The Long Investor

$ETH

$ETH continues to hold on the 0.5 Fib at $2800 and staying within this bullish descending wedge.

It may take some time to breakout of this wedge but what I am watching here is the movement of the 200 Day MA which is moving into the apex of the wedge now and towards the 0.5 Fib at $2800.

So if the price action can meet the 200 Day MA in this wedge I believe it can offer support and W...

$XPEV

$XPEV is up 16% today after joining the Chinese party.

Remarkably after holding on its blue all time low line above $6 and now at $9.50

$XPEV like $NIO is also above its 50 Day MA but will need to break out of this extremely long wedge line, which has been in place since 2020 and its ATH line at $75.

A break above this line at $10 and $XPEV will need to convert this level to a...

$BKNG

Also report after the close today and those who have been around long enough will know how much I love $BKNG and still kick myself that I did not add it to the Top 20 list from the beginning.

I expect the share price to continue its drift up to the Wave 3 target at the 1.618 Fib at $4227 and any negative report today will only delay this climb up over the short term.

If we are lucky...

$COIN

$COIN also reports earnings after the close today too.

Very straight forward here, a bad earnings and the price sinks to the 0.38 Fib at $186.

A positive report and I expect a bounce but it will likely still be Wave B bouncing and reject next to complete Wave C, in line with $BTC's ABC correction.

$SQ

Something is not sitting well here with $SQ's movement right before their earnings are due out today after the close

Yesterday a whistleblower claimed that $SQ carried out alleged compliance malpractices and the share price sunk, right down to the 200 Day MA.....the decline was in line with $BTC declining so it did not concern me at the time but a report like this just before earnings see...

$AAPL TOP 20

$AAPL reports their earnings later after the close and I think the majority of the negative sentiment surrounding their growth and sales have been baked into the price now.

The price is still below its 50 and 200 Day MA and within the downward channel.

I believe it is due a Wave B bounce next and it may have started already after holding the Wave 4 low on the red line at $65.

$KWEB - WATCHLIST -

HSI, $BABA, $BIDU and $KWEB all have very similar setups right here as they break out of their wedges and channels.

And when we look at the big picture here, this pull back from $KWEB has been nothing but standard....emotions aside, the chart has done exactly what has been expected from it

The pull back since the high at the start of 2023 went down to the 0.618 Fib and held, only lo...

$MRNA - WATCHLIST -

As Adam rightly highlighted in the chat group, $MRNA got the breakout and is having a strong day and still up +6%.

Chart here has been textbook:

• Wave 2 pulled back to the 0.618 Fib

• Broke above the 50 and 200 Day MA and retested them next

• Formed as ascending triangle which is a bullish formation

• Broke out at the blue line at $115 a...

  2024-05-02 15:34:21 +0000 UTC View Post

$QQQ TOP 20

Interesting to see how the 20 Day MA was the resistance level here this week, the price action was not able to make it up to its 50 Day MA yet, further identifying the weakness in the Tech sector, likely lead my $NVDA, $AMD and $SMCI's influence.

I would be watching for a decline to the previous all time high line next at $408 at our blue line, I will confirm Wave A is in effect if this h...

$DAL

Ok I nibbled a small bit again here and added to my position again, $DAL is doing everything I have asked of it and continues to move against the market move higher as the market understands that this is undervalued both technically and fundamentally.

The 1.618 Fib at $56 is my target for Wave and this has not changed.

$DAL has been very consistent and when it retest the green line ...

$PINS

No changes to the $PINS chart which I uploaded at the start of Feb and have attached here.

The pull back for Wave 4 completed on the 200 Day MA and after a stellar earnings report yesterday, the price jumped 21% yesterday.

Earnings were a strong double beat and EPS beat by 48%.

A retest of the blue line at $36 would be a good position to add to catch the rest of Wave 5. 2024-05-02 09:57:17 +0000 UTC View Post

$BABA TOP 20

$BABA's PM move brings the price right up to the red line which we know is a resistance level, as this level was tested 4 times since December and rejected each time before ultimately going lower into the buy zone.

A break above $77.70 and holding will be a significant development for $BABA and our signal to add to our position.

I believe once this level is held, there will be no is...

$SMCI - IMPORTANT NOTE -

Charts mainly move up and down due to human psychology in the short term, impulse waves move aggressively and parabolically as the masses chase the popular sector and the newest hype but likewise, when a chart runs 300-400% which is incredibly impressive over a very short period, like what happened here.....then there will ALWAYS be profit taking....people want to lock in their gains. The menta...

$YINN

Up a whopping +9% in the PM now and like I said a number of times now, I have been incredibly impressed with how well this has been moving.

We can see that the PM move brings this right to the 200 Day MA.

So far the moving averages have offered little resistance towards the Chinese stocks we have been following, so this is a very good sign for $YINN.

Blue line at $30 is still ...

$NIO TOP 20

$NIO is flying again in the PM now and if it can reach $7 soon, this will be a 100% jump since its low in mid April and on the wedge trend line.

As we just saw on the HSI chart, the price action cut through the 200 Day MA with ease, likewise $NIO has cut through its 50 Day MA with little resistance too.

I have the blue lines here to show where there was previous support, which used ...

HSI

HSI has given us a very clean and convincing break out here, first out of the channel, followed by a channel retest and hold on the 50 Day MA and 0.5 Fib.

Since then there has been a very aggressive bounce in this Wave 3 and cut through the 200 Day MA as tho it was not there....this is a convincing breakout and looks promising to move higher to our Wave 3 target at the 1.618 Fib

Rem...

$BIDU - WATCHLIST -

HSI is now outperforming the $SPY now for the first time in 2024 and our Chinese ADRs are moving quite bullish now.

$BIDU is a position I am in and we have our breakout of the wedge now and a test of the 0.618 Fib at $107.

The plan remains the same here, a hold above this level and I will add to my position.

It is worth seeing the bigger picture here for $BIDU if this is the s...

$CVS - RC -

$CVS is getting destroyed today and down -17% right now. $WBA its biggest competitor has also been in a downward trend for the last 3 years too.

The sector looked like finding its feet towards the end of 2023 but one bad earnings underlines the delicacy of this sector and the reaction was not friendly.

The price is managing to hold on the yellow historical trend line which has been ...

$PYPL TOP 20

$PYPL had a rollercoaster day yesterday, hitting our Wave 5 target and pulled back almost instantly and has so far pulled back to the 0.38 Fib, which is also the 50 and 200 Day MA on the 1hr chart, so I expect Wave A to complete here and bounce for Wave B next.

As long as I see $PYPL behave in this manner, then I am not concerned.

Moving in an impulse trend is all we ask.

$SPY TOP 20

Powell is still talking right now and is neither dovish or hawkish, he's keeping the message balanced and the market is taking this opportunity to bounce after a difficult day yesterday.

We can see a head and shoulders pattern forming here on the 1hr chart, a retest of the trend line again at $508 we will be watching for.

The 50 Day MA is still at $511

$PLTR TOP 20

$PLTR is holding in between the 0.38 Fib and the 0.618 Fibs and we can see that the 50 Day MA and the 200 Day MA is protecting each of these levels too

As these moving averages move closer to each other, a direction will need to be taken and I expect this to happen as we get closer to earnings call next week.

The report will likely be the catalyst too

A retest of the 200 Day M...

$SBUX

$SBUX needed to take a direction as it moved tighter into the wedge and their earnings miss decided their faith.

Clean breakdown from this wedge now and approaching the blue line next at $68, a break below this line and it has made a new 3 year low and goes into the the Buy Zone.

No rush to buy here, support needs to come first and this may need a few earnings reports to recover co...

$ABNB TOP 20

Sometimes you need to trust your gut on decisions and getting out of $ABNB was one of them, it is still above $155 right now which the bulls have defended very well but we are back to $156 again now after weakness in the market.

The 50 Day MA has also been lost here too which is not a good indication.

If $ABNB pulls back to the 200 Day MA at $142, I would consider a position again.<...

$NVDA

$NVDA having a difficult time right now and back below its 50 Day MA with the market, in spite of breaking back above it yesterday

$AMD's modest earnings has impacted the sector and $NVDA is not looking particularly strong right now after losing the 50 Day MA test.

$NVDA and $MSFT declining hard will be enough for me to confirm the market is in Wave A

For $MSFT, this appears t...

$BABA TOP 20

Staying on the outside of this wedge and appears there is a retest of the wedge line underway now from above, the 50 Day MA is moving out to this trend line too, so this may be used a retest level.

Any confirmation of a hold here and I will add to my position to catch the rest of Wave 3 higher.

Right now the 50 Day MA is at $73.50

$CAT

No changes to our chart here, which we have been following for the last 12 months and moving perfectly along our projection.

Wave 3 completed at the 1.618 Fib and now pulling back for what we believe to be Wave 4.

The 200 Day MA is also moving up to the Wave 4 level now too at $308.

$CAT is an incredibly well run company with a good moat and great margins. FWD PE of 14 right n...

US 10 YR

US 10 YR continues to drift up in this channel and testing higher Fib levels, the higher this moves, the more pressure is on the Fed....I believe a breakout above the 0.78 Fib would be incredibly difficult for the market to handle, as a test of the previous high above 5% would almost be inevitable.

So if this happens, we could see capitulation in the market, so I am watching this closely....

$NFLX

$NFLX continues to follow the fate of many of the Mega Caps now and is moving down with $META in a similar move post earnings.

I believe there is still another leg down to complete Wave A, which could complete close to the 200 Day MA, this is likely to be confirmed once the 0.236 Fib is lost.

Remember $NFLX also had a great earnings but the market is pulling back for a multitude of ...

$BTC TOP 20

$BTC has been brilliant for us, Wave A is confirmed for me now so we are just waiting for it to complete, which is looking set at the 200 Day MA at the 0.38 Fib at $51k, there has been excessive selling lately which will soon put this in an oversold state and Wave B will follow next.

I think if support is confirmed at $51k, DCA'ing a position here for the next few months would make sense,...

$MSFT TOP 20

1hr and Daily chart added here to see the full story.

$388 is a very important level for the bulls to defend today, there was excessive selling into the close yesterday and I alerted that if a new lower low was made by $MSFT, this would almost certainly trigger further selling across the market, as this was a harsh rejection at the 50 Day MA and the trend would be confirmed to the downsid...