The Long Investor

$SOFI

Earnings out today before the market opens and it is a good opportunity to view the long term chart again.

Price is testing the 200 Day MA from below in the PM now so this has not broken out of this bullish flag yet, or above the 200 Day or the blue line which has been a strong resistance line for the last 12 months at $8.20.

A flip of this level to support and $SOFI could be back o...

$SE TOP 20

$SE continues to be in a world of its own and moving as it feels fit but most importantly, following our count.

$SE dropped heavily in July '23 and has since been undervalued and consolidated for 6 months until the end of 2024, so it was moving against the US market and has since jumped nearly 100%

The price is getting very close to our Wave 1 limit now at $67

Since the pull b...

$NIO TOP 20

$NIO is up over +20% now since bouncing on the bottom line of the wedge and since then the price has broken above the 20 Day MA which was also at the upper wedge limit.

The obvious test next would be the 50 Day MA just above at $5.

The price action did break above this moving average in December but on the retest the price did not hold so a break above $5 and retesting this moving ...

$SPY TOP 20

I think we are all aware of the plan now, I spoke at length about this on the $MSFT chart and just now on the $QQQ chart so please read both charts to get further comments on my thought process going into this week.

It is a big week with a serious test coming up, mixed with some big Mega Cap hitters reporting their earnings and the Fed deciding on whether to change the Interest Rates.

$QQQ TOP 20

On the $MSFT chart I said how heavily correlated the $QQQ, $SPY and $MSFT charts are and I have added in the red 0.618 Fib on each chart and this is a very important level, along with the 50 Day MA.

As you can see on the $QQQ above, I have also added this 0.618 red line in August '23 to show how the price action behaved then around the 50 Day MA and the 0.618 Fib, the price struggled to g...

$TSLA TOP 20

$TSLA has been on the good sign of earnings reports this season so far and the consensus is that the bad report was already baked into the share price, because their earnings report was not good across all metrics.

But the plan was that the price needed to hold $144 on the yellow trend line or pain would cloud over $TSLA all the way down to lower lows below $102.

So far bulls have d...

$PYPL TOP 20

$PYPL also has its earnings on Tuesday and this time it is before the market opens which is a change of approach.....difficult to take what this means but certainly more volatility before the market I think as people may be triggered at the opening if the report is bad....but if its good, this would also trigger people to buy.....this is only my 2 cents on this, it is not a theory or a practice...

$PLTR TOP 20

$PLTR has so far held the 0.618 Fib for this Subwave 2 pull back of Wave 3.

Like I said last week, this was a wave 2 pull back so we always expect wave 2's to pull back between the 0.5 - 0.618 Fib, only wave 4's pull back to the 0.38 Fib as their standard pull back levels.

So $PLTR is behaving and respecting its Fib levels which it has done since the start of 2023.

So far ther...

$NKE TOP 20

$NKE Bulls and Bears are certainly aware of the significance of this yellow support/resistance line as the price continues to test from below now.

One rejection so far but there is nothing stopping the bulls testing again.

We highlighted last week how the bulls needed to hold above the red line and they protected it with their life, so far they are fighting but there is still a lot ...

$MSFT TOP 20

$MSFT is the Mega Cap this is most correlated to the $SPY and $QQQ right now.

Its chart is almost identical to the market

Which is a good sign because it gives us more insight into how this and the market may behave next.

Here and on the $SPY and $QQQ charts I have added in all the same indicator, I have added in a red 0.618 Fib line which is very close to each chart...

$INTC TOP 20

$INTC's earnings this week confirmed that it was struggling and missed on revenue. The market was not kind and the share price fell -10% while the other large Semi players managed to hold their structures and levels.

This was also a very large flush which is a common sign of capitulation which is usually found around leading to the bottom.....what is also interesting is that the price sto...

$GOOG TOP 20

My big apology commentary was added on Friday before the market opened and I think it is worthwhile to admit when a chart has completely stumped me....and that dividend and share buy back strategy is a technical analyst curve ball that can catch anyone out....as you can simply not factor this in because you have no prior knowledge or how much they will approve but a lesson for me to prepare for...

$F TOP 20

$F had its earnings this week and it was a mixed bag.

They beat on earnings by 14% but missed slightly on revenue by 0.36% but the market was kind on this slight miss.

Price managed to hold above the 50 Day MA and bounced above this level.

However still consolidating in this channel right now.

They also announced that they continue to lose $5 Billion on their EV vehicles...

$DIS TOP 20

$DIS continues to be a very well behaved chart and as easy to read as they come.

Also a clean test of the 50 Day MA this week which was also the 0.236 Fib and a clear rejection at this level, followed by a lower low

No need to spend much time briefing this, there has been no changes to my commentary

In Wave A now.

$COST TOP 20

$COST has tested its 50 Day MA from below twice now and both times it has been rejected to finish the week.

It continues to find support on the 0.236 Fib but a double rejection would not fill me with confidence, especially since we have this in Wave A already.

Not a buy for me right now and not undervalued now either at these levels.

$BTC TOP 20

I spoke about $BTC during the week and over the weekend and we observed the rejection and the 50 Day MA as a significant event and a possible insight to how the US market will behave this week but this is completely separate to the US market, it is just an observation.

I have also said that $BTC has only pulled back to the 0.236 Fib in this pull back so it is very short but consolidating ...

$BABA TOP 20

$BABA was covered on Friday because we got the wedge breakout, a wedge that has been in place since Jan 2023.

So this was a significant event.

As always we want to see a retest of the breakout level to solidify the level as a new support level, which is also a buy signal for us.

However, converting the red line at $77.50 will also do this for us too, so converting this level t...

$AMZN TOP 20

I wrote a detailed commentary on Friday on $AMZN because we needed to examine whether there was a possibility that this too could move like $GOOG and go higher again so please check that commentary out.

The big question is whether $AMZN buys back shares or starts a dividend or does both like $GOOG

Before this week there would have been no chat about this but $GOOG felt the need to g...

$AMD TOP 20

$AMD is one of the big ones we are watching this week on Tuesday, it finished the week strong and held on the 0.618 Fib. $NVDA also held well to end the week too.

$AMD has had a very strong pull back from $227 to $145 and our Wave 4 remains valid.

A strong earnings here and we could see a strong bounce and the 50 Day MA at $175 at the 0.38 Fib would be the target.

$AMD always ...

$ABNB TOP 20

$ABNB came very close to losing its $155 level during the week but managed to hold the level superbly and even finished the week bouncing on the 50 Day MA....so there appears to be some rotation into $ABNB as it leads up to earnings on the 8th of May.

I have added in the green line from the previous high at $170, a break above this level and holding is very bullish and confirms that our ...

$AAPL TOP 20

After $GOOG's enormous jump this week, it puts further emphasis on how weak $AAPL has been but when we look at the chart, although it has lost the 50 and 200 Day MA, the price only went slightly below the 0.38 Fib which is standard for a Wave A pull back.

Earnings out on Thursday and I believe $AAPL reacts the same way $TSLA has after its release, where a lot of the bad earnings and decli...

ANNOUNCEMENT - VIDEO COMING SOON

I have been experimenting with some videos lately and will start adding some soon for all members.

For two reasons:

1. For educational purposes, it is easier for me to talk through a chart and to explain what I am looking at and what I expect next.

• It also gives me an opportunity to expand on our lessons and talk members through chart movements

  2024-04-27 19:10:34 +0000 UTC View Post

$QQQ + $SPY X uploads

I added a few market charts to X today to see how some indicators look on the weekly charts, so we can build a bigger picture of how the market is moving and the RSI and MACD indicators are telling.

Both in a very clear descending trajectory right now

But still, we will wait for the test of the 50 Day MA on the daily chart

More on this tomorrow evening when I uploaded the TOP ...

$ADA

$ADA is still holding above the 0.618 Fib and remaining in our count, the price is below the 50 and 200 Day MA's right now so it is showing more weakness than the other larger cryptos right now but as long as the 0.618 Fib is held, the count remains as shown.

I was in two minds whether to add here again but I decided to add to my $ETH position instead when it dropped 2 weeks ago when Ira...

$ETH

Some activity with $ETH this afternoon as price finished the week above the 0.38 Fib at $3100

Above is the daily chart but on the 1hr chart we can see that the price action bounced on the 50 and 200 Day MA today cause a 4% jump.

For any new members here, we believe that $ETH and $BTC are not in the same counts right now for one simple reason, $BTC made a new ATH leading up to the ha...

$CQQQ

The Chinese QQQ also broke out today from a channel it has been in since the very start of 2023.

Incredible timing for all Chinese stocks that we follow to breakout of their respective resistance levels at the same time.

The 200 Day MA is also the big elephant in the room here looking above at $35

A break out and hold above this level and we in a strong position across the boa...

$TSM

Looks set to finish the week holding comfortably above the 0.38 Fib, as is $AMD.

There’s a little fight at the 50 Day MA right now and it may continue again going into next week, as I expect the US market to as well

Overall $TSM has moved very well pulling back in this Wave 4 and holding where it needed, I can’t fault it and have no reason to alter the chart as shown....

$FUTU - WATCHLIST -

Explosive breakout this week and finishing the week strong

Used the 50 and 200 Day MA for support and with the HSI moving bullish, the bulls capitalised on this set up here too

Price also triggered a golden cross today too between the 50 and 200 Day MA.

A higher high was made today too….so we have a number of bullish indicators here now plus in bullish market.

Next tes...

SILVER

Continues to hold on the 0.38 Fib at $27

We saw today that Copper moved back up to its breakout level for a test so it will be interesting to see if Silver does this next too.

The 50 Day MA is moving up to the $26 level now, making this a confluence level so any test and hold at this level and I will add.

Silver not collapsing or pulling back in spite of the market getting a b...

$SQ

$SQ like $PYPL and $AFRM is still holding its structure very well and holding at the 0.618 Fib.

Earnings out for both PYPL and SQ next week so they need something big to get them out of this consolidation and some luck from the 10 Yr rejecting.

Price is still below the 50 Day MA here too, so there is still a bit of work to do but my projection remains the same.