The Long Investor

$PLUG - RC -

$PLUG has so far held at the 0.618 Fib at $6.40 and has bounced since and is about to test the 50 Day MA at $8.10.

The next test will be at the yellow trend line at $8.80 and then getting above the 200 Day MA at $10.80.

$PLUG still has an ENORMOUS amount of work to do to get above these 3 resistance levels to show signs of truly reversing.

Any rejection at these levels and thi...

$NIO TOP 20

Another sideways move yesterday, still trading along the 0.618 Fib support at $8.43 and just under the 50 Day MA at $8.60.

Unless $NIO can get above this level and hold, this will continue moving sideways.

The 200 Day MA is above at $9.07 now and continues to drift down, if this continues, the 50 and 200 Day MA will meet shortly, putting more pressure on this sideways movement.

$EL

$EL could be finally ready for a number of a reasons.

1. I can see three clear ABC waves in this correction

2. The Wave C finishes exactly on the 0.78 Fib

3. The 0.78 Fib is also exactly on the Wave 2 low, so this is a strong confluence level

4. The price is at the end of a very tight descending wedge (bullish formation)

5. Fundamentally $EL is strong.

I ...

$ETSY

Is $ETSY finally ready for its reversal?......it is now back above its blue line after dipping below for the Sept and October but managing to stop its bleeding and start to recover.

Earnings are due around the 1st of November so there is early signs that this is starting to move optimistically leading up to earnings.

I have this count as an ABC count and this has been working out ve...

$DIS TOP 20

Ok interesting here from $DIS, it retested the trend line, which was also at the 50 Day MA and has now bounced, this is very positive stuff from $DIS and has been a rare sight.

The green line above is the 0.618 Fib at $86.88, so flipping this to support is also a very strong statement too,

So maybe $DIS is ready to turn this around.

If the bottom came in at $78.93, then this i...

$DNA

$DNA bouncing and showing strength when it needs to.

Like I said in my last uploaded, it has kept it tight but each time the bulls needed to step in, they have.

We can see a very positive bounce on the 0.887 Fib, which means it has made a new higher low.

We need to see a higher high next now, so getting above the 200 Day MA first and then above $1.85 to confirm the new high. 2023-10-17 21:09:32 +0000 UTC View Post

Telegram groups are now closed.

I can see that Telegram has displayed the message that people have been banned from the Telegram group and that is why they do not have access to this group anymore.

This is not the case, I have closed the Telegram group chats and we are only using the Patreon Group chats now.

There are two groups: The Long Investor Main chat group and the TLI only chat group.

We will only be...

$SQ

We want to be excited about $SQ bouncing on the trend line and then pulling back to find support on the 0.618 Fib at $43 and then bouncing again, this is everything we want to see from the start of an impulse wave but we need to stay calm and measured here as this shows strength.

We can see from the $SE chart the benefits of keeping with a stock when we know it is undervalued and $SE has ...

$SPY TOP 20

Very nice show of strength today from $SPY.

We have an ABC count now and $SPY went from deep in the red to complete Subwave C at the opening to making a new high now.

We can also see that the price is above the 200 Day MA which is at $435 on the 1hr chart.

So while many have been caught with their blinkers on glued to the $NIO share price, the market is showing more bullish si...

$AMZN TOP 20

$AMZN is very similar to $AAPL here, both counting a very clean ABC corrective wave now, we can see that Subwave B hit the 200 Day MA and rejected and has dropped today......there was strong consumer spending reported today, so this should help $AMZN grow as it leads up to Black Friday and Cyber Monday next month.

Again I will be watching to see how $AMZN behaves on the 0.618 Fib, the sam...

$AAPL TOP 20

Same chart from the weekend and we said that Subwave 1 needed to complete shortly and the blue line at $182 was as good as any line to reject at and come down.

We have been seeing just that this week now.

So as always I will be watching for the 0.618 Fib at $173 as the support level to complete Subwave 2.

$AAPL has been very strict with its waves, so it is a good measure of ho...

$AMD TOP 20

Bidens policy of restricting Chip sales to China just before the market opened today has hurt the Semi market and there is strong pull back.

I am not particularly concerned here, Biden has identified just how important and vital these chips are now.

I am watch for this pull back to the 0.618 Fib now as the bull flag was not held.

I am eager to add more here so if I see support...

$LCID

$LCID is perfect example of when a company consistently under delivers on what they said they would do, so the share price will reflects this poor performance.

An impulse wave can not come when they perform this poorly.

This is a wake up call for $NIO too, if they do not hit their targets now, $NIO will go the same way as $LCID, not me or any chartist can make a company perform bett...

$ALIGN - RC -

Large pull back in 2022 came all the way back to the 0.887 Fib at $198 and held above the Covid Low level on the blue line at $129.

Since then it has bounced and pulled back again to the 0.618 Fib now at $265.

We would like to see it hold at this standard pull back level, if it can hold here, it can move higher as shown, where Wave 5 conveniently finishes exactly at the 2 Fib, at th...

$K - RC -

Kellanova is Kelloggs Snack business renamed.

I had to go back many years to find this overall trend and I am glad I did because it is very clear.

The only thing that needs to be said is that the price needs to bounce from here because if the price goes below $47, then the entire impulse structure breaks down, as Wave 4 would infringe on Wave 2, we learnt this in Lesson 3 as one of ...

$BB - RC -

$BB was performing well up until June and moving in controlled impulse movements but it all went messy from July onwards, with wild swings which is unsettling behaviour, shorts covering and traders getting out on any bounce.

Once you see this behaviour, it is time to get out, it means the bulls are not in control and the impulse wave has no strength.

Once the double top hit at Wave ...

$NVO - RC -

One of the rare sights where a stock split sends the share price up higher but I do not believe this will last for too long.....we saw what happened when $TSLA stock splitted when the share price was getting high, it was a clear indication that Wave 5 was coming to an end and this is no different here.....in $TSLA's case, the price went from $400+ down to $100.

Stock splits are used to br...

$NIO TOP 20

$NIO keeps returning to the 0.618 Fib line at $8.43 but doing very little from here, I am happy to see it hold this support, however we are into the 20th day of this moving sideways now, we are waiting regardless but this has certainly been moving slow now.

Registration numbers came in this morning:
2023-10-17 11:08:02 +0000 UTC View Post

$LRCX

I keep getting brought back to this company when in discussions about Semi companies and I am reminded how attractive looking this chart is, along with $AMD and $TSM's.

The Wave 2 is as textbook and controlled as they come and the price now will shortly test the blue line which was the Wave 1 high at $730.

A break above this level is bullish and confirms the Wave 3 with a target lev...

$UNH

$UNH has been performing very well since June and has been a great hedge against the market.

Jumping from $446 to $546 since the start of June.

They released their earnings on the 13th of October and it has been another beat, this could continue its rally along with the other Mega Caps until the EOY, where I have Wave 5 running to $620.

$VIX

$VIX -10% day and just finished underneath the 200 Day MA, just barely but at one stage the price went as high at $19.57.

There definitely appears to be a battle going on at the 200 Day MA and the the Vix bears won today but the battle may not be over just yet.

We need to see this come down more, even retest the 200 Day MA from below again and reject fully to confirm the downward tr...

$BAC

$BAC's chart is as textbook as they come, 5 perfect waves up to $50 and 3 perfectly proportional ABC waves down and the price is between the 0.618 and 0.78 Fib right now.

The 0.78 Fib is at $24.89, the price got as low as $25.50, so it is hard to say that the bottom is in now but it has come very close.

Dividend yield here of 3.6% too.

$BAC is not the same as $JPM, who looks i...

$AAL

I continue to watch this in the background and those that have seen my tweet on airlines being undervalued over the weekend will know how the Top 3 are looking right now, incredibly attractive fundamentals and all in oversold territories right now: $DAL, $UAL and $AAL.

The trend for $AAL is still downward here with very little signs of reversing so we may see this touch the 0.887 Fib at $...

$SE TOP 20

Another strong day for $SE moving well in the gap, came down to test the bottom of the gap again at the blue line at $45 and has bounced again, further confirming the upward trend.

What we want to see next is a break above the previous high at $47.20 and we may then get a strong move further to Subwave 3 at $52 quite quickly.

The moving averages also help confirm the trend here too....

$US 10Y

Corrective bounce up towards the 0.618 Fib, as we would expect from a pull back for Wave 2 in an impulse wave, we would expect the same in a corrective wave.

So we could see a small further climb to the 4.753% interest rate level and then another rejection before going lower for Wave 3 as part of this Wave A corrective wave.

$XLU - RC -

Utilities ETF -  appears to be very different compared to the S&P500 right now but be mindful that this is on the weekly timeframe and I have Wave 5 climbing to $92 by 2029.....so it is a long time frame, it was the only time frame I could use to show the full extent of this trend.

We can see that Wave 1 started in 2002 at the end of the Dot.com bubble and has climbed and descend...

$CVS

A reminder of $CVS long term chart.

It has had a few hiccups over the last 3 months but the price is back to where it was in May, as though the last few months never happened.

Above the 50 Day MA now and has the 200 Day MA at $75 next to deal with.

Getting above this level will be quite bullish and means the price has held above the support blue line at $72 too.

Wave 3 t...

$PFE

Up 4.5% now for the day after the CEO came out before the market opened today and said that although they have guided down for the year, they expected Covid vaccines to be taken by 17% of the population.....in line with last years uptake.....so why did guide down then?!?!

The price is now testing the top of the wedge right now, we have been here plenty of times before and I do not trust ...

$XPEV

Another -5% down on no news directly from $XPEV.....apart from this being clearly in Wave C and we believed this was coming down anyway, there is a lot of chat about Huawei and their own EV's and how popular this is becoming.

I wonder is this putting added pressure on $XPEV at the opening or it is simply just moving down Wave C as expected.

I still believe this comes down the 0.618...

$SQ

$SQ has pulled back to the 0.618 Fib now, after bouncing from $40 to $47.50, a nice hold at this 0.618 Fib would be a good move for $SQ and also showing a higher low.

It just has the 50 Day MA to deal with next at $44.45, getting above and staying above this level is important for $SQ.