The Long Investor

$ENPH - WATCHLIST -

I am watching this set up closely here.

We said last week that the ascending triangle formation, with a Wave 2 support inside it at 0.618 Fib, is a very strong bullish set up once its breaks out of the triangle.....check out the $MRNA chart to see how this looks.

The price is now abov...

$IBKR

Is now within touching distance of our Wave 3 target at the 1.618 Fib at $132.

Those who are in here and have followed this chart for the last 12 months or so will know how consistent both the price action and chart has been with no changes here.

As always, getting to the 1.618 Fib we...

$CROX - RC -

Moving in this bull case now and testing the previous high now at $150, which was the high from the start of 2023. Price previously rejected at this level and spent the last year or so descending but the set up now looks a lot stronger and I would be leaning on the side of the bulls taking this a...

$MPWR - RC -

Requested chart here but a really nice looking chart with a number of bullish indications.

Ascending triangle breakout, with a retest of the breakout level and using the 200 Day MA to reinforce the higher support level too.

Wave 2 also held between the 0.5 - 0.618 Fib which is a hallm...

$VRT - RC -

A number of requests have come in for this and this is as parabolic as you will see in the market right now and not somewhere you should be chasing.

Price was at $7 in Mid 2022 and now at $109.

Phenomenal move in such a short period of time

We had previously charted this and sho...

$NIO TOP 20

$NIO finished the week on the 0.5 Fib and 50 Day MA at $4.80, a level we had been watching all week and during this pull back.

Impressive numbers out again this week which puts $NIO on track to hit 20k for the month of May

The market will likely appreciate $NIO hitting targets but thi...

$DAL

$DAL did something it hadn't done in about 5 months last week, it pulled back by more than $3's ha, it has been incredibly consistent and even with this small pull back, there is no change to the structure or count.

I believe this is still in Wave 3 and can complete at the 1.618 Fib at $56...

$HIMS

Up +4% in the PM now after $HIMS follows through on a +6% today on Friday.

Another chart that has been moving very well for us and we can see clearly on this chart that support was found between the 0.38 Fib and 0.5 Fib on Friday and bounced over 11% now.

No changes here to the chart ...

SILVER

So far we have had the perfect retest of the $30 level and bounced

We would need to see a higher high next above $32.56 to show that this pull back to test the historical resistance level of $30 is now complete.

Remember, our blue line here is a +10 year resistance line at $30, so ge...

$SPY TOP 20

I have added in the white fib levels for this Wave 5 too, like on the $QQQ chart and again they align with incredible accuracy.

The 0.38 Fib aligns with the green resistance line which caused the price action some issues in March and the 0.5 Fib aligns with the 50 Day MA now too.

So a...

$QQQ TOP 20

$QQQ and $SPY have run for a month now leading up to $NVDA reporting this week, it finally decided to cool down, as the positive earnings was likely baked into this aggressive run.

A pull back here to the 0.38 Fib would bring the price action down to the $444 level, which was a resistance l...

$TSLA TOP 20

$TSLA has now bounced on the 0.5 Fib and the 50 Day MA at $168 and holding support above the larger 0.618 Fib on the white line.

Bulls have past the first test of holding support above the 50 Day MA but will need to make a higher higher next, above the post earnings high to confirm that thi...

$SE TOP 20

I think it is possible that I can eliminate one of the impulse waves next week as the price has been following the first green trend line incredibly well.

The pull back for Wave 2 on the 0.38 Fib was short but it was a strong enough confluence level to propel this higher and it has been bui...

$PLTR TOP 20

The probability of $PLTR retesting the 200 Day MA is increasing here, in spite of how slow it has been but it continues to drift sideways, as it waits for the 200 Day MA to move higher.

I am not seeing any weakness here of the structure breaking down or losing the 200 Day MA and the fundame...

$NKE TOP 20

The 50 Day MA continues to dominate the direction of the price action and consistently behaves as a resistance level over the last 6 months.

Shorts are probably enjoying this reliability from the 50 Day MA too.

So when a breakout does come to the upside, it will be a strong indication...

$MSFT TOP 20

$MSFT has been the steadiest Mega Cap over the last 2 months and has again regained its 50 Day MA with no immediate threat of losing this level once again, it has also made a new ATH too.

If $MSFT continues to follow the market, there should be no issue finishing its Wave 5 at $456

An...

$INTC TOP 20

$INTC is falling out of sync with the other Semi's in the sector and the market

Testing the 0.78 Fib again to end the week at $30 too.

Losing this level and $INTC is on a fast track route to Wave 5 in red level at $24, just above the buy zone, which makes $INTC attractive again and un...

$GOOG TOP 20

$GOOG is using the trend line to continue moving higher in a controlled manner, it also continues to behave the strongest out of our legacy Mega Cap favourites, $NVDA is the front runner of this market now however.

No threat of losing the 50 Day MA here either and the looks to be very littl...

$SHOP TOP 20

We sold 20% of our holding in $HIMS at $20 to buy our first position in $SHOP at $57.40, $HIMS pulled back to $16 after this and $SHOP maintained its level for the week, making this a good use of our profits in $HIMS and now our entire position in $SHOP is profits from $HIMS.

This is where ...

$PYPL TOP 20

We observed $ARK building a position in $PYPL this week which was a slight surprise......a surprise because she was accumulating at a healthy position, above the 200 Day MA and towards the end of our Wave C....which is not something they typically do.

$PYPL is in an accumulation phase right...

$DIS TOP 20

$DIS is approaching a strong confluence level between the 200 Day MA and the red trend line shortly at $97.

The pull back has been sharp and fast, which doesn't really matter if it means it can get its corrective wave complete and out of the way before the impulse wave continues higher next...

$COST TOP 20

$COST finished the week at the 2.27 Fib at $808 and is looking very extended now in this Wave 5 and has not had any meaningful pull backs since April now.

Again this is not somewhere I would be looking at getting in at and the fundamentals have also gone extended.

Wait for the inevita...

$BTC TOP 20

I uploaded $BTC on Friday with the bearish count and in my last upload, I uploaded the bullish count in the short term.

It is worth remembering that both long term views of $BTC are bullish and I see the price going to $125k over the next 12-18 months.

Bulls should prefer to see the A...

$BABA TOP 20

$BABA is a chart we uploaded regularly during the week so I believe we are all up to date here but it is worth reminding that $BABA is at the top of my buy list right now, as the price action pulls back to a very strong confluence level of 0.5 Fib and the 200 Day MA at $79.

The 50 Day MA is...

$AMZN TOP 20

Interesting here from $AMZN, finished the week below its 50 Day MA which seems out of character for the Mega Caps right now.

The double top is also something we need to monitor too.

The 50 Day MA could easily be recaptured to start the week off on Tuesday, so very little should be don...

$AMD TOP 20

Mixed week for $AMD, started the week strong as the market waited for $NVDA to report and when they did, it got pulled up with it, initially up +3% post earnings and looked strong, when the market started its sell off on Thursday, $AMD was not spared and rejected back below its 50 Day MA, so this...

$ABNB TOP 20

$ABNB dropped below the $145 line this month but we can see that the 200 Day MA has been an effectively support level since dropping below $145 and this sits between the 0.618 - 0.78 Fibs

We have shown over the last 18 months that $ABNB has a strong healthy relationship with the 0.618 Fib a...

$AAPL TOP 20

I hope everyone is enjoying their long weekend, I will add half of the Top 20 list this evening and the remaining tomorrow and we'll be prepared for the week ahead.

Many believed that after $NVDA reported, this would give the green light to the market to push higher but the reaction was ini...

Technical Analysis

Thoughts to consider

$ABCL - RC -

A request has come in for this chart but there is very little that can be done here while the price action is in this steep descending wedge.

We can see that the 50 Day MA has been mimicking the top wedge trend line, so this is a strong resistance level.

They also missed on their earn...