The Long Investor

$UNG - RC -

United States Natural Gas fund is likely going to be affected by what is happening in the middle east too and we can see that it is up nearly 2.5% in the PM now.

This is a critical position too as the share price was already moving very fast in October and went almost parabolic on the 1hr chart on Friday (prior to the conflict happening) which is always a strange sign to see.

The PM...

$NFLX

$NFLX continues to concern me and the chart is showing that the price has broken down slightly from the megaphone pattern but hanging on by the 200 Day MA support.

We can also see that the 50 Day MA is starting to bend down now too.

I expect Prime to be the main driver of subscription TV going forward, their focus on improving content and integrating it into their Prime Membership m...

$NIO TOP 20

Today we were not expecting some volatility and a red start in the PM, catalysts like a conflict in the middle east can upset the market, until the market decides how this will affect the international climate.

Overall, I think there will be some short term volatility but overall, the market will continue up Wave 5 as normal, energy share prices will be affected in the short term but any ...

$MSFT TOP 20

$MSFT and $AAPL are in sync again and mirroring each other and again my recommendation here is that any buy under the blue line at $349 is offering value here.

Smart money would have been accumulating this over the last couple of weeks as it approaches the end of its Wave 4.....as I have done with $AMZN. I said for the last few weeks and months that; choose a Mega Cap that you like and ad...

$DIS TOP 20

$DIS got a very strong bounce on its Covid Low line at $78 and has bounced all the way up to the top yellow trend line and almost to the top of the buy zone too.

Big test will be the breakout of this wedge and staying above it this time, we saw that in August after its earnings, $DIS got a strong bounce out of its smaller wedge at the time but never held above and has since drifter down l...

$GOOG TOP 20

$GOOG has been showing an uncearl reading right now, as the pull back for Wave 4 has only been for 2-3 weeks long, I can not see 3 Waves and it is substantially shorter than Wave 2......so we said before that we knew a pull back was coming in Sept even though the chart remained very bullish and we still kept to our reading....and a pull back did come, so I will keep to the chart again and see i...

$TSLA TOP 20

I spoke about the timing of $TSLAs recent price cut again announced on Friday, at a time when all companies needed full support as the market was on a knife edge....maybe management believe that hurting the competition is more bullish to them. But there is no denying that vehicle margins are being scrutinised by analysts each quarter.

These further price cuts will not surface until the ne...

$QQQ TOP 20

The $QQQ was uploaded during the week and we spoke about how this continues to perform better than the $SPY and the $IWM.

I have added in the 0.38 Fib as this is where Wave 4 typically pulls back to and we can see that it has so far done exactly that with also a little margin of safety.

The 200 Day MA continues to be a lot lower and has not been needed as a support level so far.

$PYPL TOP 20

An important chart was shared in the Telegram group earlier that many institutions bought massively into $PYPL in Q2, the share price has still declined since then so the explanation is that retail is selling or the institutions took a swift U turn and started selling again....the latter option is not common.

Institution investors increased their buying from on average $3-$4 Billion each ...

$NKE TOP 20

Very nice bounce on the trend line here, which was a confluence level around the 0.78 - 0.887 Fib which has been a popular Fib level at the moment for this large market pull back.

What is important to watch now is the Wave 2 pull back which would have this coming back to the yellow trend line again and if support is found here, this would be a buy signal.

By then the price should be...

$INTC TOP 20

I see very little people talk about this in our group or online and I also monitor its engagement on this site and very little people are interested.

We get far more interaction with $AMD and $TSM and then $NVDA.

So my suggestion is, since we already have Semi in our Top 20, should I do a poll to drop this and suggest 3 other stocks that we prefer instead? and the most popular one b...

$F TOP 20

$F battled for the last 2 weeks to stay in this bull flag, in spite of mounting pressure from its strike action from its employees.

Repeated negative media battles and a substantial report that they were losing $35000 per each EV vehicle made, has not helped either.

We were always concerned about the amber Wave B in July but it was still valid, so if we make a new low next then Wave...

$COST TOP 20

$COST dipped below the 50 Day MA at the opening on Tuesday when the economic data came in hot but quickly recovered along with the market and finished above the 50 Day to finish the day and week.

I see no reason why $COST will not move to the upside along with the market next and it has been looking strong for the last 2 months, moving sideways but also making a new high.

Wave 3 tar...

$BTC TOP 20

$BTC got some strong movement this week and it is at at critical point right now, it is testing the 200 Day MA from below on the daily chart a number of times and any pull back is getting bought up immediately.....this would suggest that a break to the upside is next.

A break to the upside and a retest of the 200 Day MA and this then flips to support is the perfect situation for $BTC, thi...

$BABA TOP 20

We need to remind ourselves of the big picture here with $BABA, over the last 2 months, it has gone from $102 down to $86 now, maintaining its structure and relatively moving sideways.....$AAPL went from $198 to $167, an almost identical decline in terms of percentages...no company was safe from this Wave 4 pull back and it was particularly grueling because it was double the length of Wave 2......

$AMZN TOP 20

$AMZN is another stock I bought heavy again at $123, I added to my holding by 30%, the price is only at $126 now, so it is still close to where I bought again.

I would still love to see this come down more to add again, especially under $120 but it has held the 0.38 Fib at $122 so far and the Wave 4 pull back aims for the 0.38 Fib, so this is as standard as it comes.

So with the 0.3...

$ABNB TOP 20

I sent a buy alert out that I added $ABNB this week.

It has tested the 200 Day MA on two separate days this week and I really like how this chart is looking too.

$ABNB has been a target for me since it announced it was going onto the S&P 500 in Sept and since we sold in July before earnings as there was a worry that it had climbed too fast and it would reject straight after earn...

$AAPL TOP 20

I think it seems appropriate to start this weekend's Top 20 List with $AAPL, as we have said many times before, when $AAPL moves, the market moves with it.

The $SPY and $QQQ declined just after $AAPL started its decline in late July, starting a chain of events that has lasted over 2 months.

$AAPL hit its 1.618 Fib, which is the perfect spot for Wave 3 and rejected from $198 to $167....

$MP - RC -

$MP's decline has been brutal which is very surprising for a company with such strong fundamentals but the chart is not aligned with the fundamentals.

Perhaps the market feels that the need for minerals is shifting or this could be completely mismatched and there is an opportunity here.....we will only know once it finds support and we can see some strength again!

There is a conflue...

$GDX - RC -

No changes to this chart.

It has been declining for most of the year and with the recent price decline in Gold, this is favouring the red Wave X here and and looks particularly weak, after rejecting at the 50 and 200 Day MA and now we have the 50 Day crossing down through the 200 Day MA too.

I have Wave X declining until June but as soon as it hits the yellow trend line it could rev...

$UPWK - RC -

Very distinct triple top here, followed by a corrective wave down.

We can see that it came very close to its Covid low too in May and has since been drifting higher.

Price is above the 200 Day MA now and testing it for support, a hold here above the 200 Day MA and the price can move higher with our impulse wave.

We want to see $PYPL and $ZM move like this too next.

$NOVA - RC -

I said I was signing off for the week but I am catching up on a few requested charts.....

So here is $NOVA.

This long Red Corrective Wave C has been in place since September 2021.

We can see that it lost the crucial support line at $12.50, which was holding support for nearly 2 years and once it was lost, it dropped quite aggressively.

$NOVA appears to be on track to tes...

Earnings Season

These are the most popular earnings reports each day for the next 30 days.

I will focus on adding these charts each day, in addition to our regular charts.

A strong season could act as a catapult for the market to push it higher. 

Signing off for the Week

The week ended as planned and for the first time in 2 months we have seen some real positive signs of the market reversing.

Many of the stocks we have been watching have come down to the test their crucial levels and have held so far.

There is still incredible value right now to buy: $ABNB, $AMD, $SE, $MGM, $PSA, $AMZN, $AAPL, $MSFT, $BABA, $DNA, $SQ, $ZM, $OXY, $PYPL, $CAT, $ONON a...

$SQ

I know many are eager to either add to their positions here or start a new position.

We have been watching this for awhile now and since it lost the blue line at $55, it has been on a fast track straight to the yellow trend line.

So we have been monitoring if it can hold the trend line at $40.50 or does it go lower to the bottom blue line at the covid low line at $31.

These ar...

$VIX

I uploaded $VIX at the start of the day and I said I was not buying this bounce above the 200 Day MA whatsoever and I think it comes down aggressively and the price will move down to the white circle by the end of the year.

Well we got the firm rejection and the price right now is below the 200 Day MA on the daily chart, so I hope this guidance was able to show our members that the market...

$ZM

$ZM with the potential double bottom here too like $DNA.

I can see three clear waves down since $76 too so if it is going to reverse, this time and setting in the market is perfect.

Good bounce so far as the market reacts well today.

I am still holding $ZM and see this area now as a very good risk v reward area.

$DNA

$DNA's double bottom has been great to watch, very positive bounce on the previous low line, which was absolutely needed to hold in order to save the structure in its current form.

And the price is just slightly above the 200 Day MA now too, we want to see it move above the 50 Day MA next at $1.90 and then there is very little resistance now in this Wave 3.

Very happy with what I am...

$OXY

3 very clear waves can be seen in $OXY's ABC count and the pull back came right down to inbetween the 0.618 and 0.78 Fib so this has every right to reverse from here.

I have just added $ABNB as the risk v reward favours the price down at this level and I really like the company but $OXY is another company that should be strongly considered.....I think the price of oil will continue to ris...

$ABNB

Buy Alert

Disclaimer:

Buy Alert means that I have bought this stock today, I am comfortable if the price goes lower to add again.

I have weighed up the risk v reward if the market moves now for Wave 5, I believe $ABNB is in a good position to move higher.