The Long Investor

$BTC TOP 20

I think overall, the group are disappointed that $BTC and $ETH could not move against the flow of the US market and its more in line as a market asset class and not a safe haven but saying that, the group are seeing the a pull back further is likely a very good opportunity and $BTC will return to ATH's in the future

We have been looking at this chart since March, we knew that $69k was a d...

$BABA TOP 20

$BABA did not get involved in this weeks US market carnage, it continued to move sideways in this wedge weathering the storm, which we spoke about in last weekends update.

No changes to the chart and we can see that China continue to address measures to help foreign direct investment return to China

I would like to see more aggressive action from the policy makers, the US would take...

$AMZN TOP 20

$AMZN is not in the same situation as $GOOG right now, where $GOOG has lost its 200 Day and made a lower low below the 5th of August sell off level but we are watching to see if $AMZN can hold above its 0.618 Fib at $163

I still believe that $AMZN is in Wave B, as this bounce from early August is neither complete nor enough for me to assume that Wave B is finished now

I am not consi...

$ABNB TOP 20

$ABNB I was very close to pulling the trigger and buying here over the last few weeks but we never got the higher high that we were waiting for so we did not get the green light to add

The price is still at the 0.618 Fib but it is struggling now slightly this week but did not sell off to the same extent as the market

I am still keen to add here but I will continue to wait

Pric...

$AAPL TOP 20

I think $APPL is still showing relative strength compared to the other Mega Caps, it is still at its 50 Day MA and has only tested its 0.38 Fib on this pull back and is moving in line with the $SPY and not the $QQQ

This is likely down to the $AAPL launch day for the Iphone 16 in the next week or so

This may be a positive or negative, the price is clearly holding well until then but ...

$AMD TOP 20

$AMD finished the week just slightly below its green 0.618 Fib for this pull back, so there is weakness here but we need to give the price a chance to recapture this level, like a test of confirmation, one move is not enough normally

Price finished at $134, right back to the level we had bought at the start of August ($135) to catch the August euphoric run up to $162

Many believed $...

$GOOG TOP 20

I have been looking at the $GOOG chart today and wanted to upload it first before the remaining Top 20

It is the only Mega Cap that lost its 200 Day MA but also made a lower low below its 5th of August low

$MSFT lost its 200 Day MA but finished the week on its 0.618 fib, $AMZN is just below its 200 Day MA and even $NVDA held above its 0.78 Fib and did not make a lower low.

Wha...

$DELL

Just at its 0.5 Fib now at $102 exactly, still some more downside can be expected here too to the 0.618 Fib at $98

Only until this level is lost can we consider weakness

One week ago there was not a worry here as it stayed above its 200 Day MA and many questioned whether they would have the chance to add if a pull back would come at all

There is always a pull back.

$GOOG TOP 20

This is now causing some concern

$AMZN has retested its 200 Day MA today but has not lost it

$GOOG has certainly lost its 200 Day MA and retesting its important blue line at $155 and right now has lost it but there is still another 5 hours in this session to go.

We need to see a retest and rejection of the 200 Day MA for me to consider selling

Wave C is at $138, so it wo...

$PYPL TOP 20

Plan remains the same here too, Wave 5 got a higher high but did not hit the 1.618 Fib at $75, the market sell off was too strong

White Fib support levels were already on the chart so we have been expecting this pull back

No concerns here

I would like to see a healthy pull back at least to the 50 Day MA between the 0.5 - 0.618 Fib levels to get maximum benefit of this pull bac...

$SHOP TOP 20

I will be talking about $SHOP in more detail over the weekend review, so this is just a quick update

Pulling back very nice now, something we have waited for in the last month

50 Day MA looks like it will be tested today at $67, we still want this level to be lost and a further pull back

I hear no concerns about $SHOP in our group so I will assume we are all fully aware and ha...

$HIMS

Very strong sell off in the market now after the NFP reported slightly worse than expected and the difficult month of September continues

The sell off is happening in every sector across the market so not a lot is exempt unless it is a safe haven

I do not need to remind everyone that the standard ABC pull back level is the 0.618 Fib, so this is the next support level now I expect 2024-09-06 14:58:37 +0000 UTC View Post

$ETH - LONG TERM PROJECTION -

It is good to remind ourselves of the long term set up for $ETH

• Wave 1 topped at $4865

• Wave 2 held support on the 0.78 Fib at $1000

• Wave 3 then is always at the 1.618 Fib extension of Wave 1 and Wave 2 which is at $8811 and likely to be at least up to 18 months away from now, going by Wave 1's formation.

• The pull back now has already te...

  2024-09-06 12:58:00 +0000 UTC View Post

$SQQQ

$SQQQ is moving in a positive move, it is still early days and there is no higher high here yet, which is a must see here for me, if this was to happen, it would mean a break above the 200 Day MA at $11 too.

But the price has consolidated since July and has made a higher low and held support on the 0.887 Fib at $7.65

Will require most attention from us before getting into this posit...

$MBLY

For anyone who has bought into this, in spite of my calls to steer clear of this, I have added in potential support lines to help guide you out of this mess

$INTC has said that they are looking at reducing their entire position in $MBLY, they own 90% of this company

They are likely doing this to consolidate their own books and not directly linked to how bad $MBLY is, to be fair.

$SOXL

It is not looking great for this Bullish Semi ETF

0.618 Fib has been lost, which we know, any price below this support level is showing weakness.

Bulls still have until the August low at $23.55 to make a higher low but the trend is not in their favour as $NVDA continues to struggle and $SMCI is not helping either

$AMD and $DELL are holding better.

However, I think the $S...

$APP

A request for this chart again but there are no changes

We can see that the pull back in August hit exactly on the 200 Day MA, which was just below the 0.5 Fib for Wave 3 and has bounced to higher high and remains in our impulse count and in Wave 5 now

I still expect this to move higher and complete the Cup and Handle formation at $115.

$RDFN - RC -

$RDFN has consolidated between the bottom two lines since April 2022 and did not move higher with the overall market.

Since May this year, the price has been moving positively and in an impulse wave

Respecting Fib support levels, making higher highs and higher lows and using the moving averages as further support

Pull back right now is looking like Wave 4 for me, so will need...

$SOFI

The chart speaks for itself here

We know the significance of the blue line at $8.23.....the insiders of $SOFI know the significance of this line as they have been buying under this line for the last 2 years.

But the price is still struggling here and cleanly rejected at this level to start the month

$AFRM is pulling back too whereas $PYPL is showing relative strength

$SO...

TWEET

The only way to comfortably beat the market is buying the trend

And knowing when the trend has gone against you

- You accumulate at the end of Wave 2 and Wave 4

- You Trim at Wave 5

- You exit at Wave B. (Unless it is a Core stock, where I reduce to 50% typically)

When the market is in Wave 5, you allocate to Safe Havens, Bonds, Commodities, Defensive, Dividend...

HSI

Pull back is sitting on the 0.5 Fib now at the 50 Day MA, I am looking at this as Subwave 2 of Wave 3, so Subwave 2's are expected to go to the 0.618 Fib which we have seen a lot of lately, across all sectors and securities.

The 200 Day MA is sitting just above the 0.618 Fib at 17,165 right now, I would not be surprised to see a test of this level tomorrow, especially if the US market has...

$TMF - SAFE HAVEN -

A reminder that $TMF is a 3 X leveraged bullish $TLT.

Price again is up in the PM as the market and the 10 Year are deep red this morning.

This has been a fantastic safe haven and the chart is clear.

Price is at the August high now in the PM too, so a break above this level at $62.36, further confirms the trend, we would then have a higher high and higher now.

You are st...

US 10 YEAR

The US10YR continues its clear bearish decline and is very close to making a lower low below its 5th of August low at 3.66%

As we know and I have a lesson on this in Collections, when the US 10 Year drops, $TLT rises, they are inversely related to each other

So we have been able to successfully use the 10 Yr to make money by buying a very solid Safe Haven in Bonds and the $TMF which...

$NVDA

It was this day last month that triggered the sell off in US securities as payroll figures came in which were a lot weaker than expected and the market had concerns of a heavier than expected recession.

There were also calls for an emergency Rate Cut to be announced, this never happened and the market recovered for the rest of the month of August

However, it has dipped substantially...

$FUTU - RC -

$FUTU came back to test its 0.618 Fib and 200 Day MA, both of which it is holding above right now but back into its wedge

$FUTU needs to break out of this wedge again and try and recapture the blue line at $72 to get back into the Bull Case

Impulse wave count remains the same with Wave 3 still at the 1.618 Fib at $94.

$COIN

Like I always say, if you can nail the $BTC chart, you get access to a number of other positions, like $COIN

Which is glued to the $BTC movement and testing its own 0.5 Fib now.....losing this level and the next test is the 0.618 Fib at $128.

I think $128 is reasonable place to add.

$BTC TOP 20

Bulls and Bears know exactly where they are right now

It is not a coincidence that there is some stalemate at the 0.618 Fib at $55,600

Losing this level and $51k is next and losing that level and $44k is next

If for some reason the Bulls can turn this around right now, the 1.618 Fib is at $80k and this can come over the next few months

I think for current holders, hold s...

$V TOP 20

$V has finally slowed down and where did it find resistance?

At the 1.618 Fib which would make this Subwave 3 and even more important, look at where the 0.38 Fib level is right now, at $271, which is the standard level for a Subwave 4 pullback

By the time the price pulls back to here, the 200 Day MA should be here too, waiting patiently.....as will we be.

$SPY TOP 20

$SPY is just below its 50 Day MA now as the market is still trying to find its feet after the harsh start to September

The price is only testing the 0.38 Fib now, so as of right now, this is only a standard subwave 4 pull back of Wave 5 and if the price can hold at this level, then it will have no problem making a new ATH next and reaching our Wave 5 target

BUT

If the 0.38 Fib...

$AMZN TOP 20

Very nice bounce on the 200 Day MA for $AMZN after back to back positive news and increased PT's coming out for $AMZN this week, analysts are doing their best here

Just the 50 Day MA to get above next at $182 and we should get a higher high in then, next big test will be the blue line at $188....a very important level.

Chart has not changed.