The Long Investor

$ETH

Very strong response from $ETH over the last 12 hours and managed to break out of this triangle....the triangle is not pretty but it is valid and we have a breakout now.

The price burst through the 20 and 50 Day MA and broke out of the triangle which was a very bullish move.

What I wo...

$SPY TOP 20

I spoke in detail on the $QQQ chart about what I expect from earnings and CPI this week so I will not repeat myself here because I know most members read both of these charts together, so it is worth reading the commentary under $QQQ if you only choose one each week.

$SPY is also at an impo...

$QQQ TOP 20

$QQQ and $SPY are behaving very similarly now....both are struggling to hold above their respective support levels and the Fib levels are behaving like resistance levels now.

$QQQ finished the week just resting on the 50 Day MA, with a test of this level twice.

A loss of this level wo...

$INTC TOP 20

Big breakdown this week from $INTC because they reported that their Foundry department had lost $7 Billion, which is more than estimates.

They released this information 2 weeks before earnings to absorb this impact....it was certainly a tactical move but in the short term, it has sunk the s...

$TSLA TOP 20

What an emotional rollercoaster it was for $TSLA on Friday.....Reuters announced that $TSLA had scrapped its low cost model that was widely anticipated to help grow $TSLAs numbers....only to be countered by Elon, who said their report was a lie.

Reuters report sank the share price and it wa...

$PYPL TOP 20

$PYPL is still in this bullish triangle for Subwave 4 but has not attempted to recapture the blue line again at $66.50....which is not much of a surprise considering how hard the 10 YR jumped this week and is looking like it can still push a little higher, especially if CPI comes in hot this week...

$NKE TOP 20

$NKE is at its red line limit now, which was the previous low from October....$NKE appears to be under threat from a resurgence from american apparel companies and new entrants into the market like Vuori, which I just came across the other day and was really impressed with their line....and appea...

$F TOP 20

$F was really starting to break away during the week but cyclicals got a hit hard with the rest of the market on Thursday and Friday, we can see the same on the $ABNB chart too, where the strong upward trend is needing a retest of support again.

Exact same here with $F, finished the week re...

$DIS TOP 20

How many times do we see the ascending wedge, which is a bearish formation, breakout to the upside, only to come crashing back down, signalling a fake breakout.

This is very typical in Wave 5 as people chase believing a chart will continue moving higher.
The 2.27 Fib has been lost now, s...

$COST TOP 20

Perfect retest of the 0.23 Fib here so far and found support but I would like this to continue down more as shown to at least the 0.38 Fib before completing Wave A, so we can get the Wave B bounce, followed by Wave C, where I expect a lower low below the 0.38 Fib to at least the 0.5 Fib at $600.<...

$BABA TOP 20

I think we already know what I am going to say here....

Still a move sideways this week above the blue line as the drift sideways continues until we reach the yellow trend line.

Earnings is not expected until the end of May too, so we can not expect earnings to make a difference here....

$ABNB TOP 20

$ABNB has pulled back this week in search of a support level, its rise has been so strong since breaking out of the ascending triangle that in spite of a decline from $170 to $160, there is still some distance before a test of the 50 Day MA at $156, which is just above the ascending triangle supp...

$PLTR TOP 20

We finally got back into $PLTR this week as it bounced on the 0.5 Fib perfectly and aligned with our chart.

This was our first buy and we have a number of more buys to complete this allocation, so I am open to this pulling back further to add more to my DCA.

The 200 Day MA at $18.30 c...

$MSFT TOP 20

There has been no changes here for exactly 1 month now as $MSFT still struggles with the 2.618 Fib which is an important Fib level to complete Wave 5 at.

There was some signs throughout this time that $MSFT could complete one more leg up to the 3.618 Fib at $458 but as time as gone by, its ...

$GOOG TOP 20

I was very interested to see how this chart would move this week because it was a big call for me to suggest that there would be a double top because this is not easy to do.

But so far we are seeing a clear rejection here trying to stay above the ATH blue line, which is a double top right n...

$BTC TOP 20

$BTC has rejected now at the $69k level, which is an important resistance/support level, there are still two sides at play here...as the price could not hold above this line on the retest and also rejected at this line when it tried to recapture the level again over the last week...but

The ...

$AMZN TOP 20

The one Mega Cap that keeps pushing higher while the others have already started their pull back or desperately trying to hold onto support.

The big difference here of course is that all the other Mega Caps had reached their ATH line again, which is needed for an impulse wave 5 to complete,...

$AMD TOP 20

$AMD I spoke about at length on Friday so I won't labour on here.

It needs to find support soon and the $160 level at the 0.5 Fib is looking like the obvious next test now, since losing the $176 level on the 0.38 Fib towards the end of the week.

I have added in the amber line now to s...

$AAPL TOP 20

$AAPL and $TSLA are the two Mega Cap stocks in clear correction waves right now and if both stocks can pull back further over the next few months to our Wave C levels, both present long term hold opportunities for us.....and we can accumulate. But we will see on the $GOOG chart too, that it is go...

$IHI - RC - MEDICAL DEVICES ETF

This is a requested chart and I do like the look of it.

Particularly the 2 year pull from the Top of the Wave 1 high to exactly on the 0.618 Fib....how many times do we see this happening?....the 0.618 Fib is the Wave 2 king support level, so when we see a hold here, it has our attention. 2024-04-06 13:00:18 +0000 UTC View Post

$PWR - RC -

$PWR has had a monster run since 2020 from $25 to $263 today and is looking to be in Wave 5 now and has broken out of this megaphone pattern this year.

So this is showing extended with bulls getting aggressive over the last few months.

I have added in potential resistance levels in gr...

$DOGE

With $DOGE I can see 5 distinct waves up and a pull back now below a critical support level which has now been lost....we are seeing this on the $BTC chart now too.

Watching for the ABC correction now.

$ADA I believe is a little further on compared to $ADA so will likely complete its ...

$TMF

$TMF is the 20 YR Treasury Bull 3 X and looks set to finish the week exactly on the 0.618 Fib at $49.64....the close is almost too perfect.

As we open next week into the start of earnings season and Banks kick off the season as usual.

This is where we expect a reversal, on the 0.618 F...

$TSM

$TSM is the clear front runner now from the 3 Semi companies that we follow.

$INTC showing a breakdown and we will cover this in the Top 20 review this weekend and $AMD is still in its impulse structure but struggled yesterday.

$TSM has not shown any such weakness and has pushed highe...

$DG

$DG has so far being doing what we expected of it and holding the $159 level on the trend line.

Let's see if the price can hold above this level to finish the week and may be in a good position to move to the upside next week as shown.

Our Wave 3 level has not changed at the 1.618 Fib...

$RDDT

$RDDT has found support again on the blue line, making this the 5th time it has held support here since its IPO on the 21st.

We can also see that it has broken out of this wedge too to the upside, so I have added the targets above for those who wish to get in on this again for a quick swing...

$ADA - WATCHLIST -

$ADA has been behaving brilliantly and this is what we love to see.

Little more down to the 0.5 Fib at $0.51c and we can expect to see this holding....the 200 Day MA is sticking out like a massive sore thumb right now and this won't be lost on the sector.

I'll watch it closely

$SQ - WATCHLIST -

$SQ and $PYPL are just dying for the 10 Year to reject and come down and these two rip.

Both are waiting and holding for the right moment,

$SQ now has the perfect pull back to test the top of the channel and so far holding, which is also in between the 0.5 - 0.618 Fibs, which is the p...

$BB - RC -

$BB got hit hard yesterday....it finally broke out of this falling wedge of doom, only to fall back into it today, tough break for $BB but it can always make another attempt to breakout out again....earnings were released on Weds and they were certainly an improvement on estimates.

If $BB c...

$NVO - RC -

It is very difficult to say that $NVO has finished its Wave 5 as their growth continues to excel due to their exposure to the fat reduction market that is taken over the US and the western world.

This can still go extended but I can see 5 waves for now and there has been a notable pull back...