digital_precision

digital_precision

We had what, like a 2.5% gap up, something like that? In two hours it was closed! I can't wait to see what happens next, because it'll be a direct insight into just how much weight algorithms/traders put into gap fills. I'm guessing it jumps back up. Not to 2.5%, but I think we close over a point up. Then again, no one knows anything right about now.

digital_precision

I present for you four stocks over the last month. They are Palantir, Snowflake, Splunk, and Alteryx. I am writing this because it's en vogue the last 24 hours to pile on Palantir......and why not? Mr. Market has provides them with a first class ass whooping! But this isn't the whole story and some people aren't taking the time to step back and look at the...

digital_precision Updated 

I love me some Palantir. Seriously. But it's becoming rather obvious there are far more people who disagree with me than agree with me. The charts show this clearly. As you can see on the latest bearish pattern (there are no shortage of these for PLTR, by the way) that there is a rather clear ascending triangle pattern. This is to be considered a continuation...

digital_precision Updated 

I am not a currency guy. I'm not even that wise when it comes to worldly macroeconomics, so please don't take my word for anything. With that being said, it looks that QQQ is currently strongly inversely correlated to DXY, the U.S. Dollar index. Historically this has always been the case, more or less, but I wanted to bring it to other's attention. Do you...

digital_precision

Upset your gold is falling? Upset your silver is tanking? Blame the US Dollar?! There are obviously a lot of other forces at play here, but methinks that so long as the US dollar continues to plow upward these two commodities may continue to suffer. Plan accordingly.

digital_precision

Okay, in celebration of today's huge up day I am selling GME. Well, I would never own this thing so I can't really sell my own inventory so I'll borrow someone else's! It's been a bad stock fundamentally for a while, but that didn't stop Reddit or whomever from pumping it up to astronomical levels. Obviously it's retreated significantly and I think it has...

digital_precision Updated 

Anyone been to the grocery store lately? Filled up your car with gas? Bought electrical wire at Home Depot? Tried to buy a house? Have you noticed anything? "Transitory" inflation is chomping through all the liquidity infused into the world the last two years. Printing dollar bills doesn't create wealth - it dilutes it. We printed how many trillions of dollars...

digital_precision Updated 

I've been watching Paypal's long slide downwards for what seems like forever. Well, I am calling a bottom, and I am doing it just prior to today's earnings announcement after close. Here is PYPL on the weekly bars, and here are the reasons for my stance: 1) Double top pattern established. From the height of this pattern we can make a reasonable estimate of the...

digital_precision Updated 

This analysis is based simply on the pattern and the RSI. RSI says oversold, pattern indicates clearly it's at/near the bottom of the trend and will rebound back upwards. Will it make it to the top trend line? Probably not. I'd bail well before that. This is a short term play with a tight stop loss outside of the lower trend line.

digital_precision

I have numerous posts about PLTR. It's like a pet project of mine because I view it as a true boom or bust company. With that being said, look at the MACD trend that PLTR hasn't broken since it went public. This is probably the ULTIMATE test for PLTR. If it breaks this trend, buy the hell out of this thing. If it doesn't? Well, assume yet another bear flag. ...

digital_precision Updated 

25% is insane for a company to fall in one day on ANOTHER company's news. Holy wow. Call it the "Facebook Effect", and it may be responsible for destroying the market like a cancer.

digital_precision Updated 

Today's strong start to the day got me thinking about the potential for the grandaddy of them all - the head and shoulders top. We're "due" for a bear flag of some magnitude so it's not unreasonable to think today could be the start of a rebound. With that being said, it may still be sold off entirely in the last 2 hours of the day. Bears are growling, after...

digital_precision Updated 

Last quarter market pillar AAPL missed sales for the first time in years and Mr. Market busted out his paddle and spanked 'em good. Like 3.5% beatdown. This doesn't seem like that big of deal until you realize Apple is a market onto itself with a ~$3 trillion market cap. I actually just accidentally typed billion instead of trillion, you know, like most other...

digital_precision Updated 

The black lines are equidistant from each other. If the rally falters here... it's likely that we may be looking at a true top or at least a short term one.

digital_precision Updated 

I wanted to get this out there quickly, as I think it's going to bounce fast up. Money FLow index bigtime divergence on 30m bars. Tight stop just under $18 at like $17.80, because there is a descending triangle that has also formed on a longer timeframe and it's a very bearish and it scares me. Tight stops to protect yourself. This is either the bottom or the...

digital_precision Updated 

Visa is a great stock, but everything points towards a near term drop. 1) At R1 resistance line (not pictured) with Standard Pivot Points enabled 2) Rising Wedge pattern - bearish 3) Resistance area provided by gap (see rectangle ) where no buying volume at all. It was solidly rejected yesterday intraday from this point. You can see the inverted hammer candle it...

digital_precision Updated 

Here we have the weekly bars. It clearly shows that TSM has quite a lot of fat on it's bones as evidenced by the 200MA. Normally, I'd give this pattern a pretty good chance at forming a cup and handle, but I think the market is intent on breaking that handle right the hell off. It's reasonable to expect it to retrace down to either the MA or more likely just to...

digital_precision

This chart is pretty self explanatory and after some review it seems quite satiating. It puts this past week into proper historical perspective and shows that no, the world isn't coming to an end. In fact, so far it looks quite normal in a regression to the mean model. As you can see, all markets are constantly trying to find equilibrium and when one side or the...