The Long Investor

$IWM

This has been a wild ride for The Russell 2000 over the last week.

It lost the 0.5 Fib at $170 last week and we have seen that this has been lost over the last 2 years but it was recaptured very quickly.....so the $IWM needed to do the same....and boy did it bounce aggressively and get back above the 0.5 Fib at $170 and finished at $174 for the week.

$IWM has not looked as strong as...

$FSR

I have an urge to buy $FSR down at these very low attractive levels, I believe the R v R favours the reward side here and since my intention has always been to hold $FSR for long term, I feel I should be taking advantage of these low levels.

We watched a strong bounce today to $5 but can see that this has rejected at the red line so the pull back now is very important.

I am watching...

$COIN

Bulls should be encouraged about a few things here.

Support was found on the 200 Day MA and it bounced from here.

Wave 5 looks in now, and

Crypto stocks are going to start attracting buyers back into the market soon as they appear to be performing very well and a lot of positive sentiment is drifting back into this market too.

I can only see one Wave bounce so far so a p...

$ENPH

Not much to add here from our last update.

Price has found support so far on the 0.78 Fib at $76 and our blue line....the price and trend is still quite weak and we need to see a lot more to confirm a reversal.

Big test will be trying to get back to the $113 blue support line, which was the previous support line which had held since Sept 2020......so getting back here is a big state...

$VIX

Finally the $VIX has dropped down below the middle trend line and below the 50 and 200 Day MA.....this is a good move for the market.

And our big red X has never changed.

This is where I feel the $VIX will move to by EOY.

Yep it has not been pretty and yep the last few months have been incredibly complex but I think our members, who have stuck with their convictions have come ...

$DNA

Another big day for $DNA, up 9% now and this has been a very strong bounce from $1.29 to $1.70 today.

It is absolutely vital that you understand how Fib levels work, whatever your opinion on EW Theory, Fib levels are used by almost all technical analysis and not just people who use EWT.

Fib levels show you where support can be, the lower the support goes, the weaker the structure bu...

$SBUX - RC -

Important junction here for $SBUX, positive earnings yesterday and this has bounced very well.

Right at the wedge trend line now, above this line at $104 and you would expect that the bulls are in control as this is into the bull case....but a rejection here and it is down Wave C.

$SBUX have also announced that they are expanding stores by 14000 over the next few years which would b...

$AMD TOP 20

$AMD has done incredible work since reporting and it has broken cleanly out of the channel now and we can see on the 1hr chart that a small retest of the trend line from above has taken place and so far it has held support and bounced.

We have been here before at the start of October and when the price retested the trend line, it did not hold and came down leading up to earnings....many o...

$SQ

What a difference a day makes.

Analysts have been positive on $SQ this morning and are touting that $SQ has mimicked $PYPL's earnings report response and we know that both of these companies are closely linked.

Strong bounce on the yellow trend line, if this line was lost, I feel the price could have came down as low as $32 so thankfully there was a positive beat.

What I like ...

$SE TOP 20

The bulls have defended the 0.618 Fib and blue line at $40.60 very well here and after showing a bullish candle on the daily chart on the 1st of November, it has bounced very aggressively today with positive news for the market.

Happy to see that important $40.60 line defending as we know this has been an important support/resistance line for bulls and bears.

The plan remains the sa...

$NIO TOP 20

Would you look at this?....$NIO is starting to behave itself and starting to follow a pattern.

$NIO broke above the 50 Day MA that we were watching and also broke above the yellow wedge trend line, the price then spent the day yesterday holding support on the line.

Happy with the support above the trend line, it then bounced all the way to the 200 Day MA on the 1hr chart, so far it ...

$PLTR TOP 20

$PLTR bounced incredibly strong today on an earnings beat.....it wasn't a brilliant earnings beat and just slightly beat (revenue beat by 0.48%) but the market decided to jump in which tends to happen to $PLTR after earnings due to its cult following.....I suspect if $NIO beat on their earnings, something similar would happen.

Unfortunately for the bulls, they have left an enormous gap be...

$BIDU - RC -

$BIDU has taken a slump over the last 2 weeks after the US announced that $NVDA may have to cancel billions worth of orders to China and the market feels that $BIDU may be most affected by this.

That being said, the price has gone lower and this Wave 2 has extended longer than expected but the price is still just at the 0.618 Fib now which is the normal pull back area for Wave 2.

Ea...

$DOGEUSD

Is $DOGE the next crypto to pop?

There is a number of indications to show that it might be....

It continues to hold support along the $0.055 line and has recently broke above a trend line that has been a resistance line since April 2022.

Also above the 50 Day MA and testing the 200 Day MA now.....we can see on the Cardano and Solana charts that they have both broken above thei...

$CELH - RC -

$CELH announced a 3 for 1 stock split today. Which is uncommon for a company that is only on the market for the last 4 years to announce....that being said, the share price has gone from $3 to $206....so I believe there is merit in this decision.

This will likely attract more people to $CELH too.

But I have two scenarios here, if the price can hold on the 200 Day MA which is just at...

$ADAUSD

Yesterday I showed that Cardano was approaching it 200 Day MA and this would be the next test, a break above this level would be putting this in a good position.....24hrs later and there has been a clean breakout and the price rallied when it broke out too.

We can see that Solana has moved sooner and has been very aggressive and it appears that Cardano could be following now.

The pr...

$BAC

I am particularly proud of this chart, since I first counted it in March of this year.....and this has been a hell of a year for the banking sector, we hit our target within a few cents.

The 0.78 Fib is at $24.89 and the price hit $24.96.....so $0.07cent is the difference.

So far the price has bounced very well on this level, in line with yields coming down, TLT going up and the pri...

$DNA

So who stuck with this?

It needed to come down to the very last Fib level at 0.887 to find support.

This is certainly a test for anyone and it is usually only those who really believe in the company to be able to hold down to these low Fib levels.

Fortune also favours the brave.

Up 13% today now and looks like it has its eyes on the 200 Day MA at $1.68, big test here an...

$TLT

Need to hold at the bottom blue line at $82, which was the lows from 2006-2008, all the way to the great financial crash.

So far it is bouncing to the relief of many.

We want to see this continue, this will also take pressure off the equities market too.

The 50 Day MA is at $90, this will be the next big test, bulls will want to convert this to a support level to show strength...

$UBER

This is why we believe in Elliott Wave Theory.

Simple and straightforward chart to read.

Why can't they all be like this?

$CROX

The short of the year continues to behave as we expected.

Some savvy members have made some money out of this and I am happy to hear it.

When the 50 Day MA crossed aggressively down through the 200 Day MA in July, this added to our theory the price action was in Wave C and we can see that there has been a further rejection at the 50 Day MA today after their earnings report.

Bi...

$FSR

$FSR is having a day today! We said yesterday that we would like to see this hit a double bottom and bounce.....we are seeing this so far.

I have been tempted to add today but I need to see more.

Two things I would like to see:

1. A pull back to make a higher low or

2. Break above the red line ($4.77) that it stopped out at today and convert this to a support level.

$LULU

$LULU continues to look incredibly strong and if you were to look at this chart, you would never determine that the market really struggled over the last 3 months.

The price bounced very well on the 200 Day MA after it reported its earnings at the start of October.

The price is right at the apex of the ascending triangle now, sitting on top of the 50 Day MA too....I suspect a big mo...

$SPY TOP 20

$SPY moving very strong today, a lot of positives catalysts have reported this week and the market has reacted accordingly.

Price is above the 50 and 200 Day MA on the 1hr chart too.

It hasn't shown any signs of rejecting yet but if we draw the 0.5 and 0.618 Fib from the highs today, the pull back area for subwave 2 is at $419.55 to $417.20....but be mindful that the 200 Day MA is a...

$AAPL TOP 20

Very strong bounce for $AAPL at the bottom of the bullish descending wedge trend line and the PM price has brought this all the way up to the 50 Day MA.....this has been impressive, considering the price was below the 200 Day MA at the start of this week.

A break out of this wedge will be a big statement and the bulls will firmly be in control.

All eyes on the earnings after the clo...

US 10 YEAR

This 10 Year decline has been really helping over the last the last 2 days.

We wanted to see a firm rejection at the 2.618 Fib at 4.9% and although it raised its head above it slightly, it has rejected very well since.

We want to see more of this.

The 2.414 Fib is next at 4.61% which is also where the 50 Day MA is moving to, I suspect some support here but if it can break down...

$NIO TOP 20

Moving above the 50 Day MA on the 1hr chart in the PM now, after getting a late rally into the close yesterday along with the market.

It looks like positive optimism is sweeping through the market right now after the majority of earnings reports have come in and the overwhelming majority of them have beaten and are positive.

This is a good and welcomed sign for the market.

$LI...

$SHOP

Up 16% in the PM now after a very positive earnings report, beating revenue estimates by $360 million.

$SHOP needed this strong report and in my last upload, I said that I believe it was still going higher but could not go below the red line.

The price has jumped above the 50 and 200 Day MA in the PM, so I have added in the provisional subwaves in now.....but please remember, Subwav...

$SOLUSD

From $36 to $43 in one day since we added $SOL. Nice time to start adding more crypto stocks.

The price got as far as $47 today too, which is half way up from our blue line and the first target.

Would be nice to see this move higher but to show better strength, a retest of the blue line at $39 would be ideal first, a new support level here would be quite bullish and the targets woul...

$XPEV

Another chart like $QCOM and $ONON.

5 perfect waves up, 3 perfect waves down and holding at the 0.618 Fib and starts moving up again.

$XPEV also has their earnings in 2 weeks time on the 15th of November.

They have impressed me today with their delivery numbers and are moving faster than $NIO.....but it must be noted that $XPEV need to sell more EV's than $NIO to generate the ...