The Long Investor

$AMZN TOP 20

Sitting on the 50 Day MA after testing from above, it is still the healthiest looking Mega Cap Stock, along with $GOOG....both of these prices have not really changed this week.

It is also the one stock I would love to see decline more but it is showing a lot of strength.

Stocks that are maintaining their prices over these two days are giving me more confidence in them and their le...

$VIX

In spite of what appears to be a volatile week, last weeks performance has been recorded as much worse, we can see on the chart that the price stopped out at the 200 Day MA, just outside the the downward channel on Friday and has been declining since.

I have gone through a number of charts today and the majority of structures remain the same and prices are just back at where they were at...

$DIS TOP 20

Right now has broken down from the wedge, many believed this was not possible after their earnings when it initially broke out of the wedge to the upside but we are into the bear case now and another reason why I did not start a position here.....however tempting it was.

I believe the deeper this goes, the more value you will get.

My Wave C target has never chanced and I have it s...

$AMD TOP 20

From $111 at the opening to $101 now, this was a wild swing and now made a new low too, hovering around the 0.38 Fib now which is certainly weakened.

We can see that the 200 Day MA is coming up from below and heading for the 0.5 Fib at $93.65. So if $102.94 on the 0.38 Fib can not be recaptured, then the 0.5 Fib is the next level to watch.

I suspect the market will need a few days ...

$SPY TOP 20

$SPY getting stopped out at the 50 Day MA which is also the yellow trend that has been here since November '22.

We will be watching to see if we get 3 Waves up here for a Wave B, if this is the case then we can expect another leg down again to complete Wave 4 before this can go higher....meaning, the pull back is still not over.

So far $NVDA has not saved the market and is not liv...

$FSR

I think $FSR has got to be the ultimate test of patience.....and this is coming from someone who is holding this 3 years now.

It just never gets wild jumps or wild declines.....a bit like the Irish weather.

Nice move yesterday however but stopped out at the 50 Day MA on the daily chart, it is still moving very well, making higher higher and higher lows in this possible impulse wave....

$SPLK

I highlighted this chart about 2 weeks ago, to show that it was forming an ascending triangle, the price came down to the 200 Day MA and after yesterdays report, it bounced incredibly well and popped out of the ascending triangle in the PM. 

Once this holds above $112, it is in the bull case and Wave 3 impulse wave is confirmed and I expect this to go a lot higher to $155 by the end ...

$BABA TOP 20

Very happy to see that the market has acknowledged China's positive steps (although slow) to help the economy and their industries.

I like seeing that the Chinese policy makers are now working with the Big Tech companies and realising that they both need cooperation with each other to both prosper....China policy makers grew wary of Big Tech a number of years ago and this did damage their...

$PLTR TOP 20

This is going perfectly to plan here, Wave A is complete now and we are bouncing for Wave B, another 4% up in the PM now after the $NVDA report, this should bring this up to the 200 Day MA and the blue line between $16-$17, it could bounce very well and go higher but I still think it comes down to complete Wave C, which then completes Wave 2...this is shown on the chart.

I would be very ...

$NIO TOP 20

A clear flattening out now, compared to the downward trend, where it was constantly bouncing and then would fall lower. So far, it has bounced 3 times now on the important 0.618 Fib at $10.50, with the third time hitting $10.50 exactly and bouncing....positive movement again in the PM too.

The market has certainly reacted positively to the $NVDA report, all eyes are on the opening now to ...

$MOS

Another company I have been watching in the background and has been following our chart since the last time I uploaded it.

It is something for us to look forward to in a month or two as a potential buy as it starts its Wave 3.

I want to see it pull back more to the 0.618 Fib at $35.

So far the 50 Day MA is acting as a support level, however considering that this Wave 2 is quit...

$KWEB

In spite of the negative noise directed at China, $KWEB is holding up considerably well and in a strong position to take full advantage of any movement to the upside.

It is behaving in a controlled manner and although it has been moving sideways lately, considering the concerns, this is perfectly fine.

The 0.618 Fib is being used as a support line so far.....likely the market contin...

$JBLU

Testing the bottom blue line again and so far held but the price is still below the 50 Day MA on the 1hr chart.

It needs to build on this momentum, losing the bottom blue line will not be healthy.

We can see that a lot of the other airline stocks are outside of their yellow parallel channel, most notably $LUV, this is where $JBLU needs to be to get out of the danger area.

So ...

$COIN

Getting that Wave 4 relief bounce now and above the 50 Day MA too, we have Subwave 4 topping out at at the blue line at $87.50 and it looks like the 200 Day MA on the 1hr chart will meet the price action at this level too.

This may give people a chance to get out of $COIN before its next move down.

$DNA

Another good day for $DNA, held on the 0.65 Fib 4 times and has taken off since, up 7% so far today.

The more a price can hold support, the stronger the support line is.

Certainly signs of reversing here and we will know more in 1 hour after $NVDA reports but this is off to a good start so far.

Above the 50 Day MA now, likely still in Subwave 1 of Wave 3 now, so many member ma...

Opportunities

A number of opportunities I am watching at the moment:

- $ABNB holding above the trend line and at the 0.618 Fib at $123.50

- $F holding its level now between the 0.618 Fib at 0.65 Fib, above $11.70

- $AMD is looking good leading into $NVDA's earnings....also $TSM, very strong.

- $DIS offering value again back in the wedge and getting close to $84.

-$ZM stop loss ...

$M

Macys reported yesterday and has suffered a strong decline since, analysts also came out today and lowered their price targets for $M too.

However the targets are still above where the price is now, the mean target is around $17.

This chart has not changed since the last time we put this up a number of months ago, we can see that I had Wave C coming down to the 0.78 Fib at $11.50. 2023-08-23 14:37:31 +0000 UTC View Post

$FUBO

I know a few people are waiting to get in on this because it has pulled back to the 0.618 Fib and its looking to find support now but there is no clear Wave B bounce here, it is in the same situation as $PLTR right now, it showing signs but not confirmation yet.....it is very difficult for even a relief bounce to come right now for many stocks.

I prefer to buy at the end of Wave C and not...

$SMCI - RC -

Interesting chart here as we lead up to the $NVDA report, we can see that this hit EXACTLY at the 4.618 Fib, remember earlier, I mentioned that I have never seen a stock extend past this level......and has rejected very aggressively.

Likely in its ABC corrective wave now and it is badly needed.

This has shot up from $34 to $355 in 14 months....a 10 X jump, is this sustainable? of co...

$WTI

The last time we uploaded this ticker was in Jan, 8 months ago, we set a projected path, which mimicked a previous path, we can see that this is following the projection incredibly well and it is something to be mindful as we approach the next 8 months, if the price continues to follow this projection, it may drop dramatically in the new year.

$RIVN - RC -

Almost identical to the $NIO chart, pulled back very aggressively and so far $RIVN has found support just above the 200 Day MA.

It may consolidate sideways, which I think would be a good scenario for both $RIVN and $NIO.

Losing the 200 Day MA is not a good sign and it can enter the bear case again if this happens.

This ran from $11 to $28, as $NIO ran from $7 to $16, so they a...

$SPY TOP 20

I uploaded a Morgan Stanley chart to the Telegram group last night where they spell out the worst case scenario.....possibly if $NVDA brings down the market later today and its in line with our Top 20 updates over the weekend.

Most beat up stocks are edging closer to the 200 Day MA and so it is likely a spot where the $SPY will retrace to if the market takes a terrible turn, THIS IS THE W...

$NVDA

Todays the day, report is due after the close today.

And the chart is a mixed bag but the impulse count is the clear count here.

First of all, Wave 3 in Green is valid up to $601 because it extends to the 1.618 Fib, which is taken from using Wave 1 and Wave 3, perfectly valid.

However, this Wave 3 itself is incredibly stretched, by using the same metric as above, Subwave 1 and...

$PYPL TOP 20

Positive day yesterday for $PYPL amongst a difficult day for the market. We won't get overly excited about it just yet, we have been here before but its movement is something I am happy to see.

- Bounced so far on the red trend line.

- Still in the buy zone

- RSI is showing a bounce in the oversold territory, last time this happened it ran from $59 - $76

- MACD is showin...

$NIO TOP 20

Bit of a rollercoaster day yesterday, looking at +5% in the PM and finished the day red but had a slight pull back to try and salvage the day.

However, we are seeing some flattening out again at the $10.50 at the 0.618 Fib level, second hold at this level yesterday too.

On the 1hr chart, on the RSI and MACD, we can also see that the momentum is starting to round out and move towards...

$DAL

$DAL has pulled back substantially here and it is another stock we bought heavy in at $31 and sold before earnings and the market pull back at $48. This needs to hold above the blue line at $40.50 now, otherwise the impulse wave is invalid.

If it can hold here, I would be interested in starting a position here again, along with $ABNB holding its trend line level.

Both are good compa...

$ABNB TOP 20

$ABNB is being a flirt there, holding exactly at the 0.618 Fib and on top of the trend line...likely this will test the 50 Day MA next at $128.50, a break and hold above this level and we could start seeing signs of this reversing and whats next is the beautiful Subwave 3 of Wave 3.

$ABNB has been kind to us already, we bought heavy at $104 and sold at $145 before earnings, proving to be ...

$SPCE

As you all know, I don't condone risky plays and would never dream of recommending a stock that is valued at over $1 Billion and not taking in much revenue yet....this is purely an exercise to show how this chart has been behaving.....I am also a massive fan of Richard Branson.

Price is sitting on the trend line now and has held a number of times and approaching our Wave X spot....take fr...

$WBA

$WBA chart has not put a foot wrong and is on course to our Wave 5 target at $22.

$CVS also has taken a hit lately as companies are considering $AMZN now as their main distributor, it is up to these companies not to be stagnant now and must adapt because they will not out compete against the conglomerate that is $AMZN.

They have healthy books and strong brands, they need to turn thi...

$V

While a number of banking and financial stocks have suffered lately, $V remains quite strong and stuck to our impulse projection.

There was a hiccup just after earnings report because it was only a slight beat in July....but the price has now continued on and it has barely made a dent on the chart....this is something to consider around earnings season, it is always best to zoom out and s...