The Long Investor

$INTC TOP 20 UPDATE

It is good to see that $INTC did not get carried away after its earnings bounce and is behaving as expected, I think it is still to early to say that Subwave 2 is complete but I am certainly waiting now for this to move down the corrective amber wave before considering a position.

$VIX

Big move today, breaking through the channel trend line, will watch now to see if it can hold above this trend line now.

This move went straight through the 50 Day, 200 Day, 2 resistance lines and the trend line channel....so there was a lot of strength in this and the market is having a difficult day. 

The signs have been there for a break out, Interest rate decision will be o...

$SCHW

Same goes for $SCHW as it does for $BAC, it has not bottomed yet and there haS been higher concerns for $SCHW compared to $JPM and $BAC.

If Wave C can not hold, I will be watching for the Blue line next for support. A substantial decrease on where it is now. 

$BAC

Being perfectly disciplined here, ever since the H&S had completed the top of the right shoulder, this was only going in one direction and a lot has happened since then.

I am watching this closely, my position is still the same, if we can buy at Subwave 5 here, it will be a very nice long term hold.

$ABNB TOP 20 UPDATE

Yesterday I added this chart to alert the potential breakout, it did raise its head outside of the bull flag but we always look for confirmation of a hold above the trend line, this is a perfect example of a stock NOT holding after breaking out, failed to hold and then dropped back down into the bull flag again.....as the WXY wave moves through Wave 2, it still looks valid at where I set the Wa...

$NIO TOP 20 UPDATE

Monumental day as we just slightly dipped into the buy zone today after waiting patiently for this moment for awhile now, we trusted that this moment would come and I am happy to see that this has happened. I will watch this throughout the day to see how it develops and consider a position, the MACD is leaking very weak and trending bearish on the 1hr, the RSI is just sitting at 30 now.  2023-05-02 14:41:41 +0000 UTC View Post

$COIN

Yesterday we spoke about $COIN reaching the apex of the wedge, shortly after I posted, it broke down and had a difficult day, into the invalidation area now, I am watching the red line now and so far it is acting as a resistance line, having flipped from a support line previously.

If it can stay below this line, our Wave B in red is the likely spot next, would be a very attractive price a...

$PLTR TOP 20

It has been a tough opening for the market but $PLTR has been struggling more than most lately and the impulse green wave count is coming close to invalidating, red line next to test and then blue line at $7.13. I would be recommending to wait now until this bleeding stops before considering a position, buy zone seems likely now.

$DRV - RC -

Held the previous low line so far and bounced, this would need to get above the 0.65 Fib above next, then it has the 50 Day MA and the 0.618 Fib level, all three are potential resistance lines but if the price action can break out through these levels, it is looking good then. Likewise, losing the previous low support line and the 0.78 Fib support level is below as shown at $41.59

$MD - RC -

Three negative earnings in a row has brought this down quite low and down leading to its earnings due tomorrow morning. If the earnings are good, it could hold the 0.78 Fib line it is at now and possibly bounce, a negative earnings again and this goes lower, possibly to the 0.88 Fib at $10.60. the Blue line is the previous low support....ultimately, it will need to hold this level or there is a...

$MELI - RC -

Has been following our trajectory perfectly here so no changes and I have no reason to doubt this count either.

$GME - RC -

As I like to say, Glued to the trajectory!

$AMZN TOP 20

Red day today but holding the 200 Day MA on the 1Hr so far very well, another attempt at the red trend line is still possible when it is able to find support like this. 

This is still at the top of my watchlist, the CFO was being honest in their earnings call and didn't jump on the AI soundbyte train, he spoke honestly and $AMZN is certainly a company that will continue to dominate l...

$ADAUSD

Following our count here very nicely here, pulling back for a move to our Wave 2 (ii) point for the 0.618 Fib, I'd like to see it hold here and move to Wave 3 (iii) next, very nice structure here, so a bounce at the Fib levels we expect and I would be happy with the upside potential.

$ENPH - RC -

Pretty aggressive decline after a positive beat on earnings, my understanding is that guidance was not great, this has caused the structure to lose shape now and I believe the overall structure is a sideways ABC corrective count here....once it can hold either the 0.78 Fib, which it is at now or the 0.88 Fib, we do not want to see this come all the way down to the blue line which was the previo...

$SOFI - RC -

Double beat with their earnings report but reported a Q1 loss and is down now -11%, the 0.78 Fib support level is at $5.10 and just at where I have set the top blue line into the bear case. So this is an line to watch now to see if it can hold support. Both bull and bear cases are still active here but today has shown weakness, so support will need to be found, especially above the previous low...

$TSLA TOP 20 UPDATE

Pulling back today after rejecting at the previous support line where the yellow line is. I have added in a red line at the previous low, if this can hold above this line, the commentary I've added on the last $TSLA chart whereby, the bottom could be in here as Wave 2 could be complete is therefore relevant and active here. 

So if $TSLA can not hold this line, it can move down to $14...

$JMIA - RC -

Very little has changed here since I uploaded this last in Jan, I've eliminated the bull case because this has been following the red Wave 5 down to the price target of $2. It really needs to hold here and like it says on the chart, below $2 and it is in danger. Market cap is only $280 Million now, I remember during the Covid boom, and the share price was at $68, so there is a lot of concerns h...

$DM - RC -

Very nice set up here, we have liked $DM since the breakout of the yellow trend line and I know a lot of members like this too, getting very tight in the wedge now so a break out above will put this in a strong position. As always, wait for the break out and it can stay above and hold and even better if we see a break out and then a retest of the wedge from above, that's when we know that it ha...

$COIN

Make or break time here for $COIN, just at the centre of the apex here of the wedge and brings this down to just above the red line support level, so a break in either direction should confirm its next move. Earnings on Thursday, can it hold off until then before making its move? I think we may know before then.

$ABNB TOP 20 UPDATE

I uploaded this over the weekend and said to watch for the bull flag breakout, it has just slightly broke out now, it is still early to say whether or not it will hold above the yellow line so this is what you want to be watching, staying above this yellow line now above $120.50. If it can do this, the upside is as shown.....earnings on the 9th of May so the market may be getting ready for anot...

$TDOC

Holding the right levels here, still in the channel and above the 200 Day MA which appears to be mimicking the yellow trend line too, which is a good sign, meaning that there is confluence support here. I would like to see this move up to test the top yellow trend line next and ultimately a break above this. So far, I like what I see here for upside, at least in the short term. 

$NKE TOP 20

Very nice set up here and movement from $NKE, back to back bull flags and now a break above the previous high, held at the 200 Day MA when it pulled back last week so I am happy that many trusted the chart here and kept with it, knowing that pull backs are very healthy and should be seen as opportunities in the right set up and this has been the right set up.

$DAL

Break out above the bull flag again here, $34.30 was the trigger to break through and going comfortably well today, a break further above the previous high and we are confirmed in SubWave 3 too. We may get another retest of the yellow trendline before going higher at $34.30 to confirm that this is now a support line. If this can happen, this would be a good position to add.

$SPY TOP 20

The message has been clear here for the last few weeks and months, the bull and bear cases have not changed and I will comment on how the chart is reading as more information comes in. The price action moved very strong towards the end of last week and it was a big earnings week, I recommended on most charts to be cautious of taking risks going into this week.

Trading the $SPY during a bi...

$QQQ

Like I said last week, this is looking like the $MSFT and $AAPL chart combined, still a little more upside can happen but this needs to pull back if it wants to go higher. 

The $QQQ is the Top Nasdaq 100 so big tech play a large part here and the Top 5 are even more influential here than in the $SPY.

$AAPLs earnings on Thursday will likely be a very important junction here but ...

$VIX TOP 20

Broke out of its tight wedge at the start of the week and on the back of positive earnings and the market ignoring the elephant in the room, FRB collapsing, the VIX came back down to new lows. It has formed a bull wedge now, and the blue support lines are below at 14.77 and 14.11.

A lot will depend on Economics indicators and earnings reports this week to determine what will happen with t...

$MSFT TOP 20

This has been the crown jewel lately, back to back positive indications and reports, with remarkable progression across a number of markets it is in. Very strong bounce from their earnings, bursting straight through the yellow channel and the standard Wave 3 1.618 Fib level, so we will see how far this can move up before getting a well needed pull back for Wave 4 before going higher.

You ...

$HD TOP 20

At the start of the week we watched this reject at the 0.38 Fib as we expected, it dropped aggressively and then caught the positive wave of the market and moved higher, this is likely Subwave 2 of Wave 5 and we have the 200 Day MA just moving across to where we have Subwave 2 set, to act as a potential resisatance line.

MACD is showing that the bullish momentum over the last 2 months has...

$GOOG TOP 20

$GOOG is in a difficult situation here, as it is part of the big tech group which can move the market but it's set up is not an impulse wave here and it is comfortably moving within a bear channel. I also believe it may be under pressure as Bing gains market share. $MSFT and $GOOG reported earnings on the same day and the stronger $MSFT went, the weaker $GOOG behaved, this is not a surprise. 2023-05-01 04:50:41 +0000 UTC View Post