The Long Investor

$TLT 20 YEAR

Getting very close to our Wave B level now, which was the previously low in October '22.

To consolidate in this ABC corrective wave, it needs to hold this level, we have seen lately that corrective waves have not been holding the previous lows, this is certainly weakness when this happens.

$TLT needs to hold $91.80 next in order to recover.

$SNAP - RC -

$SNAP turned out as expected in a corrective wave and with Wave Z of a corrective wave ending high, it is usually met with 5 waves down and that is what we are seeing here.

Very similar to the $COIN chart too.

50 and 200 Day MA have been lost too and we will start to see the 50 day MA move down through the 200 Day MA very shortly.

Likely in Wave 4 now before pulling back furth...

$ADYEY - RC -

I can see a lot of chat about this stock online and unfortunately I think the corrective wave is merited here, as a simple ABC correction right now, another stock going back to its Pre-Covid lows.

I do not know that much about this company compared to $PYPL, $SQ or $SOFI but my understanding is that they are closely linked and in a difficult financial sector right now. 

$PLTR TOP 20

Moving positively over the last 2 days and this is what we have been expecting for Wave B, so I expect this to continue regardless of the market and then a further decline for Wave C in this Wave 2.

Ideally anywhere between the 0.5 Fib and the 0.618 Fib at $13-$11.30 would be a good addition.

I am not seeing any break down of the structure either, so as long as it continues its heal...

$LULU

Has held up very strong this month, while many stocks have been struggling, $LULU has managed to hold strong and still in this ascending triangle, in Wave 3.

The magic number is a break above $395 and holding, until then, it can continue to work its way through this triangle until earnings on the 31st of August, I suspect after its report, it will complete its next direction.

$DIS

The momentum has been taken out of this stock for now and it may be down to DeSantis targeting $DIS again to rejuvenate his political ambitions, which is unfortunate for $DIS, as this is an easy target to make the new for DeSantis.

No changes here until $DIS can break out of the wedge, the blue line remains at $84.

People may start accumulating underneath this level.

$ZM

Double beat on from their report yesterday and earnings beat by 26%.

Price jumped up by 7 % at one stage last night, however analysts have came out today with refreshed price targets, although nothing worrying some have lower targets, the mean price target looks to be around $82.

We have Wave 3 set to $83, so this is in line with our target, which should bring us to the next earning...

$TSLA TOP 20

$TSLA bulls have come out swinging to protect that $217 line, which was the previous high in Feb and our blue line.

Price went up by 7% yesterday and already up 4% in the PM now....this may also be helping $NIO turn around too.

Number of catalysts have helped:

1. Price cuts again

2. Chinas renewed policy of helping EV makers to sell more cars.

3. Baird set an outpe...

$BABA TOP 20

The market took its time to weigh up the significance of the Chinese rate cut yesterday and eventually it decided that it was a step in the right direction and $baba finished green for the day.

Showing a good start in the PM today too.

The price is just at the yellow trend line now and just below the 0.618 Fib at $90, a good sign will be to see the price back above this level and ba...

$NIO TOP 20

I have added the 1hr and Daily chart today.

The main chart is the 1hr chart which we have been working off.

Yesterday the price came down to $10.54 and held and bounced. We have the 0.618 Fib at $10.50 so this is regarded a test of support and has performed very well since hitting this level....up now +5% in the PM.

Registration number came in today at 4100 today which is an i...

$ONON

I am seeing these shoes everywhere and apart from the shoe being stunning, it is also priced quite high and still very popular....in line with $LULU's apparel, this sort of cult following is an investors dream.

So we are happy to see this has pulled back after hitting the 2 Fib for Wave 5....which is the standard level to pull back from....if we can get an ABC pull back, like what we have...

$DNA

Continues to put in a good shift at this 0.65 Fib level at $1.62.

The impulse wave is what I am leaning towards here as it holds at this level.....any breakdown from this level and the structure weakens as we know.

We have been following this since the start of the year and there have been a few twists and turns but overall, it is a well structured Wave 1 and 2....just needs to cont...

$COIN

$COIN getting some relief at our Wave 3 target, a bounce is well overdue after getting disseminated over the last 5 weeks.

I do not expect this to be a reversal bounce but a relief bounce and the lows are not in yet.

$BTC continues to struggle too. 

$ZM

Earnings released after the close today.

It is expected to beat earnings today but only by a slight margin.....any significant beat and this could be the catalyst we have been waiting for.

It is performing well today but has not been performing well all month and declined with many other growth stocks.

It is a tough time to report earnings but this is all part of the process.<...

$BAC

It is not just $PYPL, $SQ and $SOFI that have been struggling lately, the large banking caps have also been hit hard, likely due to the 10 yr still being high. Concerns from the global market could be playing a big part here too.

We can see that $BAC has lost this Blue line at $29.30, those who have been here for a few months will know how important it was for this to be flipped to a supp...

$QQQ TOP 20

Off to a very good start here, continued its bounce today after a strong finish to last week, after holding at $354.

Performed well today as the Mega Caps are leading this recovery, $TSLA and $NVDA being the notable front runners.

The 50 Day MA on the 1HR has acted as a resistance level so far and it has been since this pull back was confirmed on the 2nd of August when it lost it as...

$LUV

Battled to maintain the 0.65 Fib and up until today it was doing well but has lost it today, so now our focus is on the 0.78 Fib which is on the yellow trend line, the last line of defence for $LUV.

We do not want to see this fall back into the channel again. As long as it stays on the outside of the channel at $30.80 right now, I am not too concerned.

$AMSC

Our superconductor potential company that we have been monitoring....obviously no news about how they getting on with their research but the price is holding above the 200 Day MA and we can see on this chart that it has been using this as a support level since May, as long as it continues in this manner, there is every possibility that this can run.

I would expect to hear news first about...

$PFE

I have added in a subwave impulse wave here, as long as we continue to see $PFE hold outside of the wedge.....any breakdown back into the wedge and the count is invalidated.

$PFE has been a slippery bugger and has many times tried to break out and has not held so have an open mind here.

I like how it is also above the 50 and 200 Day MA on the 1hr and we could see the 50 Day cross th...

$TSM

$TSM is definitely in a position to ride the positive Semi train if $NVDA smashes it this week.

Holding now, exactly like $AMD is at its Wave 2 level and we can see that $TSM is holding at its 200 Day MA too.

So I think the market is waiting to see the results of $NVDAs report and if it is strong and guidance is improved again, then this will likely follow $NVDA higher.

$AMD a...

$OXY - COTW -

A stock that probably should have been in my Top 20 list.

Pulled back in line with the market last week and held support on the 200 Day MA.

Up now again in the PM. A break above $66.50 and holding, which was the previous high in Apr '23 and the impulse wave is confirmed and we are into the bull case.

One of the strongest set ups out there at the moment and now this is the Char...

$MP - RC -

This is another stock that continues to feel the selling pressure and its fundamentals paint an entirely different picture compared to its share price.

We can see here that $MP has been moving down in a long ABC corrective wave, in this strict downward channel and the 200 Day MA has been parallel to the channel.

I expect it to reach the yellow trend line again if it does not hold th...

$RDFN - RC -

Some might see this and be troubled by the aggressive pull back since the highs at $18....but I am seeing a structured count. The impulse 5 waves up are valid and the ABC correction, although not easy on the eyes, it is also valid.

Holding the 200 Day MA now too at $8.55.

The important thing now to see is this holding support, ideally here is the perfect place at the 0.618 Fib, alte...

$LTC

I am not seeing an impulse wave with how this has moved since the low in 2020, there is no clear Wave 1 - 5 since then till the highs in mid 2022, so I suspect this corrective wave will move sideways for the foreseeable future.

Support Blue line is in the middle at $31.85, where the price is at now, losing this support line will be quite bearish, as it has not been lost since April 2020.<...

Top 20 List - Updated - Please save.

1. BABA

2. PYPL

3. SE

4. DIS

5. COST

6. BTC

7. INTC

8. AMD

9. GOOGL

10. AMZN

11. AAPL

12. NIO

13. PLTR

14. NKE

15. MSFT

16. TSLA

17. ABNB

18. SPY

19. QQQ

20. F

Removed: 

KO

HD

VIX

Gold

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$VIX - Former Top 20

We can see how volatile it has been over the last 3 weeks by looking at how the $VIX has behaved since the start of August.

It slightly broke out of this trend that it has been in since Nov '22, the last time it broke out was in March during the very short lived banking financial crisis of '23 and quickly resumed back down the channel again.

The trend breakout line is $17.90 and the...

$BABA TOP 20

Just something I have been observing on this Inverse Head and Shoulders chart for $BABA......we can see that a smaller Inverse Head and Shoulders pattern is also forming on the right shoulder too.

We will see how the market treats the interest rate news today for $BABA but this is something I am watching too.

The mean for $BABA is certainly at $120.

Buying below $100 is buying...

$NIO TOP 20

On Friday it was showing red across the market in the PM and with $XPEV missing on earnings and $TSLA continuing its decline, it was going to be a difficult day for the industry, coupled with more concerns from China.

So we planned our levels to watch for. $10.50 is the 0.618 Fib and $10.20 was both the 0.65 Fib, the 200 Day MA and the yellow trend line....we said that $10.20 needed to ho...

$SPY TOP 20

$SPY is starting to catch up with the $QQQ, as we can see that just about every stock is feeling the pressure at the moment.

This is why we only buy undervalued stocks, so that even if they pull back, it is an opportunity to add....especially when the pull back is due to the market sentiment and not the individual companies fault, $ZM being a perfect example.

I have not been concern...