The Long Investor

$ASTR - RC -

It has been a few months since I uploaded this last and it hasn't been a good time for $ASTR, in my last update, I said that this needed to hold above the blue line as there is very little support underneath and so far it is staying consistently below this blue line and keeping below the blue 50 Day MA and at risk of going lower to the First and Second Targets.

It needs to recapture this ...

$AI - RC -

No changes to our chart here, it is bouncing as we expected for Subwave 2 in amber and needs to break above the blue line and previous high to confirm the  impulse wave, until that it is done, it is still at risk of moving down in 5 waves to follow our amber count.

$NIO TOP 20 UPDATE

I was asked to show where I think $NIO will be by the end of this year, if we take the long term chart (the 5 year projection chart) and assume that the bottom is in now and we are still waiting for Subwave 2 to complete at $8.44 at the 1.618 Fib, I have this running very well for the rest of the year.

EOY is coming in exactly at $30.

We can see that the price action just stopped sh...

$ARKK

No changes to $ARKK but it must be noted how beautiful this chart looks right now.

Wave 2 held the 0.65 Fib perfectly well and has moved well into Wave 3, using the 200 Day MA as support and watching the 50 Day MA cross the 200 Day MA to the upside.

These are all very important, bullish signals.

$ARKK has taken a massive hit over the last 2 years but the risk v reward here fav...

$DIS

We have seen $F and $COST hold their long wedge very well and tested it a number of times before breaking to the upside very aggressively, I can potentially see this happening here too.

I have a $132 Target by November, so there is a lot to gain if this can break out of the wedge.

The 50 and 200 Day MA's stand in the way now, just either side of the wedge trend lines now.

If t...

$BLNK

Is on watch now as it slightly raises its head out of this very long bullish descending wedge, no changes to the previous chart but I am bringing this to everyone's attention, as a potential breakout structure.

Targets above are as shown, first at $12.50 and second at $20.

The 50 Day MA next at $6.70 is the big test, a flip here to support and this has shown signs of reversing. ...

$MARA

In spite of all the noise and uncertainty, $MARA climbed exactly to our Wave 5 target today, attached is the chart from before. 

It is exactly at the 1.618 Fib now which is a common Fib level but this can also run to Fib level 2 as well, so I have added two potential scenarios here, either way, I believe the corrective wave will need to come next.

$IQ - Chart of the Week - COTW

In terms of reward v risk here, the reward far outweighs the risk.

The chart looks exceptionally good here  and not only has it held the 0.618 Fib for Wave 2, it has also held the 200 Day MA extremely well and above the 50 Day MA now too.

Fundamentally, the FWD PE is now at 11, with all green upgrades for the last year, this is rare.

$IQ is a buy and hold.

$DNA

Starting to get that pull back now after a very nervous moments, looking like it would not reverse but that 200 Day MA is a strong resistance level.

We can see that the 50 and 200 Day MA's are zoning in on each other which is a good sign, when the 50 Day crosses the 200 Day to the upside, this is a bullish signal, so lets see where the 50 Day crosses the Fib levels too, this may only come...

$RIVN - RC -

A breakout above the blue line and boy did it take off, just at the 1.618 Fib level we had expected it to go too but this got the squeeze today and has gone higher, let's hope it doesn't go too parabolic and loses shape now, $RIVN holders want structure.

So far, I see no issue with this eventually running to $22, then the real test comes.

$FUBO

Nice day so far and the big test next will be at the 200 Day MA on the daily at $2.32, a break above and it holds, this will be very bullish here and confirm our green impulse wave.

$TDOC

Looking very good here, a very well structured Wave 1 and Wave 2 here, above the 50 and 200 Day MA here on the 1HR too, just need this to go above $26.20 to confirm the upward trend further, which is a break above the previous high.

$PYPL

Breakout here from $PYPL from the bull flag after holding above the blue line, very nice structure here for more upside, I just need to see this go above $69 and we have our impulse wave confirmed, we don't want to see a rejection before $69 or this could go back down into the Buy Zone.

So far, this is in a good position to go higher.

$QQQ TOP 20

I think $QQQ will test this 1.618 level again today or Weds before going higher, the 1.618 level is where we always set Wave 3 and when the price goes above this level, this means it is extended, which is not a surprise since the NASDAQ has been looking extended for a number of weeks now.

I believe overall, this will continue to climb to $408 which is the All Time High Line towards the en...

$NIO TOP 20

Strong start to the week in the PM, brought on by an increase in production numbers on its previous month, however -17% down YoY. $TSLA also had a great quarter and the EV market is all benefiting from positive news so far today.

Following the green impulse wave now and has gone above the previous high in the PM, so we can confirm that this is in Wave 5.

Two things to note here now:...

$VIX TOP 20

The downward trend here confirms the strength of the market, next potential support level is at 11.46 which brings this all the way back to early 2020....before the market corrected heavily due to Covid.....so right now, the market is behaving as though the last 3 years did not even exist.

$SPY TOP 20

I think as long as $AAPL continues to show strength, the market will follow suit, $SPY held perfectly on the blue line which was the previous high from August 2022 and has bounced, so I have $SPY bouncing to complete Subwave 3 at $450 around the same date as $AAPL will, and then we get the pull back.

I think as long as $SPY stays above $431, this is very bullish and can see no issue why t...

$TSLA TOP 20

$268 level is back in play after that steller production number result and smashing estimates...if all EV makers executed like $TSLA does (even if they are at different stages to early stage EV start ups) we would have made a lot of money on our beloved $NIO by now.

A lot of conflicting views here on the chart, the 50 Day MA has crossed over the 200 Day MA which I have highlighted with a ...

$PLTR TOP 20

$PLTR pull back came down to between the 0.236 Fib and the 0.38 Fib and bounced, we need to see more price action to determine where this is on the corrective wave count.

The AI stocks, looked like letting off steam at the start of the week but recovered towards the end of the week, the trend for now is still downward for $PLTR and that parabolic move is still leaving a footprint, especia...

$NKE TOP 20

Slight miss on earnings but revenue and margins increased from their report on Thursday, the market initially did not like this report but $NKE recovered well as the overall market had a good finish to the week.

Below $103 and the count becomes invalid and certainly below $100, I believe this is at risk of coming down to our blue line and completing Wave C shortly instead of next year as ...

$MSFT TOP 20

Interesting set up here and it is similar to $SPY, it has pulled back but not enough for Wave 4 yet and did not come close to the 50 Day MA like other Mega Caps have done....but also it has broken away slightly from $AAPLs continuous trend while also rejecting at its own All Time High line, whereas $AAPL went straight through its own high with very little resistance and has continued to climb h...

$KO TOP 20

WHO's decision to possibly declare aspartame as a carcinogenic to humans is certainly a blow to $KO who have worked hard to try and move away from the image of selling flavoured sugar to people.

I suspect there will be crisis meetings right now to come up with an alternative to aspartame as we speak.

So far the chart structure is still in place but this catalyst has made the structu...

$INTC TOP 20

I think $INTC is testing everyone's patience as the chart is starting to look messy and murky.

Not a chart you search for with a clear set up and be confident to add a large position too.

For me, there are too many red flags and if I was going to buy any Semi company right now, I much prefer $AMDs set up as the count has been flawless and very easy to read.

$INTC is still stru...

$HD TOP 20

Very nice and neat price action here out of $HD and very similar to $AMD's set up too, in that it is likely in its ABC corrective wave now, the pull back from our Wave 3 target was very strong and in one wave, it found support at the 50 Day MA and has bounced since, I do not believe Wave 4 is complete now.

Another pull back to complete Wave C and this may be a good position to add or star...

$GOOG TOP 20

$GOOG held the 50 Day MA and the $SPY held its previous high level too, so for now, these companies are showing that they have found support, I believe that $GOOG has been the first company of the Mega Caps to pull back for its Wave 4....$AAPL, $MSFT and $AMZN have not done this yet.

If $GOOG pulls back and makes a higher low, we can expect the bottom for Wave 4 to be in now and go higher...

$GOLD TOP 20

I sparingly add $GOLD at the weekends because the chart just has not moved off our projection in over 6 months and doesn't look like changing course anytime soon either.

The 200 Day MA is at $1862 now and this should move slightly higher as the price action moves slowly down.

What we will be watching for in a few weeks is the 50 Day MA crossing down through the 200 Day MA and this w...

$F TOP 20

$F is a lot like the $COST chart I just uploaded, very short pull back to the 0.23 Fib and bounced well, so I believe Subwave 5 completes at the First Target and this should pull back for an ABC count as shown.

$COST and $F have the same fan base, boomers who have followed these companies for decades and are incredibly loyal when it reverses and we can see that a lot of buyers have been s...

$COST TOP 20

$COST pulled back to $516 and then took off again so I believe this Subwave 1 is not complete yet and we have not experienced Subwave 2 yet.

I mentioned before that any pull back is a buy here as the upside potential is a lot.

If you have not added, maybe waiting for Subwave 2 to complete is the smart strategy now.

When I see Subwave 1 completing, I will add the Subwave count....

$BTC TOP 20

$BTC is struggling to break above that previous high and hold but we suspect this is due to the Subwave 2 count needing to complete before it can go higher.

We saw that Wave 2 pulled back to the 0.38 Fib so it won't be any surprise to see this Subwave 2 pulling back to the same Fib level before going higher for Subwave 3 of Wave 3, which is usually the most aggressive move of an impulse w...

$AMZN TOP 20

$AMZN has been holding strong, along with $AAPL over the last 2 weeks while a number of mega caps and the market experienced a pull back. If this general pull back is complete, we should see $AMZN benefit from this optimism and generally the start of July performs very well historically.

The main concern for the market is when $AAPL does decide to pull back and we can see from our chart t...