digital_precision

digital_precision

In case you have been living under a rock lately, the markets have tanked. Since you're reading this now, I am assuming we don't have many rock-dwellers here. Anyhow, this recent tantrum by Mr. Market probably has quite a few people guessing where to expect the slide to stop. Well, I present to you the power of Pivot Points! This is a wonderful feature here on...

digital_precision

Okay, folks. It's bad out there. Yesterday's selloff in QQQ was particularly bad and it carried with full force well past the close, which is not normal. So it's pretty evident to anyone who's not drinking the bullish koolaid that we're in severe correction or worse. So the question then becomes.... what the hell do we do now? Well, first, we need more data. ...

digital_precision Updated 

Here we have 15m bars on QQQ, looking specifically at the last 4 market days. Specifically, the close. Why the close, you ask? Because there's an adage floating around that states "Amateurs open the market...... pros close it". Is it true? Perhaps. If you believe the second half to be true... the "pros close it" part, then I implore you to take a look at...

digital_precision Updated 

IWM (russell 2k ETF) has been stuck in a ranging rectangle consolidation pattern for like a year. Everyone can see it, it's definitely no secret. This is why I think the last bull spike above resistance failed and was sold off; it trapped a lot of people who assumed it was an upward breakout. Anyhow, this simple mockup just adds more bad juju, as you can see...

digital_precision Updated 

This a chart comparing apples to oranges, essentially. One is MGK, a megacap ETF and the other is an equal weighted ETF based on the entire S&P500. The Nasdaq is getting bitchslapped today and this is the reason - it's very top heavy because of the organizational weighting of the index itself. I'm not entirely sure what this has in store but it's worth watching...

digital_precision Updated 

TICK indicator. I use this intraday usually to give me an up-to-the-second sentiment indicator. It shows the stocks trading on an uptick vs a downtick. This chart is just to put today's intraday reversal sell-off into perspective. I had to use the 15m bars to scale out far enough to find the last time the TICK 20 period moving average for 15m increments...

digital_precision

How bad is it out there this week for the big boys in the financial sector? How have they held up during earnings? Well, let's look. Goldman Sachs? BOOM! 9 months of progress gone in less than a week. Next. PNC? Ka-pow! Looks like we've been pumped....and dumped..! U.S. Bancorp? (USB) SPLAT! Murdered! More pump-age, more dump-age! Truist...

digital_precision Updated 

Last 3 weeks PLTR has moved lockstep with QQQ. So, in my opinion, the macro condition of the market is putting too much downward selling pressure on PLTR and other growth companies for them to buck the trend. With that being said, PLTR is nearing another zone where the bleeding may stop, and that's the calculated bottom from the latest descending triangle. It's...

digital_precision Updated 

Here is a chart of the entire IWM ranging behavior over the past like 9-10 months. You can clearly see the resistance and support lines. The top resistance line also coincides with the R1 monthly pivot resistance line. Below is the OBV with the same ranging behavior over the same time span. Obviously, volume should confirm price.....and up until recently it...

digital_precision

I like GLD. At least right now I do. A rather symmetrical triangle has formed, and normally that implies continuation. That's why I have zoomed way out to the weekly (and even monthly) bars to see the past trend which it is supposed to be continuing. If you look on a long time frame the last leg down looks very much like a bull flag correction and it's...

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I'm scouring planet Tradingview to look for bullish signs. Let me tell you, it hasn't been easy. So I wandered out of the country to see if the rest of the world is doing as poorly as our domestic markets in the U.S. appear to be. Alas, I present you with ILF, the iShares Latin America 40. It's been getting bombed out for 9 months now, and according to the...

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Seems the initial valuation was off, eh? Way off. Well, we're at the 50% discount point now. That's right, it's a blue light special. As you can see we have support via three methods - conventional support at the lows of prior waves, a descending wedge, and it's at the S1 support line of the Pivot points. So I am taking a flyer here. Mostly because I am...

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Okay, I'm screwing with you. I don't even know what that phrase means. Anyhow... PLTR is at a crossroads, and the narrowing Bollinger bands confirm this. You can see the current setup has happened before according to the boxes. It's almost identical. The blue arrows show the points recently where the bands narrowed, volume/volatility dropped, and was...

digital_precision Updated 

I've been a fan of this thing since I read a book by Palantir (and Paypal) founder Peter Thiel called "Zero To One". He's one of the "Paypal mafia" that have gone on to become mega millionaires and/or billionaires. Elon Musk is in this club, as is Marc Andreesen, etc. These guys have all gone on to be extremely successful, to say the least. They've started...

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I've been waiting a long ass time for this thing to bottom, and it looks like it finally has. Both the daily and weekly look good, and it's above it's 50 SMA. The chart divergences illustrated also are positive. This is a very safe stock with very low volatility, high dividends, and an upside price of $90 if the market doesn't turn belly up. Even if it does,...

digital_precision Updated 

The past 3 days in particular have been quite divergent among the big four indexes. The past month the only spot I can see where this happened was on Nov 3rd, and it quickly ironed itself out within a day. This one is at 3 days and counting. Healthy markets shouldn't have sustained divergences like this. A day here or there, fine, but this one is worth...

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Not a big deal for investors, but traders should watch this gap where the rectangle is. In this instance it's a .5% gap on the IWM 30m bars showing where price may travel through with very little resistance. If you're a trader this is very important to know. Sometimes gaps are in plain sight such as this, but other times support and resistance zones can be...

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Weekly bars here. Pretty perfect triangle if Ive ever seen one. Watch for a breakout either way very soon, as these normally only make it to like the 80% point of the triangle before going through one of the two trend lines.