The Long Investor

$MSFT TOP 20

This is the same chart we have used for the last few months and again uploaded last weekend, Wave 5 has not changed.

$MSFT tested its 50 Day MA yesterday with a lot of the Mega Caps and needed a strong day today to recover from that test....so it needed an IT outage like it needed a hole i...

$HIMS

$HIMS pulled back with the market yesterday and it appears to be a heavy rejection at the 1 Fib at $22.58, the structure is still in place and the price managed to find support on the green Fib levels we were watching from the middle of June.

I have added in the Red Impulse Invalidation lin...

SILVER - SAFE HAVEN -

SILVER did not hold its $30 level retest that we have been waiting for and has lost its 50 Day MA too at $30, so I have added in the corrective pattern I believe will play out now.

I would be surprised if a lower low below the 0.38 Fib does not come in next, so I expect a move down to at le...

$CRWD

$CRWD has upset the world this morning and we have just seen how important they are to the global digital ecosystem, however this was a big test for them and unfortunately they have not come out of this very well.

IT failures of this magnitude can not simply happen and apparently this was ...

$LABU- BIOTECH ETF -

$LABU is pulling back to retest the breakout level of the ascending wedge.

For me this breakout level is at $121 and $125, there is a one high at the $125 that must be taken into account too, so consider this range a test.

A hold at this level and this sector and ETF is looking very s...

$UBER

$UBER has lost is 50 Day MA today and is very close to testing its 200 Day MA next at $64.90

In the last update I warned of this decline and would likely be a shorters dream (tho we never short here)
If the 200 Day MA is not held as support, expect a drop down to test the 0.38 Fib first ...

$WULF

Hit the 1.618 Fib exactly at $6.51 yesterday and rejected today along with the market and the sector, this has worked out very well for us here and for current holders.

So wait for the pull back to complete for Wave 4 before considering adding again

Wave 4 target is always at the 0.38...

$VIX

$VIX has bounced strong today and is above its 50 and 200 Day MA after this week, we can see that it was consolidating between the blue lines at $14 and $10 since the end of April and has now broken higher, which has happened 4 times since the end of 2022.

Each time the $VIX has rejected at...

$SHOP TOP 20

That has been a rollercoaster week for $SHOP, first bouncing on the 0.38 Fib after it was upgraded by BofA, bounced to the 200 Day MA and rejected and has now sunk back down with the market to the 50 Day MA at $63.

We did not chase $SHOP when it bounced in the PM on Tuesday, we said to wait...

$AMZN TOP 20

$AMZN is below the blue support line and the 50 Day MA but this has happened twice now since April and each time it has moved to a higher high, even the route back to the Bezos selling line at $200 would give a tidy profit from here.

We can see that support was found on a support trend line...

$PLTR TOP 20

Well this is something now

Above the blue line at $29.30 now, no retest of the breakout level because this has just happened.

This is certainly bullish here making new highs, Wedbush refers to $PLTR as the AI Messi, gave $PLTR a PT of $50 today, which makes our Wave 3 target at the 1....

$VICI - WATCHLIST - POTENTIAL SAFE HAVEN -

$VICI for me is still the best real estate play when interest rates are finally cut.

With a Gross Margin of 995
and New Margin of 70%

This is a fundamental dream.

Chart looks good too and the price is back above the 50 and 200 Day MA and testing the top trend line now at $31...

$DELL - WATCHLIST -

This chart has been playing out brilliant for us

Calling the top at the 3 Fib at $178 and it has been on a strong descent since.

Losing the 50 Day MA and testing the 0.38 Fib yesterday at $123.

A lower low has been made here so technically the pull back can complete here and we ...

$CMG - RC -

$CMG is a company that intrigues me, a company that is now valued at $75 Billion which has effectively very weak barriers to entry but has done an excellent job expanding, keeping costs low and doing the simple things correctly.....I love the food aswell....but there is nothing stopping another c...

$CELH - WATCHLIST -

$CELH hit the $50.42 target like clockwork yesterday, a target I gave $CELH back in March when the price in the $90's

This is where the bulls need to step in now, the only support left in this yellow channel is at $48, this channel has been tested 3 times since 2022 and has held each time.<...

$CLSK

That yellow support line at $15 is a fortress!
Traders must be milking these rotations.

Back above the 50 Day MA and bounced 20% on the trend line again but needs to make a higher high above $21 to get out of this consolidation.

Holding above $21 and the top yellow line is the next...

$SOXL

$SOXL is painting a bleak picture now and it must be said that this is a 3 X leveraged position ETF, so will always look for volatile.

Price had pulled back just short of the blue line at $70 and has now made a lower low and lost the 50 Day MA which is not a good sign, the 50 Day MA would n...

$HAL

$HAL reports their earnings tomorrow before the market opens and it has been moving well leading up to this report.

The ascending triangle bottom line was lost at the end of May when the international pressures in the middle east started to ease off but this support level was recaptured las...

$AMD TOP 20

The Semi sell off yesterday was aggressive for a number of reasons:

• Rotation out of Tech/Ai stocks into Small Caps continued

• $NVDA lead this sell off and caused a ripple effect within its sector

• The US is considering more sanctions on Semi companies...

  2024-07-18 11:49:59 +0000 UTC View Post

HSI

The market continues to wait for details of any potential economic reforms from China's Third Plenum today, I am not aware what time this finalises at but I suspect something would need to be announced very shortly

'China stocks closed higher after struggling for direction on Thursday, ...