The Long Investor

HSI

Like $AMD, we also have a double test of the 0.618 Fib on the HSI chart too

Price pulled back to the larger white 0.618 Fib in August and held, when the market flushed on the 5th of August around the world

Followed by a bounce and another pull back again, testing and so far holding on the smaller green Fib 0.618 fib level.

Most importantly, is that this current 0.618 Fib is al...

$AMD TOP 20

Nice bounce with $NVDA yesterday, away from its 0.618 Fib at $137

This is now showing us a double bounce on the larger amber 0.618 Fib at $120 and the green pull back smaller 0.618 Fib at $137 now.

Very happy to see this as this is the two standard levels to pull back and hold

Making two higher lows now.

Price is exactly at the 50 Day MA now in the PM at $150 and the 200...

$HIMS

Jumping from $13.50 to $15.50 since the 6th of Sept has been a very welcomed development

We had prepared ourselves for a flush down to the 0.618 Fib at $11.50 as the worst case scenario, which would still be the standard pull back level for an ABC correction

But the confluence level around $14.22 has proved to be like a magnet and quite strong, pulling the price above all levels now...

$CHTR - WATCHLIST -

I brought $CHTR to your attention back in May because I noticed a trend in the superinvestors filings, a lot of them invested heavily here over the last year or so, which has gone largely unnoticed by the retail investor

Price bounced from $272 to $387 and now we are getting the pull back

Price is back to the 0.5 Fib which is also the 200 Day MA so again, watching for a hold of supp...

$NKE TOP 20

$NKE is exactly in the sweet spot now that we spoke about in the weekends commentary

Holding at the 50 Day MA and in between the 0.5 - 0.618 Fib levels between $77 and $76 now

Now we observe to see if this can hold and if there is a series of higher highs and higher lows next.

Remember, this is in the Buyzone now and the price is now lower than where Bill Ackman was adding in ...

$LYFT - WATCHLIST -

$LYFT like Aston Martin is getting very tight in its wedge now and close to the breakout level, which is at $12.70 right now.

This wedge has formed over 4 years now and $LYFT is also on the cusp of turning a profit

What intrigues me so much about $LYFT is that they are clearly an attractive company for $TSLA or $GOOG to buy to integrate into their Robotaxi ambitions.

With a ...

$NIO TOP 20

Buyers have certainly been stepping in and i'll just stop myself short of saying this is a parabolic move now for one reason......if we zoom out to the weekly chart, we can see that the 50 WMA is very clear here and this is looking like where the bulls are sending this to for a test, which is at $5.84 now.

I have moved the white fib levels to show where the 0.38 Fib and 0.5 Fib can go to ...

$VICI - WATCHLIST -

Pulling back now as the market has decided that a 0.25% Rate Cut next week may be more suitable than a 0.5% Rate Cut and for this reason $VICI has its catalyst to pull back for Wave 4, after Wave 3 went slightly extended beyond the standard Wave 3 1.618 Fib level

$31.65 is the level to watch for me and we can see the 50 Day MA is moving up to this level

A retest of the channel break...

$VIX

$VIX is up +10% now is above the channel, the 50 and 200 Day MA's now after the CPI data came in as expected.

Market has the last piece of data to confirm that a Rate Cut is happening now

There is very little need to keep the interest rates as high as they are with inflation comfortably below 3% now.....the Fed does not want to make inflation or deflation a bigger issue now

Hi...

$SPY TOP 20

$SPY and $QQQ are out of sync right now, the $QQQ has already pulled back to its green 0.618 Fib, mimicking that of $NVDA and the $SPY has only pulled back short of its 0.5 Fib

We can see today that the $SPY tested its 50 Day MA from below and so far has rejected at this level

So if a lower low is made below $539 then the $SPY can pull back to the 0.618 Fib at $531, in line with the...

$CCL - RC -

$CCL is fighting to stay in its ascending triangle and below its 50 and 200 Day MA, if the bulls can get back into this triangle at $16.50 then another test of the top line at $20 is possible.

Failure to do this and we could be looking at a consolidation sideways between $20 and $11 until the market is happy that economy is beyond the worst of things.

$HIMS - WATCHLIST -

Continues to show strength, $NOVO reported more positive results from its weight-loss program today and $HIMS looks to be benefiting from this information too

Price is back above the 0.5 Fib and 200 Day MA, so just the yellow trend line to convert now to support at $14.80

So we want a breakout and retest of this level and you have your buy signal.

$ORCL

A beast of a company and a beast of a chart.

Continues to push higher to our Wave 3 target in spite of the majority of all other Mega Caps really struggling at the moment and nowhere near making 52 Week highs

This is why we must take each chart on its own merit

Wave 3 target at the 1.618 Fib at $168 is locked in.

$ZM - RC -

Very nice and controlled pull back from $ZM in spite of a very strong bounce post earnings from $55 to $73

Price is just at its wedge top line again for a retest which is also the 0.38 Fib at $65

Only 1 wave in this pull back so a bounce (subwave B) followed by a further pull back to the 0.5 Fib at $63 makes the most sense right now

But holders here should be happy so far with...

$NVDA

I think if $NVDA continues to hold above 0.618 at $106 then the 50 Day MA will be tested next at $118 and $AMD should move higher too.

$AMD's 50 Day MA is at $151, so if both companies flip their 50 Day MAs back to support then this is a positive move for the bulls

$AMD's set up for me is still more attractive right now, as it already gave us a full ABC correction down to the standa...

$IOT - RC -

$IOT has been keeping strictly within this channel since late 2022 and after 3 years of strong earnings the price action has reflected this performance

Price is just at the top of the channel now at $48, a break above this level and $57 is next to complete Wave 3 at the 1.618 Fib

A pull back beforehand between $42-$40 is possible before breaking out.

$QQQ TOP 20

$QQQ managed to hold support exactly on the 0.618 Fib on Friday and has bounced now

In all scenarios, $QQQ can still bounce back up to the wedge line and the 50 Day MA at $473

If CPI comes in line with estimates today then I think the market will get a relief bounce

Price also held above the 200 Day MA on Friday too

I think a retest of the wedge and 50 Day MA is suitabl...

SILVER - SAFE HAVEN -

Silver has been holding in between the 50 Day MA and the smaller 0.618 Fib at $27 and now forming a tightening wedge too

Banking stocks sold off yesterday after $ALLY warned that some customers are feeling the pressure of job losses and inflation and are falling behind on their payments.....with a bleak guide that things could get worse....$JPM sold off very aggressively yesterday too, po...

$TMF - SAFE HAVEN -

Holders of $TLT and $TMF should be licking their lips right now with how this is moving and its current set up

Broke out of its triangle and has now made a higher high and the US 10 YR continues to make lower lows.

Next level to watch will be $67.85, which is the top of Wave 1 from December 2023

A break and hold above this level and we can confirm Wave 3.

Hold $TLT and $...

$TGT

Still a lower low today so support is not confirmed yet

We are certainly in the sweet spot range between the 0.5 - 0.618 Fib levels and the 50 Day MA is here too, which was tested today too

So we are looking for a hold of support here now and would have no issue with a test of the 0.618 Fib at $146 either....but this level would need to hold for me or there will be weakness.

<...

$AMD TOP 20

$AMD is giving us a clean bounce on the 0.618 Fib now after holding in between the 0.618 Fib and 0.78 Fib

$NVDA is also holding at its 0.618 Fib too on its pull back so both are moving in sync

We have one bounce so far, so we want to see a series of higher highs and higher lows next, so I will update this regularly this week as we observe this.

$ALLY

$ALLY gave an alarming call today to the market, where they said they are 'clearly seeing customers struggling from inflation and jobs slowdown'

Price is down -18% right now

We can see that resistance came in between the 0.78 - 0.618 Amber Fib levels, which is Wave B for me

And believe that $ALLY will pull back to complete Wave C between the 0.618 - 0.78 Green Fib levels

$JPM

Very little has changed to this chart, I have Wave 5 at the $215 level and it appears that a local top has come in at $225

A long list of negative news came out in the banking sector today including:

• Capital increases could be lower than expected

• CPI data this week

• Goldman has said that bond and currency trading is down -10% this quarter

  2024-09-10 16:31:22 +0000 UTC View Post

$AFRM

How many times have we seen this happen, where there is a breakout from a wedge, triangle or resistance line and we think the price is gone and we have missed it.....only for the price to do what it always does and pull back

I look at 1000's of charts each month to know that it happens 95% of the time and for this reason I will never chase

$AFRM has pulled back from $45 to $36 now ...

$EL

$EL has nearly completed its full cycle, price is itching closer to its 2017 low at our blue line at $76

$EL needs to show strength before considering buying here, I think that the $76 level needs to hold and then consolidate sideways for some time to bring back confidence here

I would not be rushing into $EL right now, even at $76

I would much prefer $NKE, $DIS, SBUX and ev...

$ENVX - RC -

$ENVX manufacturers lithium-ion batteries and was seen as a very high potential growth stock in 2021 but has struggled to take off when the EV sector started to sell off in late 2021

$ENVX has also consolidated in this long descending wedge since mid 2022 too

Price is testing the blue line at $7.47 now and a test of the bottom trend line is still possible next

I think if the E...

$ENPH - RC -

$ENPH has been consolidating for the entire length of 2024 so far between $138 and $94

My Wave C target remains at the top blue line at $340 but it goes without saying that a breakout and hold above $138 will need to trigger this movement and when this will happen is uncertain as this consolidation could continue while the energy stocks perform poorly.....likely down to the US elections....

$SOFI

$SOFI may be taking the crown from $NIO as a frustrating stock to own after the current movements.

$SOFI showed a lot of prospects this month when it bounced out of the wedge and above the 50 and 200 Day MA

And when a US Judge temporarily blocked Bidens latest student loan relief plan this week, this triggered a sell off for $SOFI

The price is back into the wedge after rejecti...

US 10 YEAR

US10YR has made a lower low now since its August 5th low and this continues to follow our trajectory downward and $TLT and $TMF continue to move inversely proportional to this movement

US 10 YR continues to look very bearish and $TLT continues to look bullish

A very simple concept used here to make our safe havens work for us.

$TMF is up another +2% today too.

$AMZN TOP 20

$AMZN has formed a triangle here since the middle of August and has used the 200 Day MA as a support level and the 0.38 Fib

We can see that the 50 Day MA has been lurking from above as a potential resistance line too

So right now the price is getting squeezed in between the 50 and 200 Day MA, we want to see a break to the upside here from this and at the very least go to our Wave B ...