The Long Investor

$ORCL - EARNINGS JUST RELEASED -

Up +9% in the PM now after reporting, although it was a double miss just slightly, they have announced that they have signed new Cloud deals with OpenAi and Google. This is clearly positive news and the market loves the combination of these companies working together.

Not a single change to the chart, price is now accelerating up our Wave 3 to the 1.618 Fib as standard at $167.

Cong...

$ENPH - WATCHLIST -

Continues moving well after retesting the 20 Day MA and found support and looks set to continue higher to the triangle breakout level at $139.50.

A flip of this level to support and bulls have the green light to move higher to go to the 1.618 Fib at $202.

This should be on your watchlist.

$ENVX

$ENVX has not been uploaded in some time but it is worth looking at again as it has regained its blue support line and has bounced strong. Price is also back above the 50 and 200 Day MA and trending in a positive direction towards our Wave Z target at $25.

If we can get a pull back in a standard manner shortly, then I can add a count to follow this higher and an entry point.

$NIO TOP 20

How many times have we seen $NIO pull back and struggle to find support on the pull back, its been the story for the last 3 years.

Like I said, losing the 0.618 Fib is showing weakness and there is certainly weakness now, next potential support level is the 0.78 Fib at $4.13, losing this level and Bulls have lost it, they are not stepping in.

The decline in the PM now is likely down...

$AFRM - WATCHLIST -

This was information I revealed a number of months ago that $AFRM was partnering with $AAPL to offer loans but we had no idea when this information would be revealed, we got this announcement yesterday at the $AAPL AI Day....$AAPL has made it very easy to apply for a loan through their App supported by $AFRM.

Very big win for $AFRM and the share price jumped 11% yesterday.

We can se...

$IQ

$IQ has pulled backed now to the 0.618 Fib which happens to be exactly at the wedge breakout trend line.

This is where $IQ needs to hold support and bounce from here.

Falling back into the wedge will not be a good sign, the impulse wave isn't invalid but it is not a good sign losing this strong confluence level.

Fundamentals remain strong with $IQ too, so it is in a position t...

$ETH

These Fib levels are being highly respected by $ETH which is great for us to see.

Price action went within $40 of the 0.5 Fib yesterday after we spoke about this level earlier in the week and has so far found support, we need to see more price action to determine that support is now confirmed.

A second test would help or a bounce from here in a series of higher highs and higher lows...

SILVER

Price action is holding above the 0.5 Fib in this pull back and still in this bullish flag and above its 50 Day MA.

I was asked yesterday what the significance of the $30 level was, this was the 2021 high, its highest level since 2013, so flipping this level to support would be a statement that the trend has changed to bullish.

No change to our chart and we are waiting for support t...

$AAPL TOP 20

The market enjoyed $AAPL's AI Day and their partnership reveal with Open Ai, they also added a feature where you could take a loan out with $AAPL through $AFRM, which accounts for $AFRMs strong day yesterday.

We have eliminated the the Bear Case corrective wave as the price shot up +7%, adding $180 Billion Market Cap in one day, an astonishing job.

Price has made a new ATH and we ca...

$MRNA

$MRNA received positive news yesterday that their Flu & Covid Jab met their late stage study goal and they look set to be ready for market before the Flu Season in 2025, this is likely the reason for a strong run for $MRNA since May.

Price action is still holding very well above the Wave 4 support on the 0.38 Fib at $137 and also on the smaller support levels, which make this a higher...

$LRCX - WATCHLIST -

I want to bring your attention back to this chart again.

We have been following this chart for over 14 months now and it has not put a foot wrong and I expect it to take another leg up to complete Wave 3 at the 1.618 Fib over the next 6-12 months to $1280.

If you have bought when we first charted this last year, you would be up over 150% now too, so current holders should continue t...

IAG - LSE -

This is not insider knowledge because it is all over the media in Ireland but my company, who is under the umbrella of IAG, is about to be informed of Industrial Action by its Pilots from tomorrow.

The pilots are overwhelming voting for strike, which will take place over a number of days throughout the summer, its busiest period.

I suspect the market will not appreciate this news 2024-06-11 12:58:32 +0000 UTC View Post

$AMD TOP 20

In spite of Morgan Stanley playing games yesterday, the red day made no difference on the structure and still looks comfortable above the 0.5 Fib and inside the bullish wedge.

I do want to see the $165 level flipped to support for more security and this would be a hold of a crucial support line, outside of the wedge and above the 50 Day MA.

Morgan Stanley giving a bearish comment me...

$DKNG - WATCHLIST -

$DKNG has hit our Wave C level on the 0.38 Fib now after losing its 200 Day MA and bounced perfectly on the 0.38 level at $34

If the price action can recapture the 200 Day MA and it is doing a good job so far, then the corrective wave could be complete.

If I am happy there is support above this level, I will add in the next impulse wave.

The Euro 2024 starts on Friday which wi...

$CELH

$CELH had a weak day yesterday and sunk another -9% and has followed our ABC correction very well, in spite of it looking like Wave C would not happen but we kept to our projection.

Price hit exactly on the 200 Day MA yesterday and found support at $65.

A new low has also been made too, so technically the ABC correction could be compete here.

$CELH is down -34% now in a month...

$SOFI

$SOFI is now testing its wedge breakout level and we can see that the 50 Day MA is also here too and sticking its own head through this breakout level

This is a very important level at $7.15, a breakout here and flipping this level to support would be very bullish for $SOFI and I would expect a move back up to the blue line at $8.24 next, where the real battle again takes place.

If ...

$HIMS

Does $HIMS have the legs to run all the way to the 2 Fib at $24.92?....yes it is possible and the pull back we got in May was Wave 4, in spite of it being extremely short and unorthodox but for me, I am sticking with my projection here on the chart that we get a pull back for a proper structured Wave 4 before going higher to complete Wave 5.

If this does happen, I think Wave 5 could go ev...

$SHOP TOP 20

$SHOP has been a beacon lately and performing very well and looks set to continue today, with a positive start in the PM.

I do not expect any pull back until a test of the 50 or 200 Day MA, the 50 Day is at $66.60 and the 200 Day is at $68.50.

In November, there was enormous strength behind the bounce and the price did not pull back there but continued a very strong move all the way...

$NIO TOP 20

$NIO traded between a tight range yesterday but managed to lose the 50 Day MA support and did not quite make it down as low as the 0.618 Fib yet at $4.54, this can still be expected to test and I have no concerns with this but going below this level and as always, this shows us weakness.....it is not a catastrophe but the selling pressure is starting to add on and bulls will need to come out sw...

$BTC TOP 20

Back below the $69k level again after a double top at $71k and another failure to stay above the important 69k blue line, this makes it 5 attempts to stay above the $69k level since Feb and all have failed, which is why I still believe the ABC correction needs to complete first.

This is a reasonable expectation and I have A only at the 0.38 Fib, standard pull backs go a lot lower than thi...

HSI

Under pressure today as the market waits for the US CPI print and lost the 0.38 Fib as support, this happened on the 31st of May too but was recaptured the next day, so we will watch for how the market reacts to this.

I am not overly concerned however, the 0.5 Fib and the 50 Day MA are at the same level at 17,887, making this a confluence level

However a lot will come down to the CP...

$ETH

This is going to plan here.

We saw the drop below the 0.236 Fib on Friday, followed by a bounce back up to the 0.236 Fib from below, this was met by a clean rejection at the $3714 line and the price dropped further on this confirmation.

This is what we wanted to see yesterday, so I am happy with how this is moving, the above chart is the 1hr chart so we could see the rejection clear...

$ETH

Watching as $ETH tests the 0.236 Fib now at $3714, I would like to see a rejection here so we can get a flush down to the lower fibs, preferably the 0.5 Fib at $3422, where the 50 Day MA is, a hold here and I will add again, for my last add.

$SHOP TOP 20

So this is why we have completed 3 Buys of $SHOP now, with the last buy on Friday.

• RSI Bullish trend

• MACD Bullish trend

• Held on the 0.5 Fib

• Held on the yellow trend line

• Pulled back in 3 waves.

• I have also highlighted the previous hold on the yellow trend line (white circle) and we can see how $SHOP reacted...

  2024-06-10 15:56:44 +0000 UTC View Post

$DAL

$DAL has found support on the 50 Day MA 6 times now since the 29th of May, this is also above an important trend line and the 1 Fib at $48.

As long as $DAL stays in this structure and moving in this strict manner, there is no need to do anything with your position and continue to hold until the 1.618 Fib at $56.

We can see that $JBLU and $LUV are firm favourites with activists at th...

$MRNA

$MRNA has pulled back and so far has held on the 0.618 Fib at $145, so we are watching to see if this is Subwave 2 of Wave 5 now, failure to continue holding and Wave 4 is not complete yet and we will be watching for a test of the 0.38 Fib again at $137.

The 50 Day MA is also moving up now to offer support to the price action, so the price may still need to test the 0.38 Fib again to wait...

$BKNG

$BKNG is looking good here to make its next move higher, its previous higher was at $3918, so a break and hold above this level and we can expect the price action to continue higher to the 1.618 fib for Wave 3 at $4227.

$BKNG has been solid as a rock here and is already up over 120% since its Oct '22 low.

$BMBL - WATCHLIST -

$BMBL has come within $0.09c of the 0.618 Fib today for this pull back, if I can see a hold here then I will consider starting a position.

The move since breaking out of the small wedge has been great and the pull back has been standard.

No concerns here, so when a pull back and hold comes, we have our buy signal, ideally on the $10.82 level, going below this level will show weaknes...

$SPY - Thoughts.

Total Market Cap is now at $55.1 Trillion

Last time this happened was in November 2021, which was met by 1 year aggressive decline.

Earnings have not improved since the 2021 level either but Revenue has increased slightly.

So we are not quite at the top yet but it is getting very close.

When the market is in Wave 5, you start preparing by adding safe havens.

$CURE - WATCHLIST -

Remember I do not have this ETF in my brokerage account so you will not be getting a Buy Alert about this but that does not mean I do not like this set up, in fact I am a big fan of it and everything about this set up is bullish right now.

Break above the large wedge

The pull back to the 0.5 Fib at $101 that we were waiting for

A hold and bounce on the 200 Day MA

Forming...