The Long Investor

$PLTR TOP 20

$PLTR held very well this week, especially after testing its $29.30 level, which was a 3 year high and although it was met with resistance initially, bulls kept buying any pull back, the price action did not pull back along with the Mega Caps and the $QQQ.

Wedbush gave a very generous 12 m...

$QQQ TOP 20 - Important note -

Very little was safe this week, apart from Crypto related positions.

The Tech Sell Off started, mainly led by $NVDA and the Semi Sector, $AMZN contributed by rejecting at the $200 Bezos line and $MSFT, $GOOG and $AAPL had minor domestic issues but ultimately they all ended up moving togeth...

$SPY TOP 20

There are a lot of variables at play right now:

• Tech rotating to Small Caps

• Earnings season kicking off

• Influences on the Fed to delay Rate Cuts

• Trumps assassination attempt

• Biden not running for re-election and the uncerta...

  2024-07-21 20:02:06 +0000 UTC View Post

$TSLA TOP 20

$TSLA went from the worst performing stock in the S&P 500 in April to recovering nearly all of the losses this year and looking like one of the strongest Mega Caps right now, the count has moved exactly as expected and the only variable was whether Wave 4 would retest the breakout level again...

$SHOP TOP 20

Rollercoaster week this week for $SHOP, got a nice upgrade at the start of the week from BofA and tested its 200 Day MA but it was not enough to withstand the selling pressure from the market and dropped back down to its 50 Day MA....which many of us believed was beyond us to add again.

I ...

$SE TOP 20

$SE has had its first hiccup of 2024 this week and failed to make a higher high after holding support above the green, price looks set to test this level again at $67 and the bulls need to hold this line.

I can not deny that I see a Head and Shoulders pattern here in this formation but if t...

$PYPL TOP 20

Not a particularly good look here for $PYPL, bounced on the blue line and got back above the 200 Day MA but tested the 50 Day MA this week and rejected, as remarks came out this week from Trump and Dimon that the Fed should not Rate Cut this year.

This was a blow to $PYPL and the sector, on...

$MSFT TOP 20

I am starting to sound like a broken record here, as $MSFT is looking exactly as the $GOOG chart now, as it tests its 50 Day MA, again I have added the white Fib levels to show where support can be found and added the ABC correction count.

Buy Zone has also been added on the 0.5 Fib

...

$INTC TOP 20

$INTC had the best week of all of the Semi companies but could not sustain that strength into the close of the week on Friday and started to pull back.

The pull back came right to the 0.618 Fib, it is still undecided whether this is Subwave 4 or Wave A, but a strong pull back like this woul...

$GOOG TOP 20

$GOOG could not hold the yellow trend line on the retest but sunk right down to its 50 Day MA, which is in line with a lot of the Mega Caps this week.

Again, I have added the White Fib levels to show where the ABC correction would complete, nothing the Buy Zone on the 0.5 Fib which I mentio...

$DIS TOP 20

$DIS tested its 0.618 Fib this week but could not hold cleanly and tested the red trend line to finish the week.

Price is still below the 50 and 200 Day MA but remains in the area where you would expect a bounce, once the conditions are favourable, this was week was not going to be favourab...

$COST TOP 20

This will likely be the last time $COST is uploaded with the Top 20 list every weekend, the poll I added during the week was a +95% in favour of replacing $COST with $V, mainly down to $COST already completing its Wave 5 and $V being a quality safe haven and at its 200 Day MA, with a dividend and...

$BABA TOP 20

We waited all week for a positive announcement by the Chinese ruling party that they would add another stimulus measure but instead we got a number of commitments and no rock solid statements of hard cash injection, the market I believe was disappointed by this but the Chinese ADRs did not seem t...

$AMZN TOP 20

$AMZN pulled back in line with the the other Mega Caps but cleanly lost its 50 Day MA and the blue line which was an important level to hold to stay in a bullish set up, as it was the previous ATH line.

The variable here was that Bezos added fuel to the fire and excessively sold at $200, in...

$ABNB TOP 20

Largely unaffected by the market decline this week because we know that this is not in Wave 5.

The 200 Day MA was tested again and for the 3rd time in 2 months we can see that support was found here.

This is similar to the $AMD chart, so we want to see these companies hold their 200 D...

$AAPL TOP 20

$AAPL like all Mega Caps this week, including the invincible $LLY has pulled back this week and a lot of companies have tested their 50 Day MA and support levels, some look weaker than others.
What we can say now is that we know the market and the Mega Caps, with the exception of $TSLA are dee...

My 2 cents

The bull market has been kind to us but we have equally been waiting patiently for the market correction to take effect which is what I am most excited about, a chance to buy great companies on sale.....this does not happen every year but when it does, we need to be ready for it and take full adv...

$AMD TOP 20

I wanted to add the $AMD chart ahead of the other Top 20 charts because it is the one chart that has given me concern this week, although the impulse structure has not broken down and the fight between the bulls and bears is at the 200 Day MA now, I want us all to be aware of the ABC corrective p...

$BTC TOP 20

There is every reason why $BTC could be finished its pull back now, it is above its 50 Day, its 200 Day, found support on the channel trend line and bounced, the pull back completed 3 waves too, which makes an ABC valid for us.

The big test next will be again getting above the $69k and hold...

$TSM

If you have been in this group since last year you will know that since November we said that $TSM would run to $186 to complete Wave 5.

We can see that the price hit $193 above the 2 Fib and on the retest, could not hold this level and has dropped down now to the 50 Day MA, so this 2 Fib l...

$IREN - RC -

Widening channel here since the start of 2023 has been acting as a support and resistance levels a number of times over the last 17 months.

Price action hit the top trend line twice since June and has now rejected and pulled back heavy to test its 50 Day MA today, which is just above its 0....

$NVAX - RC -

Remember the $NVAX parabolic run from $4.50 to $24 in the space of 1 month from the middle of May?....well it is coming down to reality now.

Wave A dropped to the 0.618 Fib, Wave B bounced to the 0.38 Fib, so I expect a lower low next below the 0.618 Fib next, the 200 Day MA is moving up he...

$DASH - RC -

$DASH has formed a very distinct Cup and Handle formation here and continues its handle while pulling back.

Price has lost the 50 and 200 Day MA and working its way down the Fib support levels now.

Between the 0.5 Fib and 0.618 Fib at $92 - $80 would get appealing but wait for support...

$COIN

$COIN is now above the wedge breakout level after having a very mixed day, $COIN opened and sunk to $233 and recovered very well to $258 now and raising its head above the breakout level at $253.

Price just needs to hold above this level now, which will require a clean breakout and retest, ...

$NVDA

$NVDA continues to sell off and is putting enormous pressure on the sector and market, as it did in April but rebounded very well when its pull back completed.

The price action is just at its 50 Day MA now, this was also lost in April too and when this happened we waited for the retest of t...

$TSLA TOP 20

$TSLA has been giving us what we have expected and moving very well back to the 0.38 Fib at $231.
We believed the first test of the wedge breakout was too fast to complete Wave 4 and we did not see a 3 wave pull back either....now we are getting that and the big test is coming up next at $231....

$BIDU

$BIDU is still searching for support confirmation and tested the 0.78 Fib today at $89.20 exactly, we want $BIDU to make a higher low from the wedge trend line test and bounce from the end of June.

Another test of the trend line and it is at risk of losing this yellow wedge and dropping dow...

$AMD TOP 2O

Another volatile day today with a number of swings, mainly brought on my uncertainty due to the IT outage and some continuation from yesterday but I am still not seeing any breakdowns, just a test of firm support levels.

We can see here that the market is fully aware of the significance of ...

$OXY

$OXY has held up quite well over the last 2 days and our buys were added at a favourable time here.

I have added the impulse wave structure now since a higher high was made and this is above all important moving averages.

The 1.618 Fib is at $68 now for Wave 3 and we can see that Wave...

HSI

The Third Plenum is now complete and they announced a number of soundbyte lines that they will focus on the economy and bring competitiveness to the markets but I did not see any solid announcements of further stimulus measures.

I found it strange that this final day happened on the same da...