The Long Investor

$BABA TOP 20

It has not been pretty but $BABA has bounced where it needed to....at least in the short term and the impulse wave is valid.

We can see that there was a strong confluence level where the yellow trend line crossed through the blue line and the price action hit it exactly, it needed to bounce there and it has and the price is above the 50 and 200 Day MA in the PM now, we want to see the pri...

$NIO TOP 20

$NIO was testing the trend line last night into the close and we can see in the PM now that it has broken out and receiving a much needed bounce.

We are in a situation now where Wave 4 is valid and the possibility that this could be a bounce and pull back lower to complete Wave C, which would complete its Wave 2 count (this is not on the chart, so not to confuse things)

So we will ...

$QQQ TOP 20

Remember folks, it is all just part of the plan.

Look at how identical Wave 2 and Wave 4 are moving, even to the initial bounce in Wave 2 and rejected trying to get above the previous high, this happened in Wave 4 too.

So I will be watching for the 1.27 Fib to hold, it really will depend on how weak the market continues and if the momentum is finally gone.

These are the target...

$PLTR TOP 20

$PLTR was a rare green today and holding the 0.38 Fib line very well.

It needs to complete Wave B before finishing Wave C and starting Wave B at the 0.38 Fib is the perfect spot.

I would be lying if I said I wasn't enjoying this pull back and a chance to add $PLTR when it hits our Wave C target between $13 and $11.32.

Pull backs are a Long Investors dream.

$JBLU

$JBLU and $LUV have done very little today apart from hold support and move sideways, another two stocks who are doing their best to manage this turbulence (ahhhh)...jokes aside, $JBLU and $LUV do not concern me in terms of how vulnerable they may be, they are two stocks that are very low in terms of their real value and when the conditions are right, they will recover.

What I would like ...

$GPS

Holding well and moving sideways while other stocks are declining so holders here must be happy with what they are seeing so far, as long as this stays within the parallel lines for wave 4 of Subwave 3, there is no concerns and the count is valid.

$BTC TOP 20

Although $BTC has not started its Subwave 3 move yet it has also barely moved along the 0.38 Fib level too.

Possibly a show of strength during difficult market conditions which is a good sign overall that $BTC could be a hedge.

The 200 Day MA is still at 0.618 Fib, which is where we have our Wave 2 target, I would not be against this idea of storing cash in $BTC if it comes down to ...

$META

Is right on the 50 Day MA now on the daily chart, we can see that this level has already been lost on the $SPY.

I am wondering if $META can sustain this price after a very unstable climb up from $87 to $300+. 

The 200 Day MA is all the way down at $206, which shows just how aggressive this has climbed over the last 10 months.

I have maintained my view on this chart and I ...

$DNA

Exactly at our Wave 2 level now but caution must be advised at the moment.

The market is on a knife edge and it is difficult to see many stocks turning around now and starting Wave 3.....especially not a stock like $DNA which is considered high risk.

I am not buying anything at the moment until I see support held and I am strictly looking at undervalued stocks now only when I do dec...

$F TOP 20

$F is in the golden ratio now from the highs and low of the last 4 years, shown by the white Fib levels on the chart here.

This point is also near the tip of the wedge which $F had broken out of and pulled back into now.

$11.70 is the low level of this area and the share price has been on an aggressive decline since the end of June.

RSI on the daily is at 20 now.

This is...

$BABA TOP 20

Price has not held the 50 or 200 Day MA, after holding well for the day yesterday.

Troubling news continues to flow out of China and the worry of course is that we know the economy needs help but we need the Chinese policy makers to come to the rescue.

Let me be clear, the US's situation in Feb/March, with extreme high inflation and regional banks collapsing and not being able to us...

$SE TOP 20

$SE is in pain territory and in the bear case now below the blue line after not holding the blue line at $40.61.

Did $SE deserve to lose $9 Billion in market cap yesterday for a decrease in revenue of around $70 million in one quarter?....I don't think so.

YoY revenue was up overall.

The next support level is at $33.38, we can see that the 0.78 Fib was on our blue line as well...

$KBRN - RC -

Carbon strategy ETF is in a tightening wedge since the start of 2022, this wedge could continue until 2024, only when the price has broken out of this wedge can we determine what is next.

A break to the upside and this move is in line with an impulse wave.

I do not expect this to move fast and we can see on the time scale at the bottom of the chart, it will take a number of years be...

$NVO - RC -

Very similar chart to $LLY, continues to make some bullish moves and comfortably above our blue line here.

The extended 3.618 Fib is at $217 and I suspect that this will continue its trend and test this level next, this is a high extension, so it would be a typical spot to see and ABC correction after this point and I have Wave C coming down to the 0.5 Fib next at $112.

$LLY - RC -

Getting into extended territory now for its Wave 5 and we can see some parabolic moves too.....possibly on the strength and popularity of their weight losing super drug, speaking to a doctor recently in Ireland too and he said that 33% of all calls he receives now are about this drug.....so it is certainly translating into sales in Europe, as well as the US now.

This has run from $100 to ...

$RVLV - RC -

Hard rejection at the blue line from below after testing it, lost the 50 and 200 Day MA on the daily chart so I suspect this will continue its trend down to the first target.

It is possible that support is found at the first target at $13.40 but will need a positive earnings to hold this support.

A negative report next will bring this down to the second target at $8.

$NIO TOP 20

$NIO continues to be controlled by this strict downward channel and any attempts to hold support is dropping in each PM and this then controls the direction for the day, this has happened 6 times now throughout this pull back.

First big test will be the 50 Day MA on the daily chart at $10.90 right now.

The second test for support is the 200 Day MA on the daily chart at $10.20 now. 2023-08-16 12:12:06 +0000 UTC View Post

$PLTR TOP 20

This is keeping strictly to the plan here and it is a stock that our members love and would like the opportunity to add or start a position when it completes Wave C.

Nobody would have an issue with seeing this pull back more, especially below $13 because they know the value is there for Long Term.

So let's adopt this mentality, we want to embrace the pull back and buy when the stock...

$SOFI

Into its second tight descending wedge here and in between our blue lines which have been support and resistance lines in the past.

Once the price can stay above the blue lines, the count is still valid.

The descending wedge here is very very tight, this formation is bullish and we can see enormous selling pressure on $SOFI, $PYPL and $SQ, a relief bounce is due.

We are being ...

$FUBO

Still no bounce yet for Wave B and very little has been bouncing at all so there is a possibility that a relief bounce will come soon during this market correction.

Still too early to re enter here for those who sold during Wave 5, will need to to complete Wave C first.

$DNA chart is a good example of what to look for here.

$FSR

Has been feeling the pressure like every stock at the moment, especially in the EV sector.

But a positive news was announced today that $FSR now has access to $TSLAs charging grid all around the US.

Another lean saving for $FSR.

$FSR needs to focus on execution of production numbers now and the rest will sort itself out.

In a bull flag now on the daily chart, like a lot ...

$PYPL

A lot of interest here so it is good to keep members updated on this, even as it struggles to find support.

If this loses its previous low at $58.95, the cycle starts again, I suspect it will happen at the blue line at $58 exactly or on the red trend line at some stage.

For me, this is a sleeping giant and it is only a matter of when for it will break out of this wedge.

When s...

$NIO TOP 20 AGAIN

In the strictest of channels down here on the daily chart and has not stepped out of this channel to the downside or upside since it has started.

I am ok with this.

Uploading this chart so we can see where the 50 Day MA is (blue moving line) and we can see it is at $10.90 here and the 200 Day MA is at the trend line at $10.20.

Does it feel good to have such a strong pull back?...

$LUV

Pulled back to $32.86 today and the 0.65 Fib is at $32.85, so behaving very well here, in spite of a lot of red and uncertainty.

What I like the most about $LUV is how it has held above the trend line and Wave 2 has so far pulled back to the white Fib at 0.65.

This is two strong support lines and in line with what we expect.

It needs the right settings in the market now to sta...

$SPY TOP 20

$SPY is still managing to hold onto the trend line and the 50 Day MA from above....unlike the $QQQ which has lost the 50 Day MA and testing from below....so Tech stocks are taking a harder hit as we expected. Remember we have the $QQQ in Wave 4 and the $SPY in Subwave 4 of Wave 3.

As long as the $SPY stays above the trend line and 50 Day MA, as they move up from $443, this could limit the...

$RIVN

$RIVN chart is almost identical to the $NIO chart, very strong pull back and we cans see that every car manufacturer is experiencing this right now.....from $TSLA to $LI.

Remember have the blinkers on and going down a tunnel vision is not where you want to be. Your stock is important to you because you own but the market does not care what your average price is and what stock you own, whe...

$ONON

Has missed on their earnings and down -63% on their EPS and the market correction has not been kind, -16% today but we can see on the chart that Wave 5 hit the 2 Fib, which is the standard level for Wave 5 and now it is straight in its Wave A corrective wave.

The 200 Day MA at $25 may offer support here for Wave B before ultimately going lower to complete its corrective wave C AT $24.

$QQQ TOP 20

Remember where we are in the market, just more than half way through this correction, for weeks we have been saying that this is coming and even while we are in the correction, we said that this will continue until the end of the month......but I see some members are surprised by this.

On the chart, the 50 Day MA on the daily has been lost and has been retested from below and looks to be ...

$DIS

On the 1hr chart here and $DIS has dipped back into the wedge again....no company is safe right now and they must all ride this storm until it passes and you do too.

Staying outside of the wedge will show signs of reversing but until that happens, it will need to find support inside the wedge next for $DIS, support levels are at $87 and $84.

$BABA TOP 20

Price has now pulled back to the 0.887 Fib and still trying to find support.

This is the daily chart and we can see that the 50 and 200 Day MA is just below at $91.

This is a double support level, if $BABA is going to find support anywhere, it will need to be at this level.

We can see that the blue line is slightly lower at $88 and has been an important bull/bear case line for...