The Long Investor

$SPY TOP 20

Remember the brief remains the same here, we have been preparing for this and we knew that a retest of the 50 Day MA was a possibility, it has been lost again today, last week this happened too but it was regained almost immediately, let's see if the earnings out later can help it regain.....or accelerate the sell off.

$QQQ is looking substantially worse that the $SPY right now, brought o...

SILVER

Silver is green today after the market is showing a lot of weakness as we lead into one of the most important earning report days.

So far we are seeing support above the 0.5 Fib at $27 and but we still can not rule out a test of the the 200 Day MA at $26 now on the 0.618 Fib, I am not going to lie, I would love to add to my position at $26 before it moves higher.

Silver is a positio...

$JBLU

Up +22% now post earnings and there is no changes to the chart.

How good is the 0.618 Fib at confirming a pull back support level?....it is fantastic!

Once $JBLU can get above the green line at $7.50, it can move to the top blue line at $9.44

$NIO TOP 20

$NIO still in this strict channel and above its June low but the trend is down to this level again on the 0.78 Fib at $4.13.

It goes without saying that we don't want a lower low to come in but there is very little that can be done if bulls do not step in and hold support levels, missed earnings in June is likely not helping either.

I have not bought $NIO in months and don't intend...

$PLTR TOP 20

$PLTR is moving with the market and it is uncertain but moving exactly as we have planned.

Rejecting at the 20 Day MA and I still expect another test of the 0.38 Fib and/or the 0.5 Fib where the 50 Day MA is at right now at $25.10

No buy yet, let's sit on our hands and wait for the pull back, earnings is not until next week.

$TSLA TOP 20

$TSLA bulls are still holding onto the important support level throughout this week, big test will be after the earning reports are out later and on Thursday.

But remember, $TSLA has not been following the $SPY, $QQQ or the other Mega Caps, it is nowhere near its ATH level and has not lost its 50 or 200 Day MA.

They can not be compared right now

If $TSLA can hold above $231, i...

$HIMS

Continues to hold well and make higher highs and higher lows, while staying above its 50 Day MA too and 0.38 Fib at $21.44

The market seems optimistic leading into their earnings release next Monday.

Since their last earnings, they have been selling GLP products which will likely improve on their earnings.

I continue to hold and I am happy with my position.

$PG - EARNINGS JUST RELEASED - WATCHLIST

$PG is down -5.5% now post earnings after SLIGHTLY missing on revenue

I am absolutely not believing this decline at all

The price has now dropped exactly to the 200 Day MA which is also the ascending triangle breakout level at $159.

A hold here and you have a perfect retest and a buy signal.

Dividend of 2.3% here too.

I think this should be watched closely.

$DAL

I have been monitoring $DAL very closely in the background and continue to be impressed with how it has been holding on the 200 Day MA at $42.

I have assessed the chart and my one concern is the size of subwave 4, it is short compared to subwave 2 but it is likely a triangle, if this is the case then Wave 5 peaked at $53 and this pull back now is a small ABC correction.

It has also...

$NVDA

Back at its 0.236 Fib level again at $108 after testing this level last week and bouncing, making a lower low here will confirm the downtrend.

The $QQQ will struggle to test its 50 Day MA if $NVDA continues in this manner, as it will likely keep bringing down $AMD and $SMCI, also other semi related companies

$NVDA needs to hold above its previous low now.

$AMZN TOP 20

Is looking like it can make another attempt at its 50 Day MA now, for a second attempt from below.

Price is currently at $187.10, below the blue line now at $188.

A rejection here again and the bears have got it, recapturing this level on the second attempt and Wave 5 is still on at $210.

$AMZN report their earnings on Thursday after the close.

$IONQ - RC -

$IONQ has broken out of this descending wedge and managed to hold support on the 0.78 Fib at $7.

Price has bounced well and pulling back now as we lead into earnings next week on the 7th of Aug

I have provisionally added in an impulse wave if the price can hold this level now leading to earnings, a lower low than June would invalidate this impulse wave, so it needs a positive earnin...

$AI

$AI is still in this triangle since the middle of 2023 but keeping strict within the formation of it.

Price constantly rotates around the 50 and 200 Day MA, interlooping both too.

$AI does not have strong fundamentals but that being said, they are an AI company that help other companies utilise AI to help grow their own companies, effectively helps integrate AI.....which I believe i...

$PFE - EARNINGS JUST RELEASED

$PFE, along with $PYPL and $SOFI have all released this morning and they have all beaten on both lines of their reports, happy to see as they are three popular stocks in our group.

Ok what is the chart telling us:

• First of all, we have a Golden Cross now

• Wave 2 in July held on the 0.618 Fib, beautiful and standard.

• Impulse wave was then added an...

  2024-07-30 12:20:11 +0000 UTC View Post

$SOFI

$SOFI has just released their report and it is a double beat and I am not seeing much concerns with it. Particularly impressed with how fast they are growing their members over the last 2 years too.

PM movement is not showing much love just yet and this is likely due to the 200 Day MA resistance level at $7.60.

Price needs to get above this level or we get another retest of the 0.5 ...

$PYPL TOP 20

Before we start to run away with ourselves and believe this is the reversal for $PYPL, lets look at what the chart is saying:

• Price action jumped to $71 straight after the last earnings, it was not a beat but there was progress made, up until that point, there was a leading edge impulse wave 1 made.

• After that earnings, price pulled back in 3 waves and found support...

  2024-07-30 11:59:06 +0000 UTC View Post

$CL - SAFE HAVEN -

$CL was one of the first Safe Havens we uploaded in March to this group (attached) price was at the breakout level at $86, First Target is at $100 and the price has hit that today.

A very strong and steady looking chart here and another Safe haven, like $BTI, the healthcare sector, Silver and Gold doing its job very well.

Second target remains at $114 but I would expect a pull back ...

$BTC TOP 20

Still early to confirm but $BTC has struggled today at the $69k level, a resistance we are very familiar with talking about.

We spoke on Friday about being in Wave 5 and may need a smaller pull back before breaking out above the $69k level, so I have added in the green Fib levels to show where this pull back can come to and we can see that they surround the 50 and 200 Day MA......a sight...

$TGT

Things went a little messy from $TGT last week but it was certainly not alone, impulse wave has been updated but there has been no breakdown with the structure as the 200 Day MA has come to the rescue here again, as it did in June and July.

Price needs to hold at this 200 Day MA confluence level with the 0.618 Fib at $145

The invalidation level with be going under the June low at $1...

$SMCI

$SMCI is at the very interesting spot right now.

Semis have sold off over the last 2 weeks and are relatively flat today but we can see here on the $SMCI chart that there was a large flush down on Thursday which came close to the 200 Day MA and the 0.5 Fib and has held so far while the market reassess its position leading into more important earnings releases.

If the Mega Caps beat ...

$IWM

$IWM is back to test the triangle breakout level at $221 as both the $SPY and $QQQ is showing some mid day weakness now....as we lead into important earnings tomorrow.

My expectation remains the same here that a retest of the 0.38 Fib again at $215 is possible before going higher.

If the price action is able to hold the $221 retest then I do not think $215 will happen at a later sta...

$OXY - Recommended reading Book.

Testing its descending wedge breakout level now at $59, which is in between the 0.618 Fib and 0.78 Fib.

$OXY announced today that they are selling $970million worth of assets in order to reduce debt but are in the process of making a sizeable acquisition in another energy stock shortly, this move is hallmark Buffett and I suspect he is guiding the board on its direction in order to achiev...

$SQ - REPORTS EARNINGS ON THURS - 1st AUG

$SQ has moved to in between the 0.5 Fib and 0.618 Fib as it leads into earnings week, they report on Thursday with some Mega Caps too, which is looking like an important day for this earnings season

After Thursday is complete, the majority of Mega Caps would have reported and if the market can survive its level after this event, then it can move higher.....but any weak reports will likely...

$TSLA TOP 20 - LONG TERM PROJECTION -

This is the weekly chart so it is slightly different to what we covered yesterday but the impulse long term projection has not changed.

We can see the importance of the price level at $231 right now, the 200 MA on the weekly chart and the wedge break out level meet at this exact point

We can also see that the 50 MA on the weekly chart managed to hold for support last week too.

$BABA TOP 20

$BABA starts the week off strong after it decided to increase the merchants fees:

Alibaba will start charging a 0.6% service fee on confirmed transactions for vendors on the Tmall and Taobao platforms, per Bloomberg.

Price action has now jumped above the red resistance line , the 50 Day MA and outside the wedge now.

In order to stay out of this wedge, we need $B...

$CURE - WATCHLIST -

I need to bring this chart back to your attention.

It is looking strong and bullish here and has now broken out of this wedge and retested the $121 level and bouncing now.

I am bullish on the healthcare sector and this is a 3 X Leveraged position, so know the risks associated with this.

That being said, there is a clear route to the blue line at $149 here in the short term.......

$CELH

Some early signs that the selling pressure has eased here and the price action is back above the yellow support line now in the PM but the big test coming up will be recapturing the $50 level on the 0.618 Fib, this is not a buy for me until $50 can be converted to support.

The risk of the price rejecting at $50 and moving down to the 0.618 Fib at $38 still exist.

The very obvious co...

$MCD - EARNINGS JUST RELEASED -

$MCD has just reported and it is a double miss....the concerns continue for $MCD and there are no changes to our chart.

We can see ironically that the price action has formed its own GOLDEN ARCHES since the middle of 2022 and looks set to complete at the red line at $230, so not a buy right now but once support is found, this could be attractive.

They also have a 2.65% dividend.

$SOLUSD

Solanas set up here is slightly better than $BTC's because it has cleanly broken out of this triangle now and a retest of the breakout level should bring the price back to the 0.5 - 0.618 green fibs for a retest and higher support level, where we can also see the 50 Day MA moving up to this level too.

A hold between these fib levels is bullish and the target would be $266 at the top blue ...

$ADA

I added $ADA recently to highlight that in terms of risk v reward, the set up here is strong and if the crypto positions starting moving together and there is signs that they will shortly, then $ADA is worth having a position in, even if it is small.

Price is just holding on the 50 Day MA now and I have added in the impulse wave count, holding above the 0.618 Fib at $0.37 is bullish for m...