The Long Investor

$PFE

$PFE back testing the 50 Day MA, it previously tested this level at the end of December and showed signs of holding above this resistance but it never held and dropped back down again......however, the pull back managed to stay outside of the wedge, which it hasn't been able to do in a very long ...

$ONON

$ONON and $LULU are pulling back nicely now and we are watching for $LULU to hold on its 0.38 Fib at $428.

$ONON we'd like to see a retest of the wedge break out level between $30 and 29, a hold here and we have a confirmation of support and fits nicely with our Wave 2 hold too.

Watch...

$KO - FORMER TOP 20 -

Another positive beat on earnings from Mr Consistent and the price has tested the top of this channel once more.....as it has done 5 times now since March 2022 and so far it has rejected trying to break out.

Price is still above the 50 and 200 Day MA, which are at the same point right now.<...

$NWL - RC -

Are we looking at the clearest cyclical chart on the market right now?

Dating back to the mid 80's, this has consolidated between $55 and $4.5 and it looks destined to test the bottom blue line again.

Their fundamentals are not terrible but they are not making profit again and for a c...

$DOTUSD - RC -

It has been awhile since I have uploaded this or looked at it but it looks like its been following out chart since its last upload.

The chart also looks very similar to $ADA and $SOL

Comfortably above the 50 Day MA and the First Target and I believe a test of the Second Target is inev...

$EWZ - BRAZILIAN MARKET ETF - SAFE HAVEN -

On the weekly chart, there was signs that $EWZ was breaking out of this long resistance  line since 2011 at the end of 2023 but on the retest, it did not hold above the yellow line, however, it is now testing the 200 MA on the weekly chart and we can see that the 50 MA is also there for supp...

$ELF - RC -

$ELF chart has been going to plan here and we got the continuation of Wave 5 from the positive earnings beat.

We can clearly see a tight ascending wedge here in Wave 5 too, which is very common sign for a Wave 5....meaning we can expect a corrective wave next as buyers start to dry up and p...

$XLE - RC -

$XLE chart has not changed since the last upload and both the bear and bull case counts are available on the chart as there is mixed views here.

One being the bullish Cup and Handle and Wave 5 not completed, but also we can see a large ascending wedge in yellow which is also a bearish forma...

$DNOPY - RC -

$DNOPY has not been on the exchange for too long, added at the start of 2020, but has enjoyed a gradual slope upwards since joining.

We can see that it has formed a large ascending triangle too since October '22, with the top line at $62.87.

A break above this level and I have added i...

HSI

Has finished Green for the day and this ascending triangle is looking like a breakout is imminent here.

The 16600 level above is the big line for us to see crossed, this gets the HSI out of the downward channel and above the historical green line which has been in place since 1996.

2024-02-20 11:27:51 +0000 UTC View Post

$ADBE - RC -

$ADBE had a difficult day on Friday, wiping $20 Billion from its Market Cap as it could not hold its 200 Day MA and the share price sank.

The only addition to this chart is the correct wave and amber Fib levels.

We can see that the price action has gone above the 2 Fib already for Wav...

$TSLA TOP 20

We highlighted this Inverse Head & Shoulders potential pattern after the pull back held the 0.618 Fib at $182 last week and it bounced 9% since then, which is impressive, considering the delicate knife edge that $TSLA has been on.

Losing that higher low at the 0.618 Fib and $TSLA was on...

$SE TOP 20

$SE has been enjoying itself lately and it has been overdue, I have uploaded this chart a number of times during the week so I think we are comfortable with its movement now.

Conveniently Wave 5 is showing complete at the 200 Day MA, which is also our blue line from October '23.

Direc...

$PYPL TOP 20

I would be lying if I said there was not a concern that $PYPL can not go lower and make a lower low below $55.70, since the price is back into the red channel, after rejecting getting out of it at its earnings release.

This has knocked $PYPL back but the fact remains: $PYPL is undervalued a...

$PLTR TOP 20

The blue range showing the earnings jump is looking almost complete now, it shows a top out at $26.

So I have added in the amber fib support levels to show potential pull back levels.

An ABC pull back to the 0.5 Fib at $20, still puts people in a position to benefit from a 100% jump t...

$NKE TOP 20

$NKE started the week strong after they announced that they were cutting jobs again and the price action jumped to the 200 Day MA and rejected, it pulled back slightly and tested again.....but the 50 Day MA is also there to reinforce this resistance level too, so if the Bulls are going to break o...

$INTC TOP 20

$INTC continues to show a slow drift up and the 50 Day MA remains in the way here, so this is a big test for $INTC bulls at $45.80.

If there is another test of the blue line at $42.36 and it holds, this will be the 5th test of support and a buy signal for me.

My Wave 5 target remains ...

$F TOP 20

$F chart is going against my opinion on the market and we have been in this situation before so I will just let the chart do the talking here.

There is not denying that the chart is looking healthy here now, holding back above the blue line at the 0.618 Fib, the price action is now back abo...

$DIS TOP 20

This is drifting higher in an ascending tightening wedge which is also common in Wave 5 as buyers start to dry up, so I have Wave 5 completing at the 2 Fib at $114....this is a standard Fib level to complete Wave 5 and will not be extended finishing here...which is why I have added in the higher ...

$COST TOP 20

We spoke last week about $COST already being in extended territory now, as it is above our Second Target and above the 2.618 Fib and we have Wave 5 set at the extended Fib level at 3.618 at $765.....bare in mind that that this can reject at any stage now, especially if the market decides to pull ...

First Half of the Top 20 List uploaded

I will upload the second half of the Top 20 list tomorrow night as I have two flight tests in the simulator tomorrow and on Tuesday that I must prepare for now.

I wanted to get the Mega Caps and the market ETFs uploaded tonight so members can see where we are in the market right now.

...

$MSFT TOP 20

For us, $MSFT is the only Mega Cap that appears to have finished its Wave 5 now, exactly in 5 waves and finishing not extended in between the 2.27 - 2.618 Fib levels.

$MSFT has been the perfect example of a chart following EW Theory all year so it is not surprising to see it continuing to b...

$GOOG TOP 20

$GOOG is not quite in the same situation as $AAPL, as it is battling to hold its 50 Day MA, which is comfortably above its 200 Day MA, whereas, $AAPL is battling with its 200 Day MA, which is a much bigger determination of a trend.....the 200 Day MA, is the difference within being in a bullish tr...

$ABNB TOP 20

$ABNB had a very interesting week because it reported its earnings and showed a bad EPS which was down to a once off tax payment that was expected.

Retail I assume sold in panic and the price dropped to the 50 Day MA, (also a possible stop loss raid) and once the price came close to the 50 ...

$AMD TOP 20

$AMD is not showing signs of topping out either just yet, in fact it is looking like it is primed for a melt up next.

This week we saw a fake break down out of the wedge to test the blue line and bounced immediately, to then breakout of the wedge to the upside.

The blue line has been ...

$AAPL TOP 20

$AAPL concerned a number of people of Friday because it finished below the 200 Day MA but I have circled on the chart where it has lost the 200 Day MA since October and recovered very quickly, so this is not a reason to sell but it is a reason to make a plan.

If the 0.618 Fib at $178 is los...

$BABA TOP 20

I want to be absolutely clear here.....I will not be trimming my $BABA position if the US MARKET corrects, $BABA has nothing to do with the US Market and is heavily correlated with the HSI as both charts are following each other perfectly.....$BABA is in no way following the $SPY or $QQQ.....so m...

$AMZN TOP 20

I am being optimistic here with $AMZN for one simple reason, it has lagged the market now since October '22.

It is still down considerably from its ATH line at $188 (while the market and other Mega Caps have all hit their previous ATH lines) and I believe its moat and revenue with increasin...

$QQQ TOP 20

$QQQ commentary is almost identical to the $SPY commentary, they are moving in sync and I believe Subwave 4 is not complete yet either and there is still one more leg up to complete Wave 5.

I have been very clear on this market movement for the last year, especially calling for Wave 4 compl...

$SPY TOP 20

Let's start the TOP 20 updates with the market $SPY.

A number of indications are starting to pop up to show that people are starting to get cautious of the impending correction.

Bill Gates selling a considerable amount of his positions and concentrating into value stocks is a big one ...