The Long Investor

ECONOMIC CALENDAR

Market Opening Hours this week:

• Monday, December 23rd: Normal trading hours.

• Tuesday, December 24 (Christmas Eve): Markets will close early at 1:00 p.m. Eastern Time (ET).

• Wednesday, December 25 (Christmas Day): Markets will be closed for the entire day.

• Thursday, December 26:...

  2024-12-22 20:24:17 +0000 UTC View Post

$SPY TOP 20

The 50 Day MA showed how important it was once again this week by being the important battle ground area for bulls and bears, so it was not a surprise to see the price finish at this level as a cliff hanger leading into Xmas week.

Bulls did show up on Friday and a record number of positions were green across the board

I also highlighted that the RSI was at 32 now, which is on the cu...

$QQQ TOP 20

$QQQ had a notable stronger week compared to the $SPY and that is likely down to the strong run up leading up to this week, where the price had broken out above the rising wedge in a very bullish move

As Weds unfolded, the price dropped hard and even broke down underneath the rising wedge but managed to hold support on the 1 Fib at $510 and did not test the 50 Day MA....unlike the $SPY, w...

$V TOP 20

Continues to be very impressive and showed no signs of weakness this week in spite of the broad market sell off.

A retest of the 50 Day MA from above may come shortly along it's journey up to our Wave 3 target which will also offer an opportunity to add.....but for now, it continues to look strong.

$TSLA TOP 20

No changes to the chart and the commentary here from my last upload and now we know why $TSLA was -3.5% on Friday while the rest of the market bounced very aggressively.

Big tests coming up at $414 and $397 next but we want this to continue pulling back further to the 0.38 Fib at $354

We can see how low the 50 Day MA is now at $320.....so the price must give this time to catch up an...

$SHOP TOP 20

I think we were all happy to see $SHOP arcing downwards this week but again we want to see more....we have been patient with this and we can be patient a little longer until the price drops down and gives us an ABC pull back

Not a surprise to see the 50 Day MA exactly at the wedge top line now, so this is going to be an important level at $100

Losing this level would be even better ...

$SE TOP 20

One of the best performing positions in the market this year and in our Top 20 but it has now found solid resistance at the 200 WMA here at $118, which aligned with our Wave 5 target at the 2.618 Fib at $120.

We want to see a pull back now to the white fib levels and this has already been shared with you from previous uploads, so there are no changes here.

The 50 WMA is moving up to...

$PYPL TOP 20

OK nice rejection so far here at the 1.618 Fib at $90 and the price came all the way down to the 50 Day MA this week and has so far held support....we do want to see this level lost and come down further over the next few weeks/months

Because the price is still above the 50 Day MA, we can not rule out another higher high to $96 first, which is why I have not trimmed here yet....but losing...

$NKE TOP 20

Bad week to report earnings, on the day directly after Weds sell off and bearish comments from Fed Powell.

That being said, it was a double beat and surprised many strong numbers.

New CEO spoke on the earnings call and he was less than enthusiastic in the short term.....which is not a bad tactic from a new CEO, to potentially under promise but over deliver.

There is a higher l...

$MSFT TOP 20

The market needed $MSFT to bounce for Wave B and it did give the market that in Dec but a weak market this week showed $MSFTs vulnerability once again and rejected very clearly at the 0.78 Fib at $450 and fell down towards the 50 Day MA

As long as the price stays above the 50 Day MA, it can always have a chance to make another attempt at $470...but any more rejections at the amber levels ...

$INTC TOP 20

$INTC approached its bottom line at $18 this week and I feel that this is very close to the bottom for $NTC but it consistently fails to start new impulse waves

Which leads me to believe that $INTC will likely continue to consolidate sideways in this range from $18 - $24 for the next few months, as it has been since July.....Not an add for me right now until I see more strength above $18<...

$GOOG TOP 20

$GOOG and $MSFT have been the weakest Mega Caps since August so it was not a surprise to see them struggle this week and $GOOG initially lost its retest of the green line at $193....which was the high in June but the bulls did very well on Friday and managed to finish the week on this line.

So flipping this back to support this week ahead will be a big win for them....if they are successf...

$DIS TOP 20

There are a number of charts this weekend that need no update, the chart has been perfect and the pull back this week complimented our counts very well

$DIS was one of them

I would not consider this a buy until at least the $105 level is tested , ideally down to the 200 Day MA at $102 and holding.

$BTC TOP 20

Price is still holding a higher low right now and above the 2.618 Fib at $95.6k, price is also comfortably above the 50 Day MA which was never lost....like the $QQQ.

There is every reason to believe that $BTC can make another attempt at the ATH again, to test my target at $109k.

The big test will be getting back into the channel at $98k, a rejection under this line may be a concern,...

$BABA TOP 20

I uploaded this late this week to show that there is a concern under the 200 Day MA and that the 0.78 Fib can not be ruled out at $77

We are still in the Buy Zone now and I believe this is in an undervalued position in this range down to $71

I have my 5 buys in now for $BABA, so I am holding and will not consider adding anymore...I added a lot in early 2024 when the price consolidat...

$AMZN TOP 20

I said this week that I was very happy with $AMZNs performance and on the chart, it appears as tho it was a simple retest of an important support level at $220, as it was at $191 and $200....before going higher

As long as $AMZN continues to hold above $220 I will not consider trimming and give this every opportunity to keep running higher.

$245 at the very least is a possibility in ...

$AMD TOP 20

This is getting a lot of attention now

It is in the sweet spot between the 0.618 Fib and the 200 WMA at $114 now, so all we need to see is a hold of support

I have shared the weekly chart here to see where the 200 WMA is but we can also see that the RSI on the weekly is near oversold territory....while on the daily, it is completely in oversold territory, so a relief bounce is likel...

$ABNB TOP 20

Moved very quickly below the 0.5 Fib and into the Buy Zone and quickly bounced out of it and retested the 50 Day MA on Friday, for fast moving positions like this, I wait for the pull back to a higher low to consider a position.

We can see that the price finished on the 0.38 Fib to end the week at $134 but I think another retest of the $129 level on the 0.5 Fib is possible here

We c...

$AAPL TOP 20

Looking at this chart and you would believe that this week was completed uneventful.

A slight blip mid week but finished the week at an ATH high and continues to look like it wants to push higher to the next Fib at $260 at thr 1.27 Fib and there is no reason to think it won't achieve that.

So no changes here.

$BA

Incredible stuff from $BA, in spite of everything this week, $BA continued to burst through all daily MA's and the 50 MA on the weekly chart and looks set to test the important 200WMA soon at $195

This was at $137 on the 11th of November and the 200 WMA did its job and behaved like a magnet

It's not that this is a great company, it's because of their duopoly with Airbus and its cor...

$PFE

$PFE had a good week too and held up well against the market.

Price is now knocking on the breakout line at $26.50 today

A breakout and hold above this level and the 1.618 Fib level is the target at $28.28 and a 6.7% dividend too.

Golden cross on the hourly chart now as well

$JASMY

The bleeding has stopped here also and support was found just at the blue support line and if we look along the line, we can see that it was an important support/resistance line

Price is already back above the 0.618 Fib now too at $0.032

The impulse wave is still valid and we have 3 waves in this pull back, very clear 3 waves too.

So as with $ETH, lets look for higher highs an...

$ETH

Ok the bleeding stopped exactly on the 0.5 Fib at $3100 and many buyers stepped in, possibly to catch a relief bounce and the potential for a bottom but at the very least they would get a relief bounce back up to the $3700 top line level or to the 1.618 Fib at $3456 which is where the price is at now.

The best case scenario for $ETH now is that we completed an ABC pull back to the 0.5 Fib...

$RLX

$RLX managed to keep its structure in place over the last 2 days which is certainly impressive and not changes to the ascending triangle.

I have added in the white fib levels as help too.

The low risk breakout level is still $2.11, so a hold above this level is a good entry

Likewise, a retest and hold above the 200 Day MA between the 0.5 Fib and 0.618 fib at $1.80 is also attr...

$SPY TOP 20

PCE coming in cooler than expected was the catalyst the market needed to turn this around before the week closed out.

Up 1.28% now which brings the price action back up above the 50 Day MA, which was our concern.

All we need to see for the rest of the day is a hold above $591 now.

$LLY

$NVO has pulled back in an ABC count now and I believe $LLY will follow and is already half way through its Wave A pull back

We can see that there is a clear rejection under the 200 Day MA after a retest from below and now we have the death cross from the 50 and 200 Day MA.

I believe $LLY will pull back to the 0.38 Fib at $630 to complete Wave A.

$SIRI

Buffett bought the dip here

After a failed breakout of the descending wedge on the 9th of Dec, the share price dropped from $29 to $20 and Buffett acquired 117 million shares when it dipped

Price is up 5.5% now since the market opened.

Buffett has only added $SIRI and $OXY lately.

He sees something that many can not but there is still risk here while in the wedge.

$CLSK

Working its way down the Fib support levels and testing the 0.78 Fib level in the PM now

Any Fib level below the 0.618 Fib for a Wave 2 pull back is showing weakness to me, so support needs to come in soon or the blue support line comes into play at $8 again.

$CLSK and miners will likely need $BTC to hold support and stop bleeding.

$NUE

In a very clear ABC correction as the price tests the 0.5 Fib now at $115

Failure to hold this level and the next test is the 0.618 Fib at $95, this a Steel company that could do very well over the next few years if there is spending on infrastructure, both in the US and China.

Fundamentals already look good here but the concern is their growth in the short term.

As a long ter...

$HOOD

Dropping very nicely towards the 50 Day MA and the 0.38 Fib level now in the PM for Wave 4.

So we should be watching for a hold of support between the $33 to $31 next.

Failure to hold at this level and this is not an add....the 200 Day MA can come into play at $23 then.