The Long Investor

$ABNB TOP 20

$ABNB is not like the Mega Caps, which are showing that they are entering Wave 5 next, this is showing that it is in the middle of Wave 3 now....so this is in an attractive position.

It is also in a triangle and has been holding up well and found support so far at the 0.618 Fib at $133.

A breakout of this triangle and holding above is positive and bullish, as it will be above the 50...

$AAPL TOP 20

This is a very good example of a strong confluence level at this Wave 4 point, circled in white.

We have the 200 Day MA here

We have the price between the 0.5 - 0.618 Fib levels

We have the yellow trend line

We have a corrective wave and can clearly see 3 waves, ABC

It is the start of October now, historically a bullish month.

And we have the price not infrin...

$LCID

A lot of chat in the Telegram group about $LCID and some members have bought.

It has jumped 10% since bouncing at the blue line at $5 ($4.97 to be exact) so the target was reached!

The Market Cap is still quite high for $LCID considering their delivery numbers but Americans will buy this over Chinese EV's so it demands a higher premium....unfortunately.

So let's see how the b...

$ONON

At one stage $ONON was up 10% yesterday, outpacing $NKEs performance, even though they had not reported....but this is down to their market cap and nothing else.

Finished the day at 6% up which is a significant chance of direction of late, same with $NKE.

$ONON I believe have been trying to expand into Asia, so an indication that sales in China for $NKE have improved has certainly h...

$SKX

$SKX got a nice bounce on the back of $NKEs positive earnings report yesterday, $NKE recovered very well on the strength of their sales in China, where many believed were not showing much recovery.....but sales results are more important than opinions on Twitter.

So there is no changes to the chart here and we still may see a further pull back to the white Fib levels, focusing on the 0.5 ...

$PSNY - RC -

$PSNY has been beaten up more than most EV growth stocks and it is hard to believe considering, they are already selling cars, they have the banking of Volvo and their P/S: 0.47.

So although they have a lot of work to do as they grow and to become profitable, they are not in a bad situation and I would prefer $PSNY then some other EV growth stocks in the US.

5 waves down in red is e...

$BA - RC -

Boeing has pulled back with a lot of stocks since the first week of August and in line with airline stocks too....in spite of its first earnings beat in 2 years.

Subwave 5 was not particularly long but still valid and we are in an ABC corrective pull back now for Wave 3.

I think there is still more to go to this pull back and fans of $BA should be watching between the 0.5 - 0.618 Fi...

$XBI - RC -

SPDR Biotech ETF: No changes to this requested chart, it has pulled back as expected and working its way through this downward channel, in what we believe is a A - E wave count, interestingly enough, the pull back for Wave D is exactly at the 0.78 Fib, so this is giving hope to the Bulls that if the price can break above the channel, it is into the Bull Case and it can go a lot higher.

So...

$MOS - WATCHLIST -

$MOS continues to hold the important 0.618 Fib above $35. The risk here remains getting above the 200 Day MA which is at $42 and will also correspond to testing the top wedge trend line too.

Breaking above this level is the big test. A hold above $42 and we are into the Bull Case and Wave 3 is confirmed, so this is still on the watchlist for me and I am monitoring it closely and will keep...

$VET - WATCHLIST -

If you believe that you have missed $OXY's run and still want to get in on an energy stock, that has a lot of upside but over a longer period of time, $VET may be suitable for your portfolio.

I like the chart here and how Wave 2 looks to have held at the 0.65 Fib and the price is above the 200 Day MA now too.

Energy stocks will likely drift higher as the price of oil continues its c...

$UPST - RC -

Remarkable that $UPST has held the 200 Day MA and our blue line and there is no changes to our chart here.

This is a corrective wave bounce now and still a high risk play here but the chart is following our projection very well.

Will need to get above the top blue line next which is at the 50 Day MA at $37.

$PDD - WATCHLIST -

$PDD is also like $CAT, it has behaved very well over the last 2 months, in spite of a short attack too and is in a strong position to benefit from a move to the upside with a positive move from the market too.

It needs to hold above $100 and this can move all the way up to $193 for Wave 3 next over the next few months.....$BIDU is looking similarly strong and $BABA has the potential too ...

$CAT

$CAT has been a pillar of strength this month and has had no problem holding above its blue line for support and the structure has not changed in the slightest.

Another stock that rallied in October last year too and this would correspond to a move up for our Wave 3 too to $372 next.

$CAT does not get mentioned by anyone in our group, even though it is one of the strongest looking s...

$PFE

Moving well today but still firmly in this downward wedge which has been in place for exactly a year now....we can see in October 2022 that this jumped from $41 to $56 in the first week of October.....in line with the seasonality highs and the start of the winter season and exposure to a possible increase in covid cases.

I think this has held $PFE down and I am genuinely surprised to see ...

$ARKK - RC -

$ARKK is probably showing the best example of an ABC count (in amber) when Wave C ends high and then is followed by 5 corrective waves down (in red). It is perfect.

The 50 Day MA rejection at the start of Sept showed the weakness and then the price lost the 200 Day MA.

It is not clear whether or not the 5 waves are now complete but I can see 5 clear waves now, the question is whethe...

Zoom Call Q&A

I am considering a once off Zoom Call Q&A for all members when the 9 lessons on Elliott Wave Theory is complete.

Is this something that you would all like?

The Zoom call will allow all members to ask questions on what we have learnt from the 9 lessons uploaded.

$PTON

Up 20% since the news dropped that it was joining a partnership with $LULU which I think is a great fit for both companies.

I said that $PTON needed to collab with one large apparel company and we spoke about $NKE being a great fit here and I believe that $NKE has missed a trick here, considering how cheap $PTON is going for now....I believe this premium product would have fitted nicely i...

$EL

Is all the way back at its March 2020, Covid Low, remarkable position to be in for such a strong brand, similar to $DIS.

Still in this large wedge and as part of an overall ABC correction.

It is hard to imagine this going a lot lower, a reversal is due but when that comes is unknown, it needs to show strength first and a move sideways would be welcomed here too.

EPS is expecte...

$DXY - DOLLAR INDEX

$DXY moves slow, so we need to view this on the weekly time frame to see the big picture here.

I believe this bounce since July is only a relief bounce and we can see that the bounce has come up to the 0.5 Fib at $106 so far, it may go higher to the $108 level but ultimately this is going down.

The Value of the dollar will continue to depreciation since its peak in 1984....this year...

$DNA

6%+ day again for $DNA, buyers are definitely present and stepping in on pull backs....this is a good sign.

Holding the 0.78 Fib very well above $1.75 too.

The next test will be attempting to get above the 200 Day MA again at $1.92, which it did attempt this week but I believe the weakness of the market stopped any potential reversal......it did move ahead of the market this week an...

$FSR

$FSR has been having a good week and recovered extremely well after testing the ascending triangle support line this week and above the 200 Day MA here too.

We know the important line is the blue line at $6.41.....it has been the vital resistance/support line that needs to be flipped for this to turn bullish.

The price is just there now so we know that a test is not enough, we need ...

$BABA TOP 20

$BABA hasn't moved much this week and that is probably not a bad thing....working well in the PM right now as the market is showing early signs of shifting positively.

I know a few members have been adding here during the week on this pull back and I get the strategy, as it has held the 0.78 Fib at $83.25 and this is a common Fib support level at the moment.

What we want to see next...

$META

$META released a new product this week, augmented Sunglasses that effectively work as an AI Bot on the glass screen, I watched the presentation from Zuckerberg and I was definitely impressed and I think they are at a competitive price too at around $300.

That being said, the chart here makes me uneasy, the climb from $90 to $326 has had no meaningful pull backs, apart from the A - B amber...

$TSM

We are watching $AMD very close but it is worth keeping an eye on $TSM too, if this is the Semi company you prefer over $AMD, $NVDA or $INTC.

So far it has lost the 200 Day MA but has so far found support on the 0.5 Fib at $85.

This is a perfectly acceptable level to hold at to complete Wave 2.

This chart does look weaker than $AMD, as $AMD has now bounced at the 200 Day MA an...

$MGM

$MGM has been holding the 0.618 Fib level very well so far and it has been tested twice.

It slightly recovered from the Cyber attack and then hit with a potential workers strike by strip workers during the week, halting the recovery but still managing to hold the 0.618 Fib at $64.

The chart does look very good here and attractive. $MGM is likely going to benefit from a large windfal...

$ZM

$ZM has been feeling the heat like every stock this month but still holding important Fib levels and managed to hold the 0.78 Fib level at $66.34 for this pull back.

We know the plan here, we want to see this hold on the outside of the channel (at $71 now).....so if the market decides to reverse shortly, this will likely benefit from that reversal too and buyers frantically look to underv...

$NIO TOP 20

Another interesting day yesterday for $NIO. On Monday, there was a rumour falsely shared that $NIO would need $3 Billion and then yesterday, a 3 week old rumour surfaced again about a potential partnership with Mercedes...and this was shared by a number of reputable outlets too.

We will treat rumours as they are, rumours until verified....but it is safe to say we prefer the second rumour ...

$OXY

Continues to perform well and go against the market decline this week which I am very grateful for.

Strong bounce off the 0.38 Fib and comfortably above the 50 and 200 Day MA now, a break above the previous high at $67.70 and we have the upward trend resumed.

I believe this continues up to our Wave 3 target at $81 this year.

$AMD TOP 20

Nice bounce off the 200 Day MA at $94, which is on the daily chart, the above chart is the 1hr chart. I added this chart because I want to show you the resistance levels above because a break above these levels is bullish.

First is the 200 Day MA at $104, next will be breaking out of the channel at $106. A clean break above $106 and this holds and this is looking very strong.

So far...

$SE TOP 20

Happy with what I am seeing with $SE so far, I am seeing 5 small waves since bouncing from $35, so this is a good early sign that we are seeing the start of an impulse wave, if we got 3 waves, then this would be a corrective wave and we would see another low next.....so this is still early days and we could still see a pull back to test support shortly but happy that we are seeing strength here...