The Long Investor

$CURE

My broker does not allow me to buy this ETF, it’s simply not on their list, possibly the 3X leveraged position is the reason for this.

That being said, I would be considering a DCA strategy here as support has been found on the 200 Day Ma and the 0.5 Fib, making this a confluence level 2024-04-24 16:26:34 +0000 UTC View Post

HSI

It’s game time coming up for the HSI as it tests the upper channel level today.

Just above this level is the 200 Day Ma, we’ve had a near 6% jump leading up to this test, so this is quite high, there may be one more short pull back before the 200 Day Ma is tested properly.

I expec...

US 10 Yr

I believe this is the thorn in the markets side right now

The rate keeps increasing adding enormous pressure on the market, it slows the flow of money in and out of the economy and in some cases cripples sectors if the rates are too high.

I see another leg up here too is possible to t...

$SPY TOP 20

$SPY still has a bit to travel to test the 50 Day Ma (above)that we spoke about at the weekends update, everything is moving to plan as expected and this test will give us plenty of information.

Likewise on the $QQQ chart, a retest of the 50 Day Ma will also show us a retest of the $SQQQ ch...

$NIO TOP 20

The 20 Day Ma in red is aligning with the wedge breakout level here at $4.30

If the HSI and Chinese ADRs start flipping bullish and breaking out, $NIO could be carried with them and a resurgence from $TSLA could also help, like I said before, if $TSLA can hold $144 and reverse, it could sav...

$ADA

$ADA has done the first part correct and held the 0.618 Fib at $0.44c but is so far having trouble at its 200 Day MA and the 0.5 Fib at $0.51 which is not a surprise since this is a confluence level, saying that, a flip of this strong level to support is a bullish indication and I would expect th...

$BABA TOP 20

$BABA is back out of the buy zone already after a strong performance from the HSI this week and back above the $72 support level and above the 50 Day Ma.

Price is about to test the wedge resistance line at $74, a break above this level and hold and $BABA has broken out of a year long trend ...

$AMD TOP 20

We wanted to see $AMD hold at $144 and that’s what we are getting so far,

Still a lot more work to do here to confirm that Wave 5 is now active but getting back above the $165 support level and the 0.5 Fib will be a higher support and a higher high.

We are waiting for the exact same...

$PYPL TOP 20

$PYPL has managed to hold above the 50 and 200 Day MA and get a nice bounce on the 0.618 Fib.

Price is still its descending wedge now which is also a good sign, a breakout here and ultimately getting back above the blue line at $66.50 will give the bulls more confidence

I still belie...

$TSLA TOP 20

$TSLA did not have a strong earnings but this was expected and that may have been baked into the price too but the biggest surprise was Elon reversing his decision to refocus back on the Model 2 now, the low cost mass producing model.

Dan Ives from Wedbush was very vocal on the need for Elo...

$CLSK

Cometh the man, cometh the hour!

$CLSK needed to hold the green line and not only has it done this, it took off from $14 to $19 now.

Very impressive jump here and hold for Wave 4.

Only $COIN have I seen do this so tight.

$AMD and $INTC could be the next to do it but we'll ...

$ARM - RC -

$ARM has fallen down to earth, people were chasing this like crazy and the CEO played a beautiful game here.

He effectively held the vast majority of the shares locked up and supply was extremely tight, price squeezed over 100% in 4 days, holders began cashing out and the price dropped from...

$RBLX - RC -

$RBLX gets an upgrade from $JPM today to overweight and the price is up +4% in the PM now.

Still below the 200 Day MA but it is getting very tight in the wedge now so a direction must be taken shortly.

$JPM getting it the seal of approval may help it breakout to the upside and follow ...

$SPOT

$SPOT have released their earnings and initially the price fell by -5% in the PM and is now up +7% now but moving quickly.

I believe monthly users have missed estimates but $SPOT are considering raising their prices so this could easily offset the difference and I don't think anyone would h...

$YINN - RC -

$YINN has consolidated in this channel very well since the start of March, in spite of HSI's ABC count, $YINN did not pull back as much and consolidated,

Above the 50 Day MA now too and another test at the top line at $21.40 is possible next.

A break above this level and the 200 Day M...

$BLDE - RC -

$BLDE is up +19% today in the PM and I am trying to find information on why there is such a large bounce.

We can see yesterday that the 50 and 200 Day MA were tested and held, and the 50 Day MA has now crossed through the 200 Day but that would not cause such a large jump in the PM.

E...

HSI

HSI is just 1% from turning green YTD after being down -12% in Mid Jan, since then it has moved in an impulse structure.

Many people believe this is moving slow but it is not, this is how one of the largest exchanges in the world moves.

Slow movers don't get attention as much as parab...

$HOOD

Textbook from $HOOD so far, pulling back for Wave 4 on the 0.38 Fib which is also where the 50 Day MA is too.

What we want to see next is a series of higher highs and higher lows next to show signs of moving up Wave 5.

Getting back above the 0.236 Fib at $18.11 is also a positive move...

$FUTU - WATCHLIST -

$FUTU continues to move very well, pull back this month came down to the 200 and 50 Day MA which are both at the same level now and also at the 0.5 Fib, making this a very strong confluence level.

Price held here yesterday and up +2% in the PM now.

A retest of the wedge line again is ...

$SPY TOP 20

I have added the 1hr and daily chart above.

We can see on the daily chart that the price finished at $499 yesterday and the 200 Day MA is at $510, so we still have a long way to go to test the 50 Day MA which I suspect can happen during a strong earnings week.

But lets not distract ou...

LESSON - MOVING AVERAGES - $MRNA Case

I got a message from a member to say they were annoyed I got this chart wrong....I have attached the previous chart from a month ago, showing how perfectly this has been moving over the last month with our projection, so maybe we will take this opportunity to make a lesson.

I get that many ...

$PATH - RC -

I do like how $PATH is moving right now.

Wave 5 complete and we have a pull back down to the 0.5 Fib and the 0.618 Fib is at $17.

There is some weakness so far by losing the 200 Day MA but if the 0.618 Fib is held, this is not a concern then.

Failure to hold this level and $PATH...

$UBER - RC -

Are we starting to see a pattern here now?

Price action completes Wave 5 at a strong Fib level, rejected and now is pulling back.

50 Day MA is lost and Wave A is at the 200 Day MA at the 0.38 Fib....textbook.

I have left the higher 1.618 Fib level on the chart to show where the ...

$NET

How many charts are we seeing like this at the moment?

Charts that bounced extremely well in 3 Waves from the start of November but pulling back with the market now, in spite of the market moving higher over a longer period of time and in 5 waves.

The issue with only bouncing in 3 wav...

$SHOP

$SHOP is one of the best behaved charts in the market right now and so far we have seen a hold on the 200 Day MA to complete what we expect to be Wave A. A bounce up to the 50 Day MA next at the 0.236 Fib would suffice to complete Wave B over the next 1-2 months.

Under the 200 Day MA I expe...

$NU - RC -

$NU has followed the market nicely over the last 16 months and hit its previous ATH line for Wave 5 and started to correct and lost its 50 Day MA, so moving like the market now.

The 200 Day MA is at the 0.38 Fib level now so this would be a common confluence level for Wave A, this is where ...

$NIO TOP 20

$NIO initially started the day off fully correlated with $TSLA and moved down to $3.61 and the wedge bottom level again before rebounding and moving in opposite step to $TSLA now.

Up 3.5% while $TSLA is down 3.5%...a very large change of trend.

Price is testing the 50 MA on the 1hr ch...

$HAL

$HAL is holding on the 200 Day MA and in between the 0.38 - 0.5 Fibs, also needs to hold this level or the impulse subwaves break down as there will be an infringement in Subwave 1.

The 200 Day MA has been tested 3 times now and held each time.

$HAL is my hedge against Oil prices inc...

$PFE - POTENTIAL SAFE HAVEN -

$PFE has struggled since its $62 high in late 2021 and has been on an aggressive decline since, with one exception in the form of a dead cat bounce for Wave B.

It continues to make a lower low and is on track to hit the 24 year old support line at $22.

I have done some analysis on thi...

$SE TOP 20

$SE is a TOP 20 chart but I have not needed to upload this because of how accurate it has been following our count and there has been no changes.

Wave 1 for me is still not complete and the pull back since March has held nicely on the 0.38 Fib, meaning it has held for Subwave 4 of Wave 1. 2024-04-22 12:25:37 +0000 UTC View Post