The Long Investor

$SNAP

Hard rejection from the blue line and previous high today, more than likely brought on by the parabolic move before it, lets see if it can stabilise and try to break out again, failure to do so and I can't see how this will not come down to test the lows next. 

$DNA

New lows again today, going as low as $1.22....incredible price since we called this dropping since $2.26. Recovered a bit after the drop at the open, no doubt the ARK Funds played a large part of this.

Impulse wave added here and a consolidated wave, consolidation is likely if no positive news is reported.

UPDATE**

ARK Funds did in fact buy on Weds. 

$BTC TOP 20

$21,400 is the price to watch, failure to hold this line and we could see this come down heavy. $SI collapsing today should be a trigger. Again, I am still very surprised to see BTC even at this level. 

$JD

This is an eruption waiting to happen. Holding the 0.65 Fib and earnings to be released in the morning time before the market opens. Good earnings and this takes off, bad and its coming down for Wave B in amber, RSI just at the oversold territory, so it is in an excellent position to benefit greatly from a good earnings. 

$PFE

Edging closer to the trend line, $39 being the target here. RSI hit as low as 14 this month, incredibly low for a company of $PFE calibre, holding this trend line and I think this could move quickly, I am still very much surprised to see the price suppressed like this. Fundamentals very strong too.  

$NIO TOP 20 UPDATE

Looked weak at opening and recovered as the day went by and the $SPY stabilised too. We have got a pull back so far, went down 10% from the high after the bounce from the new low, but so far we have not got a new low or a new high so this structure is still developing, will need a day or two to see where this goes next. 

If we zoom out, the trend is very much downward, RSI still not ...

$BABA

New lows again today, reinforcing the downward trend, all eyes on the 0.618 and 0.65 Fib levels now and the Gap between between both fib levels, we have been watching this for weeks now. It is a slow strategy this but always saves us from buying the tops and getting caught in euphoria, the pull backs always come, your patience will always get rewarded. 

$SPY TOP 20 UPDATE

Very little has changed here from the chart uploaded at the weekend, we expected a bounce for Wave A (amber), it went a little higher than expected, even went above the 200 Day MA, I alerted that a rug pull would come then because it looked extremely extended at that stage and almost instantly it dropped like a stone, forming a nice structure so far for Wave B of 2, still early to say if this i...

$TSLA TOP 20

We spoke yesterday about $TSLA looking weak and if if loses the neckline at $186, then we can expect a strong pull back, so far this is playing out as expected. Volatile day for the markets, however, $TSLA stuck out as being particularly weak.

Gap below conveniently will be filled at the 0.618 Fib level, as we know, nothing is coincidental with charts, this will be an area that a lot of...

$SQQQ

How many times have we seen pulls backs or bounces to the 0.65 Fib and hold or reject lately?

It it such an important level and when counts do reach these levels, we are seeing well structured counts then. A chartist dream is to see counts following these rules. 

$SE

Is a perfect example of a good earnings (in this case fantastic) and an impulse wave colliding together to shoot up a stock.

Likewise, if the report was bad, this would have been down -22% to follow Wave B.

If you are considering adding here, wait for a pull back now.

$INTC TOP 20

I am watching the Subwave 4 bounce now, if we look at the Subwave 2 bounce, we can see that the 0.38 Fib was the resistance level but also reinforced with the 200 Day MA, so for Subwave 4, it has rejected at the 0.38 Fib too but was not reinforced by the 200 Day MA in this case, so I think it is still a slight bit early to say that Subwave 4 is complete but it is certainly looking close.

$DAL

Personally I am watching the airline stocks lately. $DAL's fundamentals are looking very good and I would not be surprised to see Buffet starting to buy here again after getting out just after Covid collapsed the Airline industry.

I am watching for a break out of the wedge here at $41 and holding above.

$OXY

No changes to the chart here, we expected a pull back for Wave 4 and so far it is holding where we expected, still expecting another leg up to complete this structure.

$BAC

A few coincidences here. First, its very similar to $JPM in that it is part of a Corrective Wave but appears to have started Wave C already. Secondly, Head & Shoulders pattern is formed here and the neckline sits conveniently on the 0.65 Fib at $29.37. Failure to hold this neck line and it should come down to complete Wave C.

$JPM

Very little has changed here, I added in the rising wedge to show that this Subwave C of Wave B is getting tight and extended now, meaning we expect a break down next.

The large circle in the centre shows a very aggressive bounce with a small pull back and we have seen plenty of times lately that this is part of a corrective wave and not an impulse wave, meaning, its perfect to be part o...

$AI - RC -

A company called $AI was bound to do well over the last few months and the chart proves that, after tipping away along the support line, when ChatGPT took off in popularity, this just ballooned, likely for more upside to continue but I would be mindful of the AI craze, especially when fundamentals do not back up the hype. For now, the fundamentals translate to the share price at the moment as f...

$LLAP - RC -

Fundamentally $LLAP were struggling as their debt was larger than their assets but they have just be awarded a $2.4 billion contract, which will no doubt play a big part of their earnings call and guidance when they report on Tuesday the 21st of March. 

On the chart it has pulled back after hitting the trend line resistance, this happened before the contract was awarded. A bounce now...

$NIO TOP 20 UPDATE

So this is what I watching for now. The white fib levels were levels I wanted to see $NIO reject and so far it has rejected at the 0.65 Fib which was perfect and the green Fib levels are the levels I will be watching to see is there is potential support (just incase the bottom came in on Friday at $8.31) and I will be watching for the 0.618-0.65 Fibs in green.

I am watching for everythi...

$DDOG

Nice structured pull back, holding just above the 0.618 Fib, it may test again or come down to the 0.65 Fib but once it holds these levels, Wave C completing is next.

$APPS

IF $APPS can hold this support blue line, there is a possibility that this can go to complete Wave C, earnings were not great but their FWD PE is 9 now, under half of its current PE. Fundamentals are good. If we can see a bounce and a retest to a higher low, this is in a very attraction position. 

GAPWAVES

Holding above the historical yellow lines nicely, if it can continue with this, there is every chance that Wave 3 is next. Last line of support is the bottom yellow trend line, holding here and it may consolidate for awhile.

ACARIX - RC -

Very little in terms of EW Theory we can do here, the promising signs is that it has just broke out of the large wedge, needs to hold above and I would like to see a retest for support. Absolutely can not go lower than the wedge bottom trend line as there is no support below. 

$XM - RC -

Wedge breakout and held the support line and bounced, still a bit of work to do here but in the mean time, one more leg up is still due for both cases. A break into the bull case is very positive here and it may have turned a corner then. 

$MATIC

Long bear flag here, back to back ABC counts here, similar move to $BTC and $ETH, pulling back aggressively. MATIC fan would like to see a bounce to finish Wave C and as we know, when Wave C ends high, it will be met by 5 Waves down.

Ultimately, a break down of the bear flag, which appears likely at some stage, the targets below are as shown.

$SBUX

A very solid company with good management and stable performance, their brand is known everywhere and they have been able to maintain their standard in every store throughout the world. In terms of its chart, I have added in a buy zone, it is below $70. We need to remember that the buy zone is where I believe the share price reflects the company being undervalued.

So in this case above,...

$CRSP

Another company that has pulled back to the 0.65 Fib and held, big test now shortly if it can break out above the yellow trend line. I have a number of counts all pointing in the same direction here so it is something to consider, once the trend line is broken. Failure to break through it and the blue final support lines are below.

$TSLA TOP 20 UPDATE

Clear head and shoulders pattern formed here and if we look at the inserted image, we can see that if the neck line is broken, it will retrace all the way down to the previous low and even go lower.

The neck line here for $TSLA is at $186.40

We have seen with $NIO how effective the head and shoulders pattern is, let's see if the $TSLA bulls can hold the neck line. 

$DNA

$DNA looking very textbook here, what I will be watching for is Subwave 4 to bounce to $1.45 which was a previous support, reject here and come down to complete Subwave 5 of Wave 5.

$TDOC

Comfortably in the 5 wave down count now....I have spoken a lot about Wave C ending high and this is a perfect example of what follows afterwards. Like I said before, I believe this will consolidate for awhile and it will need either more information from the company of any developments or will need a positive earnings report to change its direction.