The Long Investor

$ASTS

$ASTS bounced well on the second target but has so far retested the 50 Day MA from below and the blue line and has so far rejected, a firm rejection here and we will see a lower low next from last week.

Right now there is still a higher low as the price retested the MA from below, but a fur...

$VICI

$VICI is company that will likely fair well as Rates Cut and the 10 Year goes lower.

We still have this in Wave 4, with the 0.38 Fib at $31.71 just below the 50 Day MA.

A pull back and hold here and I have Wave 5 next at the previous high.

$QQQ TOP 20

Ok, we have a rejection at the 0.887 Fib at $494 and the price has pulled back today and is likely going to test the top of the wedge line again, we can see that the 50 Day MA is waiting here too to offer support as well.

This is just the first rejection at the Wave B level, price action ca...

$BIDU

$BIDU hit the 2.618 Fib yesterday, went slightly above and on the retest could not hold, price is performing well here today but I can make out the possibility of a head and shoulders pattern here around the 2.618 Fib

This would be ideal and a lower high at the 2.618 Fib could trigger a rej...

$AMZN TOP 20

Ok there is clear resistance at the $188 line now, this is confirmed, price broke above but on the retest it could not hold and there has not been a retest of this level from below yet

I would like to see this next, if we get a retest of this level from below and then a rejection, then we n...

$DELL

Mr Dell himself has just sold $1.2 Billion of stock this week which is not a good sign in the short term, it may have triggered prematurely the end of Wave 5 because of such a large sale.

I have added in the amber Fib levels now to show where an ABC correction can pull back to.

The 20...

$ABNB TOP 20 - WATCHLIST -

$ABNB is where it needs to be right now and like I said on Sunday, the impulse move has been moving perfectly and when this happens we should be taking advantage

So a hold here above $125 and I will have no issue adding to my position.

High on my buy list now.

$NKE TOP 20

$NKE is also in the same situation as $BTC and $AMD, battling at an important level

I highlighted on Sunday that the $89 level is a legacy support/resistance level, so flipping this to support will be significant and a trend change

We can see that there has been some resistance here a...

$TGT - WATCHLIST -

I do love when moving averages behave like Fib levels.

The 50 Day MA is aligning with the 0.618 Fib and the 200 Day MA is in between the 0.38 - 0.5 Fib levels now

Ideally the pull back should go between both these MA's and hold, a hold here and we can add, very straight forward here 2024-10-01 10:53:23 +0000 UTC View Post

$TMF

$TMF is up in the PM now +2% and we can see that it has been holding on the 50 Day MA and the 0.38 Fib, this could be a trigger to move higher next, if the market takes a breather this month after running +3% in Sept, which is usually a difficult month....then $TLT and $TMF could benefit from thi...

$BA - WATCHLIST -

$BA is considering a $10 Billion stock sale so there has been some red yesterday and in the PM now

This allowed the price to pull back to the $146 level I highlighted over a week ago

This is a big confluence level, it really needs to hold or the chart will show weakness and a breakdow...

$AMD TOP 20

I am going to add a few charts today that have my attention and look for an entry

$AMD is a stock I am already heavy in and it too has a battle on its hands like $BTC

We can see that the 200 Day MA is holding support so far and there has been movement at the $164 level, PM is healthy ...

SILVER - SAFE HAVEN -

I am not seeing any concerns on the Silver chart so far, a higher high was made on Thursday so this confirmed the trend and the impulse wave for me, if a pull back is needed again to the blue line I have no issue with that.

$TLT also needed a breather too over the last few week after runnin...

$NIO TOP 20

$NIO opened up +19% yesterday, we asked for calm and not to chase, the price then faded throughout the day and finished at +2% to end the day, a lot of people including myself were happy to see this, we don't want $NIO going anymore extended then it already is

HSI was closed today and the C...

$BTC TOP 20

There is certainly a battle going on at the 200 Day MA, the market is aware of the significance of this moving average, as we know it is the separation between a bullish and bearish trend.

I see a lot of talk about October being known as Uptober for $BTC, I had not heard of this expression ...

TWEET: EWT EXPLAINED

This is the standard move of impulse and corrective waves

Wave 3 and Wave 5 can extend depending on the momentum behind buying (eg. Black Swan events like an aggressive stimulus package from China)

Likewise, Wave 2 may not always go to the 0.618 Fib if there are ...

$MU - RC -

There was some euphoria post earnings release last week....the earnings was not bad but like I said in the previous upload, the set up was not there to enter before earnings.

Now profit takers have come in and the price is just below the 200 Day MA now, so I have added in the green Fib leve...

$RDFN - RC -

$RDFN hit our Wave 5 target and has rejected and pulling back now for what I believe to be an ABC pull back.

Price has already came close to its 0.38 Fib and a bounce for Wave B needs to be confirmed next

I expect a lower low to be made for Wave C next then as shown, with a target at ...

$FUTU

$FUTU showing that it moved with the HSI too, also holding the double 0.618 Fib level and bouncing aggressively out of the wedge, above the 50 and 200 Day MA and straight through the blue line up to the 1.618 Fib target for Wave 3....yes it has gone extended but this is not a normal 2 weeks, Chin...

$IQ

Yes $IQ disappointed us, yes it dropped hard but it was still undervalued and recovering now very well.

Those that held, I salute you

Those that added under $2, you deserve the gains.

Cup formed here after some formation in the green rectangle box, I would also like to see the h...

$NIO

$NIO without EWT.

Looking like a simple test of the green channel top line now today, yes it looks extended but not looking absurdly out of place, $NIO fans have pumped and chased this many times in the past....look at July 2023, that was a lot more extreme than what we are seeing now but ...

$X

$X's revival has now calmed down slightly, it has pulled back to the wedge top line to test from above now at $34.

I have added in the 0.5 Fib to show where support can potentially come and it aligns very well with the top line too.

But a hold anywhere between the 0.5 - 0.618 Fib leve...

$RLX

$RLX is up in the PM now by +12%, price is now above the 200 Day MA and will shortly test the wedge breakout level at $1.90.

I have added in the 1.618 Fib here at $2.14 if the breakout is successful and this would be the standard extension level for Wave 3.

A pull back after hitting t...

AML

The timing of AML's profit warning is very peculiar here, it happens exactly on the retest of the wedge that it has been in since 2020.

Price was managing to hold support above the 0.887 Fib for the entire length of 2024 so far but on the very last hurdle, the price falls

This may be ...

$NVDA

Continues moving downward after rejecting at the $126 level at the top of the wedge and I still expect a retest of the 50 Day MA at $115 next.

Losing the 50 Day MA and we should be waiting for a retest of the bottom of the wedge again or at the least the previous low at $100.

Like I h...

$ETH

$ETH is still in this impulse wave but we need to watch how $BTC behaves right now as the price has just lost the 200 Day MA, it is vital that $BTC bulls reclaim the 200 Day MA or it could go wrong for them and the corrective structure takes place.

$ETH is not in this situation because its ...

$HIMS

$HIMS is still moving and broke above the 50 Day MA last week, it also gave us a retest of this level on Friday too and finished the week above this level.

I have added the white fib pull back levels but it is immaterial right now until we see signs of a pull back, so they will move higher ...

$BIDU

Look at $BIDU go, $BABA is getting a lot of attention as it is seen as the front facing company of China but the other tech stocks out of China have been equally as impressive.

$BIDU, like the HSI is also at its 2.618 Fib in the PM now, also extended too.

I do not want to see $BIDU go...

HSI

This is the same chart uploaded on Friday, with Wave 3 at the 2.618 Fib, the price hit this level today and stopped.....this is also the 200 WMA at this level too, so it is a confluence level and the perfect area to relax, let off some steam and then pull back for Wave 4 when the market opens aga...

$NIO TOP 20

$NIO is soaring in the PM now on the double news boost from the $2 Billion investment partnership and the further pump in the HSI today, as Chinese policy makers continue to release more stimulus measures.

$7 was the cut off point for me for Wave 5 as this was a strong resistance/support le...