has climbed nearly 1% in the last month. The Fed is going to raise short term rates, perhaps aggressively so. So to celebrate this generally awful outlook I'm going to post...