The Long Investor

$DKNG

There was an oversight here from me, in the large white circle I had originally counted as an ABC after bottomining because Wave 1 did not look impulsive to me but now we can see that it was a leading edge diagonal, and from Lesson 4 we know that this can happen in Wave 1 and it is difficult to see when it happens, only when the count is complete is it clear.

So I believe this entire stru...

$FSLR - RC -

$FSLR had a wobbly month but managed to stay above the red line which is the impulse invalidation line, as wave 4 would have infringed on wave 2.

It had lost the yellow trend line leading up to earnings but after a positive earnings beat, the price has been able to recapture this level now, still needs to show more strength to hold comfortably above the yellow trend line so the bulls can ...

$LRCX

Another reminder of this chart too.

Manage to handle the last 3 months very well too and stayed above the 200 Day MA and also used this as a support level to bounce higher.

Price is starting to drift back up to the blue line again which is the previous high.

Price needs to break through this level soon......any rejection here and this could come down again and the bulls have l...

$MSTR

$MSTR suffered over the last 3 months with the market and the other crypto related companies but the chart has remained the same, the first and second targets have not changed, we can see that the first target level has been used as a support level since June and eventually bounced very aggressively.

Second target remains at $510 with Wave 5 going as high at $551.

$RIOT

Just a reminder of the larger chart for $RIOT till the middle of the summer.

The price is starting to drift higher here and there has been a lot of positive sentiment towards crypto lately, so lets see if the crypto companies start feeling this attention now.

Back above the blue line, the 50 and 200 Day MA's too.

This does look ready to make a move....

$LI

$LI the machine.

Up nearly 9% in the PM, $LI reports their earnings this Thursday before the US market opens and the market certainly feels that it is going to be a positive beat and looks to be rallying the price before earnings.....a clear beat is expected, since they have been smashing their targets and have also mentioned that they expect this performance to continue.

We know th...

$SOFI

My honest opinion on $SOFI is the large white circle bounce concerns me....this is to me is not an impulse bounce and there is very clearly 3 waves in this structure....so this is why I have this as an ABC structure and it has been moving down in 5 waves since topping out at $11.70.

The price is also struggling to get back above the blue line at $8 and holding above it....$SOFI was also o...

$SE TOP 20

$SE has also started the PM looking strong after strong sentiment roams around the Asian markets to start the week.

Up 3.8% in the PM too, after recapturing the blue line very quickly on Thursday and Friday.

PM has the price at $46.50 now, the previous high was at $48.40.....a new high here and this would be a big statement and the market showing that it is aware of the large gap fi...

$NIO TOP 20

UP 2.8% in the PM now after finishing up 5.6% on Friday.

Asian markets continue to perform very well this month and with the Korean markets decision to ban short selling now until to June 2024, this has lifted the markets there too.

Will this start attracting more activity to the Asian markets?....so far it looks like it will.

It is hard to believe but $NIO only dropped into t...

$PYPL TOP 20

Boy did this bounce make a lot of people happy this week.

Last Friday the price dropped below the trend line and this caused a lot of concerns, mainly that the price could go lower to the gap fill at $45 and this was a legitimate concern, as the market was on a knife edge.

This week it reported a positive earnings beat and added that it continues to buy back shares and reduce the fl...

$BTC TOP 20

The only chart on $BTC that I have seen anywhere this year that has been correct.

I get that the price action between July and Sept was complex but the price bounced on the blue line and held the impulse wave rules and has performed incredibly well since, from $25k to $35k today.

I have no reason to doubt this chart or any need to change it.

Bitcoin is expected to complete its...

$TSLA TOP 20

$TSLA put up a fight last week and ultimately the bulls won that round as the price finished above the 200 Day MA for the week.

I do not believe the direction is decided here yet but bulls must be encouraged that the price action was able to move with the positive market sentiment and not against it.

So if all Mega Caps move higher, $TSLA will likely follow suit.

A pull back w...

$COST TOP 20

Consolidating sideways here since July and has managed this rocky market very well, price action has still not reacted strong to the rally in the market last week so I believe this is a stock to watch now and move higher next.

The impulse wave is still looking strong and structured and Wave 5 remains the target by mid '24 at $670

Getting above the $571 level and holding, which the p...

$QQQ TOP 20

This price action is very interesting to me.

We can see just how weak the market was last week when the price dropped below the bullish flag trend line and looked to test the 200 Day MA and the 0.38 Fib but the S&P 500 needed to bounce on Monday and pulled this back up too.

A very strong and aggressive bounce too and almost to the top of the bull flag again at $370.

I have...

$NKE TOP 20

Could this count could not be moving any better.

Solid bounce at $88 and on the yellow support line and finished Friday at $107.

Wave 2 is due shortly and since I have not touched this chart in 6 weeks, I am not going to start now.

Wave 2 finding support above the yellow trend line is what the bulls will want to see and this will be confirmation that the reversal has started.<...

$MSFT TOP 20

I uploaded this towards the end of the week but it is worth mentioning again just how strong $MSFT is looking and has been leading this market reversal.

Also $MSFT is only $14 away from making a new All Time High which is remarkable considering all of the macro influences right now.

The price action also finished above the blue line this week too and it is difficult to say if Subwav...

$INTC TOP 20

$INTC for the second time in 3 months has broken out of this ascending triangle formation which has been a torn in the side for bulls since June.

But what they need to see now is the price finding support above this level now at $37.10, bulls will need to see a firm retest and confirmation of support to feel like they have it now to go higher.

This line has been so important over th...

$GOOG TOP 20

Bouncing very well with the other strong Mega Caps and used the 0.38 Fib as a strong support level, making this chart very textbook.

Whereas many were wondering where that pull back came from after a positive earnings report.

However, EW Theory students know that this behaved exactly as expected and pulled back to the 0.38 Fib......I will never forget before this happened, when we s...

$F TOP 20

$F did move positively but there is still enormous amount of work to be done here to get this back bullish.

The price is still below the blue line, which was the June '22 Low, below the yellow trend line, the 50 and 200 Day MA too.

All these levels need to be converted again from resistance levels back to potential support levels.

$F is in the buy zone so there is value here a...

$DIS TOP 20

Very interesting and well constructed Inverse Head and Shoulders pattern formed here after holding above the wedge trend line.

The price also finished out of the bear case and buy zone too.

The Right shoulder should bring the price action up to the 200 Day MA too at $92, so this will be interesting to see how this develops.

$DIS moved with the market this week so this was an e...

$BABA TOP 20

$BABA has announced this week that they will report their earnings on the 16th of Nov before the US market opens.

What we want to see is more of the same from their previous report, to show that growth is consistent and they are expanding outside of China.

The share price has not reflected the growth yet but I believe this will only last for so long before the market decides that th...

$ABNB TOP 20

$ABNB also beat on their report this week and their EPS particularly was impressive and beating by 214%.

There was a slight lower outlook for nights in Q4 and the following day after the report was slightly red but the next day it opened strong and finished up 6% for the day, with analysts recommending a Buy with an average price target of $160....I suspect this will be revised up again a...

$AMD TOP 20

Very good start to the month for $AMD, earnings announced on the 31st of October and it was a positive beat but a Q4 range guidance which the market initially took as a negative, until CEO Lisa spoke on their earnings call and explained how profitable they believe $AMD will be in 2024, the AH decline recovered and on the 1st of November, $AMD finished the day up 9%.

We know that this was ...

$AAPL TOP 20

$AAPL did not run aggressively after its earnings as the market got fixated on the YoY revenue decline compared to their record breaking year last year.

But we said before the earnings report, that it had already run up 6% leading to Thursdays report and the market could be factoring in the report then.....turns out they were.

$AAPL still has a long way to run to complete Wave 5 but...

$AMZN TOP 20

$AMZN has gained 17.8% since its earnings call and has performed even better than expected and rightly so, the earnings were excellent with all important metrics increasing.

I said before the earnings that I bought at $119 and $AMZN accounted for 30% of my total portfolio, so needless to say I had a good week and we have many members who have bought $AMZN who made significant amounts.

$SPY TOP 20

This is the exact same chart that was uploaded last weekend. Showing that $409 needed to be defended and the bulls needed to step on or the entire impulse wave breaks down and becomes invalid.

So there was no margin of error, from Monday the bulls needed to step in......and boy did they step in! The market climbed every day and gained 6% for the week. The best performing week of the year....

Lesson 4 - Part C

Ending Diagonal (3-3-3-3-3)

What is an Ending Diagonal?

Ending diagonal is a motive wave that occurs in the 5th Wave of the impulse waves or the final position of a C wave in a corrective sequence (A-B-C). It signifies the exhaustion of the larger prevailing trend.

Some of the Characteristics of an Ending Diagonal wave:

1. Wave Structure 2023-11-04 19:29:09 +0000 UTC View Post