The Long Investor

$XLV - HEALTHCARE ETF -

$XLV is back in the consolidated range after not holding the retest of the blue line at $143.

However, I am not seeing signs to be concerned just yet, the pull back needs to make a higher low and the 200 Day MA is at a very interesting spot now which makes it a confluence level at the 0.5 F...

HSI

Up 1.7% today after more policy changes from the Chinese Govt:

Reuters:

Hong Kong stocks jumped on Monday, as investors found comfort in China securities regulator's decision to promote the city's status as a global financial centre, although Chinese shares slipped.

2024-04-22 11:54:53 +0000 UTC View Post

$SLV - SAFE HAVEN -

For the people who can't buy commodities, $SLV is exactly the same as buying Silver.

We can see that both charts are moving identically

Note the 50 Day MA also at the 0.618 Fib too....only difference is the price

A pull back to $23.70 is the same as a pull back to $26 on our Sil...

$ETH

3 perfect abc waves pulled back here and found support on the 0.5 Fib leading up to the BTC halving event.

We can not ask anymore of a chart than this.

There has been positive moves on the 1hr chart with both the 50 and 200 MA flipped to support

So on the daily chart here we wan...

SILVER - SAFE HAVEN -

The Israel - Iran conflict does not appear to be escalating any further from both attacks and Silver and Gold are taking a breather.

We have been waiting for a pull back after testing the $29.79 level close to the blue line and the plan remains the same, a pull back in 3 waves to the green...

$LULU

$LULU has so far found support on its historical support line, going back to 2017.

The support line also cut through the 0.5 Fib too at $323, so I believe we could get a relief bounce for Wave B now and this could move the price back up to the 200 Day MA which is just below the 0.236 Fib no...

Lesson - Identifying a Down-Trend

$QQQ TOP 20

I wrote a short story under the $SPY chart so I am all out of energy right now as we wrap this evenings preparation up.

$QQQ is moving almost identical to the $SPY now after a very violent close to the week from $NVDA, losing $212 Billion in value, which brought down the entire sector.

$SPY TOP 20

I did not see a single account showing that the market would reject here but us, these are projects we were showing since October too and so far our projections have played out.

Apart from the Semi sector, all charts are moving as expected and we have been extremely accurate with our charts...

$TSLA TOP 20

$TSLA has everyone attention right now, a MEGA CAP cult following whos leader also owns X which we all live on.

Everything he does is scrutinised but we need to remember his brilliance.....a man who has created what he has is going to be different and I would not expect anything less.

$PYPL TOP 20

Like I said during the week, I am surprised to see $PYPL still holding strong here considering the rampage the US 10 YR has been on, moving aggressively higher, it cooled down on Friday with the market and this managed to help $PYPL hold its 50 Day MA and 200 Day.

It is getting tight here f...

$PLTR TOP 20

$PLTR we have been very patient with, we have only bought once and have an intention to buy 4 more times to complete this DCA strategy but we have not seen support hold convincingly yet.

The price has held the 0.618 Fib to finish the week but the 200 Day MA is moving up here to offer suppor...

$NKE TOP 20

$NKE needed to hold above $88 and boy did it and its had a very strong bounce.

The price did not manage to hold above the historical yellow support line but certainly held well this week compared to the market.

The 50 Day MA will be a massive test here above, we can see that since Feb...

$MSFT TOP 20

Many analysts had this moving higher in March but we maintained our conviction that it would struggle at the 2.618 Fib and complete Wave 5.

It has now rejected hard at this level and the moment the 50 Day MA was lost this week, it accelerated down, losing -5.5% over the last few days during...

$INTC TOP 20

$INTC I have added in 5 waves down here in red as a corrective wave because the price action came within $0.20c of the invalidation line on Friday after the sector sell off.

$INTC is not the leader in this sector and it falls under the influence of the larger hitters like $NVDA, it has also...

$GOOG TOP 20

Like I said last week, I took a bold step suggesting that $GOOG was in Wave B and would reject staying above the blue line, it managed to hold on this level to end the week but I do not expect $GOOG to hold this level.

I would be concerned holding $GOOG through earnings, as the last two ear...

$F TOP 20

Cyclicals took a hit this week and the US Yields staying high has taken a big hit on this sector, people simply delay upgrading their cars when rates are high.

Price just about managed to hold on the 200 Day MA this week and back in the channel but if the impulse wave does not continue, whi...

$DIS TOP 20

$DIS like $COST needs no further comment, it is behaving as textbook as they come and it has been a joy to chart.

Lost the 50 Day MA this week too and is moving in sync with the market too.

Give this time to complete its correction and it will be attractive again to buy.

$COST TOP 20

A lot of our charts this evening have no changes and have not had any changes for sometime now as we have been accurate I believe on 85% of our Top 20 charts which I am proud about.

$COST continues to behave very structurally and we also got to see a retest of the 50 Day MA from below this ...

$BTC TOP 20

$BTC has passed the halving event with zero impact, in fact it held the 0.236 Fib at $59.6k

The big test now will be if $BTC starts to move down with the market, this would not be a good sign for bulls who have said that $BTC is a safe haven and the new digital Gold (as Gold pushes to ATH's...

$BABA TOP 20

$BABA is getting to those levels that we saw when $META was at $80's, we knew it was undervalued and held down but people were still cautious and then missed out on a 400-500% climb

It also continues to move within this tightening wedge downwards.

$BABA is also in my Buy Zone now too ...

$AMD TOP 20

$AMD is really in a tricky position right now.

It finished the week right on the 0.618 Fib and above the 200 Day MA but the moment $NVDA lost its 50 Day MA this week, it nosedived -10% which is $200 Billion decline, this is not healthy to see....$NVDA has gone parabolic over the last year b...

$AMZN TOP 20

This has been textbook for us.

We waited for months for $188 to hit at the ATH line and the price rejected immediately after hitting it and in the space of just a few days, the price action has decreased lower than where I sold 40% of my position......where a lot of that profit was put into...

$ABNB TOP 20

$ABNB is the one chart today that I can't chart any other outcome because I do not see it. The impulse wave can still be valid even if the price action moves down to the 0.618 Fib at $145, because this does not infringe upon Wave 1.

$ABNB also only IPO'd in late 2020 so its wave structure i...

$AAPL TOP 20

As always we start with $AAPL, not only because it is alphabetical leader but it has been the market leader for the last 20 years and leading the MEGA Caps right now through this correction.

Make no mistake, this is certainly in a steep descent and it helped us confirm that the market was t...

$DBC - ETF - COMMODITY INDEX

$DBC was just brought to my attention and it was last uploaded in July and still following our projection but still needs to break above its 200 Day MA which it has been testing this week.

Flipping this to support at $24 and we could see a run to $30 next.

I will also put this on watc...

$WM - RC -

$WM has had an excellent couple of years, moving from its Covid Low at $85 to $214 in March '24.

However, it also looks like it is moving with the market now.

Gates and many large fund managers are big fans of this stock and I can see why, its consistent and moves strong.

But I ...

$BYON - RC -

$BYON has had a difficult couple of weeks.

Price broke out of its channel that it was in for 2 years leading up to earnings and then posted a negative report and on the pull back to test the channel top line, it sank and sank hard.

Price has also lost the 50 and 200 Day MA now but fin...

$REMX - POTENTIAL SAFE HAVEN -

I have been researching this weekend for more Safe Havens and the VanEck Rare Earth/Strategic Metals ETF has caught my attention but has still not reversed yet.

This has an ATH of $347 and is currently sitting at $50.

We have seen some attention lately towards commodities and precious...

$IWM

$IWM finished green yesterday but really suffered this week and lost its 50 Day MA like the $SPY and $QQQ, it also came close its 200 Day MA....so although we saw rotation out of the Mega Caps on Friday, it is not transferring into Small Caps but more reliable Large Caps instead....this may trick...