The Long Investor

$EWZ - SAFE HAVEN -

Brazilian market ETF.

Very interesting development here.

On both the daily and weekly chart we can see a hold above the trend line now which is significant, both charts are attached.

Also above all moving averages on both charts too....so there is bullish indicators here now that support our count that this will start moving up to Wave 3 over the next 2 years to $70.

The...

$SQQQ - SAFE HAVEN -

No changes to this Short QQQ chart and it is has been a great cross reference for us over the last few months.

Look at how well the price action is respecting the amber Fib level too.

I expect more downside to the 0.5 Fib or even the 0.618 Fib at $10.25 and $7.18 before this reverses and it will reverse.

This is why it is in the Safe Haven Folder, we will be looking at taking ...

$PATH - RC -

Adding on from our previous $PATH chart, it is pulling back nicely here towards the 0.38 Fib for our Wave 4.

The 50 Day MA is also in the way so it may find support on this level and complete Wave 4 here at $21.50.

For now, this is in a good bullish impulse set up and I believe this will continue higher over the next few months.

$DAL

Airlines are sinking today and although $DAL almost doubled their Q4 profit, they lowered guidance and the price is down -7.5% right now.

This is not a surprise, we got a strong run up to earnings in July which we profited strongly from and we saw the same thing happen here.

This chart has not changed and the Fib levels remain the same as on the last chart and so does the commentary...

$OXY

It is my understanding that Buffett has added to his position here again and this brings his ownership of the company up to 34% now....Up 9% within a few months.

I have added on the chart where Buffett continues to buy and he is the master at conviction and buying in the undervalued zones.

As long as this stays in the wedge, there is a potential for this to breakout and a move to th...

$BABA TOP 20

I am keen to add to $BABA more so than $NIO, I believe both have been beaten up but $BABA fundamentally is very strong and there is a general consensus that in spite of the feelings towards Chinese stocks, $BABA is still regarded as a Strong Buy.

I like how it has held the 0.887 Fib and the blue line here at $71 but I want to see higher highs and high lows next and getting back above the ...

$NIO TOP 20

A relentless start to the new year for $NIO, 30% bounce from mid December has almost been erased now and the enthusiasm from $NIO day and CEO Li showcasing the 1000Km range seems a distance memory.....we are waiting to see if $7 is tested again.

So far $NIO has just been flirting with the last Fib support level on the 0.887 Fib at $7.30.....this is a delicate place to be, any flush here a...

$ETH

$ETH nothing but textbook here from $ETH.

Bullish channel till November, followed by a breakout, then into a flag in Dec and continued to consolidate, there was nothing bearish about this set up either and it broke out when it got the catalyst.

We have said that $ETH has been lagging $BTC and that is why we bought

So as $BTC pulled back yesterday, $ETH extended and went higher...

$PYPL TOP 20

$PYPL is not showing weakness here after holding very well on the 0.618 Fib and now forming a platform on the 0.38 Fib.

The 200 Day MA on the daily chart is starting to drift down slowly from the 1.618 Fib, so this is the next test for $PYPL, I see $PYPL testing this level before anything else happens.

The battleground for me is still between $64 - $66.50, I am expecting resistance ...

$CHWY - RC -

Bouncing on the $16.66 level here, recording a double bottom so far but I can only see 3 waves in this bounce, so we need to see a higher high next to rule out another corrective wave here and a stagnant move sideways. 

No changes to this chart however and I still have Wave C finishing high at the blue line at $52 as part of its count. 

For now there is still a lot of risk...

$PSNY - RC -

$PSNY has fallen into the same category as $LCID and $FSR and has a market cap between both.

$PSNY is a an EV subsidiary of Volvo and I have seen these cars all over the world, they are in Ireland, Europe, North America and I even saw them in Tokyo and Hong Kong last month.....they are in 20+ countries right now and their share price is still getting beaten up.

It is struggling to b...

$BAC

The majority of all the largest banks in the US will report their earnings tomorrow which is the start of the earning season.

We can see that $BAC and $JPM have run very strong leading to their earnings tomorrow which is a red flag to me.

I believe a pull back is needed here but whether this Wave 1 is complete now is not confirmed yet, it may run to the top blue line at $38 if the r...

$JBLU

Volatile weak for $JBLU with some wild swings, not unsurprising considering what happened with Alaskan Air last weekend.

Still managing to keep its structure and has been consolidating sideways which is common in Wave 4 too.

Price is still above the 0.5 Fib and the 50 Day MA so this can still move higher to our Wave 5 target as long as it stays above the 50 Day...any breakdown here ...

$QQQ TOP 20

$QQQ is struggling at the blue line which was the previous ATH line before December, I would like to see the price reject here and move down to our Wave 2 target.

Once we have Wave 2 complete, we can count Wave 5 more accurately, especially the Subwave 3 target at the 1.618 Fib.

A pull back here would also bring back down some of our favourite stocks we have been waiting to add too....

$U - RC -

Nice pull back here so far in 3 waves too, so I have added in the green impulse waves to show where support can come.

The 50 and 200 Day MA and converging at the same level just above the 0.5 Fib, so this should be an area of interest for those wishing to enter, wait for support to be found here first.

$AFRM - IMPORTANT LESSON -

People may be wondering how we were able to find the First and Second Targets here and how can we find a stock that can jump from $15 to $51 in 5 months?

This chart shows how.

The theory is that the largest width of a descending wedge is the potential distance a price action can extend to if it breaks out.

I have highlighted this with the long white ovals, both are exactly th...

$RBLX

Above its 50 and 200 Day MA and now testing the wedge trend line again for support, a hold here and this is in a great position to bounce and move higher for our blue line, which is the previous high at $53.79.

A break above this level and the bull case is confirmed and Wave 3 is set at the 1.618 Fib at $77.

$SKX

$SKX does not care about CPI, a market pull back, $NKE reporting reduced guidance, it simply does its own thing and that is moving higher through its Wave 3.

I would like to see a pull back to the blue line at $55 or the yellow historical support/resistance line but for now, it it holding its own very well.

We are not seeing this strength in $NKE or $ONON.

$RIOT

Nice 3 wave pull back here and the price is drifting down to the 0.618 Fib and 200 Day MA which are at the exact same spot at $12.50, coincidence? No.

A hold here at this confluence level and Subwave 2 of Wave 3 is complete.

Wave 3 target remains at $36.59

$XPEV

$XPEV has not declined to its lowest Fib levels yet but it has shown some weakness.

It has lost the 200 Day MA, our blue support line and the 0.618/0.65 Fib in one week.....like I said yesterday under the $LCID chart, a lot of EV growth stocks are hurting right now and $TSLA is no exception either.

$XPEV holders will need to watch for the lower Fib levels to see if support can be fo...

$NIO TOP 20

Testing the buy zone again today under $7.38.

We are all waiting to see if $7 will be tested again and if it is, will it hold for the 5th time?

We can not say for certain that it will but if the bulls manage to hold $7 again, then this would solidify the strength of the $7 level as a strong support level.

$PLTR TOP 20

Good stuff here from $PLTR bounced in 3 waves and broke down today, all we need to see is lower low next below $15.67 and the trend should continue down further.

I would be happy to start a position on the 0.5 Fib at $13.97.

Patience still here.

$ABNB TOP 20

Ok $ABNB has done everything we have asked of it, bounced on the 0.5 fib at $131 and happy to have bounced in 3 waves and testing the 0.236 today at $141......a rejection here and this is flawless.

A rejection will likely bring this down to a lower low, meaning we are looking at the 0.618 Fib at $127 and this is where we will be looking for support and then starting a new position.

...

$GOOG TOP 20

$GOOG has now got the higher high and looks intent on moving higher to the ATH line at $152 now.

Absolutely fantastic work out of $GOOG for the last few months.

Wave 2 pulled back to the 0.618 Fib at $128 the start of Dec and then we got a further pull back and again holding support on the 0.618 Fib at $133 and at this point, we saw enough, were happy with the hold and bought and se...

$BTC TOP 20

$BTC has pushed higher today after the BITCOIN ETFs were approved yesterday and we are inching closer to the important 1.618 Fib at $50970

We have got to imagine that a rejection will come here after this ETF approval is getting baked into the price now.

And we know that the 1.618 Fib is an extremely reliable Fib level too for Wave 3.

I have no reason to doubt this chart as it...

$LCID - NOTE ON THE EV SECTOR -

People are disappointed by $NIO not holding its Bull move but the sector is hurting bad, lead by $TSLA rejecting at its important trend line.

$LCID
$PSNY
$XPEV
$LI
$NIO
$TSLA

$FSR

$RIVN

are all feeling the selling pressure right now, some more so than others.

$LCID, $PSNY and $FSR are in the worst positions, they have lost crucial support levels and ...

$CRWD - RC -

$CRWD has run fast and when the market was pulling back between August  - October, it continued to show strength and pushed higher, when the selling pressure released at the start of November, this shot up....jumping almost $110 in 2 months.

$CRWD is moving strong with the Tech Mega Stocks and now has a market cap of $67 Billion, I suspect it will continue moving higher to its ATH li...

$COIN

$COIN  has been holding at the 0.38 Fib which is where we have set our Wave 4 target.

It is expected that the Bitcoin ETFs will be tradable from tomorrow, so this is a major catalyst for the asset and $COIN may benefit from this enthusiasm too.

Failure to hold here and the 50 Day MA is at the 0.5 Fib below and may offer support too.

$LUV

Interesting here from $LUV, it bounced on its Covid Low line, broke out of its relentless downward channel and went straight to the 200 Day MA, it has since pulled back, held on the 0.38 Fib and testing the 200 Day MA again now.

A break above the 200 Day MA and we have one more leg up, as a hold at the 0.38 Fib indicates a Wave 4, so a breakout above the 200 Day MA and this can move to $3...

$TDOC

Tested the 200 Day MA and pulled back, held the 0.236 Fib and looking at testing the blue line and 200 Day MA again, both at $22.36 level.

We may see this come down to the 0.38 Fib which would be the standard Fib for Wave 4 before going higher first tho.

If there is a break out above this blue line and the 200 Day MA, this will be a bullish signal for $TDOC and if it can hold succes...