The Long Investor

$NIO TOP 20

We are seeing some resistance now at the 200 Day MA after overshooting this level yesterday after a very impressive flip from red to green.

I know I sound like a broken record here but believe me, structure beats parabolic moves every time

Squeezes are for fundamentally weak companies and bring a lot of volatility, we do not want that, $NIO is not a meme stock

A move down ot...

$HIMS

I was expecting the worst from the Stock offering but as vague as it was, it does not appear to have spooked the market right now

That being said, the price is only retesting the 200 Day MA from below here and also the 0.5 Fib

We would like to see this level converted to support and then we can say that the ABC correction is complete but if there is a rejection at this level then we...

$PYPL TOP 20

Lower low made today in spite of the positive news yesterday about $PYPL bolstering their partnership with $SHOP to allow them to be integrated on their platform for purchases.

This news was likely known and factored in leading to the rise in August

No changes to the chart either

The Subwave 4 which shows completed here on the 28th of August had been bothering me because its ...

$BABA TOP 20

$BABA got a slight breakout from the wedge today at $83.80 but right now the price is still under the wedge line, so we need to see a breakout and hold above this level.

$BABA getting included into the China-Hong Kong Stock Connect is the likely cause of the positive sentiment today
The Stock Connect Scheme was expanded in April to boost Hong Kongs status as a global financial status ...

$RKLB

$RKLB got a lot of attention last month when $ASTS took off as the market was looking for other companies in this sector

$RKLB then pulled back and people went quiet here but the chart has not changed and the price has tested the 0.5 Fib at $5.79 and bouncing but needs to hold this level and get back above the blue line at $6.15

Losing $5.79 would infringe on Wave 1 so this would da...

$DKNG

$DKNG has broken above its 50 Day MA, after testing its 0.38 Fib on the pull back, which tells me that this was in Subwave 4 on the pull back and in Subwave 5 now, since it has broken above its 50 Day MA and made a higher high.

The obvious level for Subwave 5 to complete is the 200 Day MA at $39, so this is what I would be watching for

Moving in an impulse wave is all bulls and hold...

$DAL

Second test of the 200 Day MA now over the last 3 day sessions

Impressive bounce today but the elephant in the room is that is there is an impeding downturn in the economy, the concern is that cyclical stocks are likely going to take a hit, so let's be fully convinced here before entering, so I would like to see the 200 Day MA flipped to support first before reentering.

I have added...

$PFE

Wedge breakout today above $29, which is also the 50 Day MA too, so once this confluence level was broke, the share price took off

As always and with no exception, if you are not in already you should be looking for the retest before adding if you don't have a position already

Members have been adding since the first wedge breakout in July, when the price broke above the 50 and 200 ...

$NIO TOP 20

The weekend chart update covered us nicely for the price action today

Price dropped -5% at the open but is now up +8% now and testing its 200 Day MA which we spoke about yesterday.

We want $NIO to continue following what we expect so we can take advantage

Ideally we want to see a pull back now for the 0.38 Fib at $4.77

I am happy that we've had a strong bounce but I do n...

$PYPL TOP 20

Market jumped at the open and raised all boats together and there is a small fade now as we approach lunch time

$PYPL is also retesting its ascending wedge which it broke down from on Friday, ideally we'd like to see a rejection at this level at $70 to pull back further to our white fib support levels to encourage us to add here

The 50 Day MA is a lot lower in between the 0.5 - 0.6...

$NVDA

$NVDA is back up to test its 0.618 Fib from below at $106, this will be an important level for the bulls to recapture to stop the bleeding.

A rejection at this level and the price action continues within the wedge, price did go as low as $100 on Friday so this is a psychological support level.

A second retest of this level and holding will give more confidence to the bulls too and g...

$PLTR TOP 20

Bouncing +10% now at the opening
This is not somewhere I chase, plenty of people are right now as the price tests the top trend line.

I would rather add on the retest of the channel IF it breaks out than chase here

That being said, I am keeping with my weekend brief on $PLTR.

$CRWD

$CRWD is respecting the Fib levels here,rejecting at the 0.38 Fib at the red line at $281, on the same day as the 50 and 200 Day MA complete a death cross, price has pulled back to the 0.5 Fib now at $245.

The set up does not look good here right now and we can see that the red line was also the Wave 4 support level, so right now it has been flipped to a resistance line

Losing the $...

$BIDU

$BIDU is still in its descending wedge and back down to retest the bottom trend line again, which it has done 7 times since April 2023.

$BIDU is finding it difficult to catch a reversal catalyst, in spite of its strong fundamentals, not missing on earnings since 2015 and having enough equity to buy its entire company back off the market if it wanted to

For these reasons I am stickin...

$DELL

News dropped on Friday that $DELL will be added to the S&P 500 this month along with $PLTR so it is enjoying a bounce in the PM now

We have been monitoring this closely and I have a position

$DELL was showing relative strength over the last month compared to $NVDA, $AMD and $SMCI so it is likely that important buyers knew this announced would be made

That being said, the p...

$ETH

$ETH pulled back for a second test of the blue support line and the larger White 0.618 Fib at $2100+ last week, along with the market sell off

It has found support for a second time and has bounced but we need to see some strength now and start to see higher highs and higher lows next to say that the pull back is complete

I do like how it has found support on the standard 0.618 Fib ...

SILVER - SAFE - HAVEN -

Silver continues to hold above its 0.618 Fib, after it came back for a second retest of this level after testing its 50 Day MA

Right now, the price is holding and also between the 50 and 200 Day MA, so staying within this range is not an issue and the 200 Day MA can protect the price action from making a lower low.

I think Silver is still waiting for the market to take its direction...

$SPY TOP 20

I have decided to add a list of economic data events for the week ahead in my weekend review, so I will add this to the $SPY or $QQQ chart, depending on its relevance, this week I have added it to the $QQQ chart so please review this chart along with $SPY.

$SPY has been slowly pulling back and giving back a lot of its gains from the August bounce but right now it is nothing more than a st...

$QQQ TOP 20

$QQQ chart was shared on Friday, so we know how heavily linked its movement is with $NVDA as they are both moving in sync now.

However, the 200 Day MA has moved very close to the 0.618 Fib here, making this an important confluence level and it goes without saying that the $QQQ needs to hold its 200 Day MA or we are into correction territory confirmed

And if we thought having NFP fig...

$V TOP 20

$V is still showing relative strength against the market and fundamentally it should be regarded as a safe haven but because it is so heavily linked to consumer spending, it is still a cyclical stock so it can't be regarded as a safe haven for me.....that being said, its product along with Mastercard have such a large share of this market that they will be difficult to beat and will continue to...

$TSLA TOP 20

$TSLA had a very tricky week for trader, the price had initially broken out of the wedge and above the 50 Day MA at $220 but on the retest of the level, it fell very strong, catching a lot of traders out who jumped the gun too early and did not wait for the retest.

It goes without saying how I feel about the importance of waiting for a retest and confirming a support level, it is one of t...

$SHOP TOP 20

Our patience is being rewarded here

Price lost the 200 Day MA and once there was a retest of this level from below and rejected, the price dropped harsh and down to the 50 Day MA and on the 0.38 Fib at $66

I would still like to see a further drop to the trend line, just above the 0.5 Fib around $64

If $PLTR runs from here then we can allocate more into $SHOP, as $SHOP is anoth...

$SE TOP 20

$SE still appears to be in a world by itself and moving well, making higher highs and higher lows

I have added in the green fib levels to show where support can come and we can see that the 0.618 Fib aligns with the horizontal green line at $66, which is an important support level

A hold at this level could help $SE move higher to complete Wave 3 at $88.

$PLTR TOP 20

All eyes will be on $PLTR on Monday as the market digests the S&P inclusion information.

It will likely be a good day for $PLTR but I remain skeptical here and I am struggling to see how $PLTR will move against the market at least in the short term

I think a lot of Mega Caps will get a relief bounce shortly for Wave B, so I believe $PLTR will do the same but ultimately, there is...

$NKE TOP 20

$NKE is in the category of pulling back in a controlled manner and like I shared on X, pulling back below $77 and adding then you will have a better average than Bill Ackman when he added in the last quarter, we don't know if he added in this quarter too but we'll assume he did

The 50 Day MA is moving down to the 0.618 Fib now too, making this a confluence level, so this is an area of int...

$NIO TOP 20

$NIO had a week to remember and is currently up +33% for the month, a very different story compared to the US market right now.

We have been waiting for a long time for a breakout of the channel and to get above the 50 Day MA and when it happened, it exploded higher.

Price went straight through the extended green Fib levels for Wave 3 and it looks like the price action will either t...

$MSFT TOP 20

Last week we spoke about our concern for $MSFT as it was looking like it would lose its 200 Day MA as the other Mega Caps were not looking as weak, this week we saw a clear loss of the 200 Day MA but the price action managed to finish the week on its 0.618 Fib at $401, so finished the week exactly on this support level

Bulls are fully aware of the significance of that support level.

$INTC TOP 20 - PART 2

Long Term chart, price is back to its 1997 levels and the blue line has a lot of support.

This is what an undervalued price with a margin of safety looks like.

$INTC TOP 20

$INTC sold off with the Semi sector and lost all of its momentum when they revealed that they are exploring options to split the company into different parts to free up value

They also revealed they will sell all of their position in $MBLY which is down to $11 now, a lot of the gains they had made here are likely dwindling greatly now too

Price is back to the 0.887 Fib at $18 now an...

$DIS TOP 20

We have a number of our Top 20 Charts pulling back in a controlled manner this week to the support levels we have waited a number of weeks for, $DIS, $NKE, $ABNB, $AMD, $SHOP being the popular ones

$DIS is still above its 0.618 Fib at $86 too, so as always, support is needed first before considering a position

We certainly can not rule out a continuous sell off next week and $DIS dr...