The Long Investor

$SE TOP 20

$SE has been a bit volatile this week, with some wild bounces, followed by aggressive declines, the price has still managed to stay above the red line at $34.50 but I believe it is possible that a test of this level will happen shortly.

We want to see the bulls defend this level, anything below this level and it is a high concern, with the possibility of a large drop.

So please util...

$PYPL TOP 20

Still in the buy zone and I have been adding to my position under $56, $PYPL is back to being in my Top 3 largest positions right now, I am also back green too, up only a couple of percentages.

If the price is in any of our buy zones, on any of our charts, I consider these attractive positions to be in......I am also bullish on $PYPL too, especially with strong rotations out of Mega Caps ...

$PLTR TOP 20

It remains to be seen whether this Wave 1 and Subwave 5 is complete now, there is certainly an argument to be made that it is not complete just yet.

If we look at the chart and count the waves from our Subwave 4 level at $13.70, there is 4 clear waves and what looks to be the start of another wave....this could easily be subwave 5 of Wave 5, meaning, we have one more leg up to go to our W...

$NKE TOP 20

$NKE is just at our Wave 1 level now, after an enormous bounce from $88 to $113, the price is also above its 200 Day MA, there is not a sign of this Wave 1 pulling back yet but I suspect we may see some signs this week, I will leave the chart as it is....but their earnings report is on the 21st of December, we may see some action leading up to this report.

I would not be comfortable start...

$MSFT TOP 20

$MSFT has been moving just as well as $GOOG, we are getting a pull back now which was just short of the 1.618 Fib but only by a few dollars. I have added in the 0.38 Fib in white which is the standard pull back level for a Wave 4.

If $MSFT can continue moving structurally well as before, we should see some support at this level, a successful hold and we can expect $MSFT to move up for Sub...

$INTC TOP 20

$INTC looks like it is pulling back now to retest our First Target, a successful retest here, like we saw on our $COST chart, would be an encouraging signal.

Let's be mindful that $NVDA has also been pulling back so it is worth considering its movement too, $AMD will also need to pull back more too but I am leaning towards $INTC moving to the Second Target if it can successfully hold the ...

$GOOG TOP 20

$GOOG continues to behave better than most Mega Caps and well on its way to completing it's Wave 2 pull back.

The price is already below the 0.38 Fib and below the 50 Day MA.

Wave 2 as we know has 3 waves in it, ABC, so far I can only see Wave A, so a bounce for Wave B next is possible, before moving down again, possibly to between the 0.5 and 0.618 Fibs at $131-$128.

My plan ...

$F TOP 20

$F showed some promise during the week by retesting the Bear/Bull case line but did not manage to hold above this level, as quick as it broke out, it broke back down.

It also did not manage to make it up to its 50 Day MA either as a test.

$F may make another attempt at breaking out again....but another rejection and this may come down hard as the bulls do not have support....or enco...

$BABA v $AMZN on fundamentals.

$DIS TOP 20

Holders must be happy with how $DIS has been performing and with how its been glued to our projection.

I have added in the Subwaves now and I think we are pulling back for Subwave 4 as the price approaches the 0.38 Fib at $89.

We can also see that the 200 Day MA is racing up to this level too, so this is an area to watch for support.

A successful hold here and Subwave 5 is nex...

$COST TOP 20

$COST is the textbook chart.

It broke out of the bull channel, broke above the First Target level $585, retested theis level then and very quickly bounced.

You can not ask for much more than this from a chart.

Price action that follows this sort of structure should always have your attention.

We have seen it on the $ABNB and $AMD charts too, which is why I went so heavy ...

$BABA TOP 20

Very little to add here, the price has pulled back to the wedge trend line which is just slightly above the 0.78 Fib at $71.

I would like to see $BABA hold this confluence level or it is coming down to the buy zone then.

We know that $BABA is undervalued at these levels, this is why our buy zone is so close, we need to see the market encouraged by this value on offer now.

Anal...

$AMZN TOP 20

Some commentary might be repetitive here today for the Mega Caps as they are closely following each other, $AMZN and $AAPL particularly.

$AAPLs level off and slight pull back is more defined than $AMZN's, as it still keeps pushing higher but it is start to bend, which is an inclination that buyers are starting to dry out.

The 50 Day MA is at the 0.5 Fib right now at $133 which is al...

$AMD TOP 20

$AMD continues to follow the Mega Caps and has plateaued too over the last 10 days.

I would still like to see this pull back more before considering adding to my position.

The 50 and 200 Day MA are at the 0.5 Fib and 0.618 Fib, so this would make sense....just need to see it happen now.

Otherwise, we will sit and wait and not chase at these levels.

There are better oppor...

$ABNB TOP 20

$ABNB is not a Mega Cap and that is why it has also benefited from the rotation this week.

We got out our bull flag breakout on Friday and the stock jumped almost 7%, this was excellent to see and has followed out projection very well.

Once the price action held the trend line at $114, we wanted to see a break above the 200 Day MA at $125, we got that and then we expected a the bull...

$AAPL TOP 20

We have started to see the Mega Caps lose steam this week again and some rotation into small/medium stocks, especially the finance sector and stocks that have been beaten down over the last few months.

$ZM, $SQ, Airlines, Hotels, Crypto and Crypto mining have all experienced a strong 2 weeks, while the Megas plateaued, this has been good to see and the $IWM has enjoyed a strong bounce on ...

What is your Risk Tolerance?

$BTC TOP 20

Beautiful breakout of this ascending triangle here and it has been a pleasure charting $BTC.

Cryptos follow technical analysis because we arguably can not measure their fundamentals.

So a good grasp of technicals, formations, trends and theorys and it should behave normally and that's exactly what has happened here.

Fundamentals can help us find undervalued stocks but they can...

Fibonacci Levels and Elliott Wave Theory

There is a very basic description of how we use Fib levels to find wave counts.

Its basic but this is the overall aim:

Wave 2 looks for the 0.618 Fib of Wave 1

Wave 4 looks for the 0.38 Fib of Wave 3

Wave is an extension of Wave 1 and 2 or Wave 3 and 5.

Keep it simple.

$ADAUSD

Theory helps and guides us.

Wedge breakout, in line with $BTC breaking out of its ascending triangle.

They should move together.

$EWZ - SAFE HAVEN POTENTIAL -

$EWZ is similar to $INDA but represents the Brazilian index.

The Brazilian index has been declining since 2008, where as the US market has been climbing since 2008.

So both economies are in opposite cycles now....which is a good thing.

Money doesn't disappear, it just rotates into difference sources.

$EWZ is also testing its trend line from 2010, which has not been broke...

$INDA - SAFE HAVEN POTENTIAL -

$INDA is an ETF that tracks the India Index.

Alex Kim brought this to my attention and I like his thinking as we look at charts to prepare us for a potential US market downturn in the new year.

So looking at other markets outside of the US is a smart strategy, especially those in different economic cycles and stages of growth.

India has been attracting a lot of Foreign Direct ...

$FUBO

Onwards to the Second target she goes.

The 200 Day MA has been a support level for $FUBO since it broke through this level in July, it has now been tested twice and both times held very well.

The price has also recaptured the First Target again and has used this level as a new support.

With how well this has been moving, I suspect the Second Target is within its grasps next. 2023-12-02 00:03:03 +0000 UTC View Post

$SILVER - SAFE HAVEN -

Silver has just tipped above the trend line today, $25 has been a difficult level to break above for 2023 and hold, so it is at an important level right now, as is Gold.

So Gold, Silver and Crypto are pushing higher, normally seen as a safe haven from concerns in the market.

Silver still has a bit to run before testing its 2021 high at $30, unlike Gold which is very close to testing...

$GOLD - SAFE HAVEN -

GOLD hit $2075 today, the price keeps pushing higher and to be exact: the All Time High price is at $2084 from August 2020.

We have got to imagine that this price will be tested very shortly.

A break above this level is significant....the market is saying that they have concerns, concerns about  conserving their capital.

Bitcoin is also running quite strong too.

Let...

$MGM

20% jump here for $MGM this month and held at the 0.618 Fib very well at $36.

My long term chart for $MGM looks very well here for the next 18 months and since each pull back has been going to its 0.618 Fib and holding, we have many reasons to be optimistic here.

We can also see how well $ABNB has been moving this month too and airline stocks, all of which are correlated.

Reta...

$SQ

Buyers are stepping in every day here....we've had the value hunters buying at the trend line around $40 and doing extremely well and now we have the chasers buying out of fear that they are missing out on more upside, since the price broke cleanly above the 200 Day MA.

I think the price can push higher, even to $74 still but this is not a very good impulse structure, as there has just be...

$ADAUSD

This is wedge is getting very tight here, it will need to decide on a direction very soon and the trend leading into the wedge was to the upside, so I am leaning on this direction next.

I also like how the 50 Day MA has crossed through the 200 Day MA too in the third week in November, to reinforce the trend to the upside.

A break out would also put this in a strong position to go be...

$OXY - RC -

The price of Oil continues to slowly move down as the conflict in the middle east appears to be making less of an impact on the market, it doesn't take away from what is happening over there and it shouldn't be ignored either.

$OXY is a slow mover and has been in this long wedge since the middle of 2022, it can continue in this wedge for a few more months too, my impulse count remains the...

$ONON

Nice recovery again today from $ONON, after pulling back to the 50 Day MA yesterday on the 1hr chart and bouncing hard today.

Very happy with how this is moving and looking on course to move higher for Wave 3 as planned.

I am not seeing weakness here and this stock has been following our lead for the last few months.