$EEM
I believe this is an impulse wave, break out from a channel too and looking very structured.
This is an ETF I will be watching closely as it is an Emerging Market ETF.
The Long Investor posts
$ENPH
Very straight forward chart here and it would be great if all price actions wen this way. 5 impulse waves up in green and stayed perfectly in the channel....break down from the channel and it confirmed we were in the corrective phase. Completing Wave 5 now of Wave A, will see a bounce for Wave B shortly, before going down again.
Really good chart to learn from, look at how Wave 5 finishe...
$FSLR
A nice break out above the channel, retesting is likely next for both scenarios, if it can hold above at Wave 4 (green) it will likely continue to new highs, failure to hold and it proceeds down in 5 waves.
2023-01-23 11:57:38 +0000 UTC View Post$MP
Following our ABC (amber) count nicely. Pull back is to be expected before it continues higher for the short term. Wave C high is not what we like to see.
2023-01-23 11:49:16 +0000 UTC View Post$QS
Rejected from the upper channel resistance line and likely to come down to complete Wave 5 now.
2023-01-23 06:29:02 +0000 UTC View Post$SPOT
Bull case looks triggered here, a nice pull back to test the flipped resistance to support line would be ideal now, which completes Wave 4. If you missed this, the ABC count in June or so, is also another good entry to start or add.
2023-01-23 06:27:46 +0000 UTC View Post$NIO TOP 20
I've primarily drawn in some counts for this Wave 3 (if it stays out of the channel!) Once Wave 2 is complete, we will then have 2 waves complete and it is a lot easier to draw accurately wave 3,4 & 5.
$9.50 remains an important line to break below.
As always, i'll update this a number of times during the week.
$VIX TOP 20
The big question this week, will the market break out and turn bullish or will VIX bounce and break out of this channel and complete ABC.
Both cases are still on the table.
I think earnings will hold the key!
Reminder: no big gambling!!
However, Benjamin Graham had always said to settle your impulse need to buy or sell, always have a tiny little account that you can...
$NKE TOP 20
Larger time scale so we gauge what the long term plan is.
For now, Wave A (amber) could be complete at any stage now and it is close to the 0.5 Fib, next I expect Wave B (amber) before the next leg up.
Overall the structure is corrective however.
$KO TOP 20
Breaking below $58 is important here, few formations have the potential to develop if it does not, a break below $58 and we will possibly test new lows and our buy zone.
2023-01-23 06:12:53 +0000 UTC View Post$INTC TOP 20
Really good example here of why we should wait for the bull case to get triggered and pull backs always come after a very fast rise.
Both cases are still in play here, I would like to see this come down to our buy zone because I feel this would be a great contribution to our long term holds, likewise, if it does not, I would start a position above $32 after it is clear which direction th...
$HD TOP 20
I mentioned in last weeks $HD update that I feel this will struggle as home sales start to reduce across the states (my family are home building developers in New England in the US and I will be meeting them in two weeks to get a brief from them) . Wave 2 looks complete and rejected before the bull case. I want to see a continuation this week and Wave 3 falls right in the middle of the earnings...
2023-01-23 05:58:36 +0000 UTC View Post$COST TOP 20
Really struggling to stay in the wedge here, last week it looked like it wanted to continue back in the wedge but dropped out during the week, a move lower than Wave 1 and we can look forward to our buy zone.
Really nice structured waves here, makes this a TA dream, especially when we bottom soon and start charting the impulse wave.
$F TOP 20
The overall structure is not an impulse wave, it is a corrective wave and for now, it is favouring the amber line and then follow the second Wave C line in red.
It has tried to maintain the covid low support line (top yellow line), failure to hold this line again and Wave C comes in earlier. Either way, our $7 price target is in play in both scenarios. A break below $10.60 and we should ...
$QQQ TOP 20
Similar set up to the SPY. It can still come down to retest the .618 or .65 Fib at 270 and 269, if it finds support here, Wave 2 could then be complete and it has a good chance to break out of this channel. Failure to hold these levels and it goes lower than the previous low, then the bear case takes over.
Big earnings this week, a lot will happen I suspect.
$BITCOIN
I despise parabolic moves in both directions because human behaviour get's fooled time and time again with them, it's natural to jump in or jump out, especially when it's something you have been monitoring for a long time.
I am very happy to let this go if it continues this move up, I want to see structure with price action, otherwise you are just chasing.
Above $25,500 and it's ...
$AMD TOP 20
Wedge formed and the trend before entering the wedge is downward and in the red channel. $AMD has not looked as strong as $NVDA, earnings also this week so can the earnings turn this around?
2023-01-22 13:25:12 +0000 UTC View Post$ABNB TOP 20
Th red channel, like in a lot of our large and mega cap stocks have been a defining factor of many of our charts, tested the upper resistance level this week and got rejected, this move (in green) looks very extended now so would need to see a pull back and I have put the bull case scenario on the chart.
I like ABNB but would love to see it in our buy zone to buy, I won't be chasing othe...
$PLTR TOP 20
Full of drama as usual for Palantir but nevertheless, the buy zone remains and Wave 5 is looking at completing at the earnings date....I never construct charts and use earnings as reference point, I let the waves and levels determine the dates but I do love when coincidences like this happen. Major catalyst coming up then.
2023-01-22 13:18:13 +0000 UTC View Post$AMZN TOP 20
$AMZN is the only mega cap stock that has broken out of it's red downward trend, likely to retest it shortly and earnings are due on Thursday, so very big week here. Good earnings and it can stay above the channel, then you would need to favour the bull case getting confirmed.
Back into the channel and that would be a big rejection for $AMZN and I would expect new lows then.
Eithe...
$SPY TOP 20
I think we know the game plan here, a break above the previous high at $400 and then final test before the bull case is breaking above $411.
I still expect this to pull back further but it has come back earlier in the week to hit the .38 fib so technically, in terms of EW theory, this is a valid pull back complete but the very minimum.
A break below $361 and we are into the bear...
$TSLA TOP 20
This continues to go to plan, so we are sticking to our strategy, clear ascending wedged formed, we also have a cross over with the historical support line that switched to resistance and the .88 Fib at $135.26....also on the same day as the earnings this Weds. A LOT happening at that point!
Tesla scrambled to sell as many cars as possible into the close out of the year 2022 and offered ...
$MSFT TOP 20
For now, no concern yet of this testing the downward trend resistance line yet (in red), a break down below the previous low and we should be looking at hitting our buy zone.
Earnings due on Tuesday, so I suspect pending the outcome of the earnings, we will know which direction is next.
$GOOG TOP 20
Just stopped short at the resistance line, it has tested here, no rejection yet but no break out either, next few days will be important.
$AAPL TOP 20
Very little has changed from last week, we wanted to see a rejection back into the large wedge and this has happened. It has now formed a slight ascending wedge (bearish) after getting rejected. For a company with such a large market cap and a lot of control over the $SPX, if this does not turn bullish, I struggle to see how the market can. That being said, individual stocks can go in whatever ...
2023-01-22 12:47:59 +0000 UTC View PostHappy weekend everyone!
As always the Top 20 list will be uploaded this weekend. I am currently in Asia at the minute and have been here for a few days, Chinese New Year celebrations start tomorrow night, so let's how it brings some luck for some our stocks and one particular Chinese company.
Enjoy your weekend, use it to relax, spend time with loved ones and if you cant stay away from the market then use the t...
$CROX
We warned before not to chase $CROX and a pull back was due, it looks to have started now. This looks quite unfair for $CROX, considering the run it's been on but ABC waves are brutal and savage like this.
2023-01-20 22:04:38 +0000 UTC View Post$TDOC
Wave C is still dominant here, if you are in here, consider what we know about Wave C ending high....this structure is not an impulse wave.
2023-01-20 21:51:13 +0000 UTC View Post
