This is quite a common looking chart at the moment......a strong rise in 2021 for its impulse move and then an aggressive decline for 2 years, followed by a long consolidation sideways for 2023.
This is on so many charts: $TDOC, $SQ, $PYPL, $ZM.....and is pretty much on a lot of what $ARK h...
2023-10-16 12:55:49 +0000 UTC
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These two books will drastically help you control your triggers and take control of your emotional responses to investing and the market.
The Daily Stoic - you only need to read one page per day.
The Chimp Paradox - is a very easy to read book that explains how the brain works a...
2023-10-16 12:32:08 +0000 UTC
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These are my Top 4 books to learn Technical Analysis.
2023-10-16 12:29:13 +0000 UTC
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I have added our Elliott Wave Theory Course Lessons to the Collections tab on the main page, each lesson will be added in here going forward so you can quickly access all lessons in the one place.
I will aim to add more educational information in the Collection
2023-10-16 12:20:44 +0000 UTC
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$LULU is up over 5% in the PM now after it has been announced that they will replace Activision on the S&P 500 after their merger with $MSFT.
This is certainly a positive development and it is in line with the positive outlook on their chart.
In our last upload, we said that we ha...
2023-10-16 12:01:36 +0000 UTC
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$NIO finished green for the day on Friday after being red for the majority of the day but had a late strong finish, possibly from shorts closing into the weekend in case there are any more positive stimulus announcements over the weekend.
And there was another announcement from China early ...
2023-10-16 11:56:44 +0000 UTC
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$PLTR had a rough day on Friday but so did the market and it has also ran from $13.70 to $18.40 without taking much of a break so a slight pull back is not much of a concern.
So the chart uploaded now is the same as the previous one I sent, and if the conflict in the Middle East accelerates...
2023-10-15 20:15:57 +0000 UTC
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I have uploaded this a number of times during the week now too, but I have added in another potential impulse wave here as double bottoms can be slightly misleading about where the impulse wave started.
So the second impulse wave goes right up to the gap fill complete at $56.
There wa...
2023-10-15 20:12:06 +0000 UTC
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Big week for $TSLA this week, earnings report on Weds after the market closes and we can see what happened after their last report, the price fell from $300 down to $211 on concerns of their margins.
Further concerns of these margins and the price could come down to the 200 Day MA at $210 w...
2023-10-15 20:08:01 +0000 UTC
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What I have said under the $AAPL and $MSFT chart tonight represents what is needed to be said here too.
It is difficult to say that Subwave 1 is now complete so we will see how this develops as the week goes and expect Subwave 2 to come in shortly for this Wave 5.
I have been very imp...
2023-10-15 20:03:51 +0000 UTC
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Some confusion during the week that $PYPL lost the red trend line but I think people mistook this for the blue line, which is a line I added as the dimensions of the Buy Zone, this blue line has not impact on the share price, the red wedge trend lines are behaving as the support and resistance li...
2023-10-15 20:01:05 +0000 UTC
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$NKE is still following our first green impulse wave and has continues to move strong.
We are are still waiting on the pull back to come and make a new low to confirm that that bottom is in and we can eliminate the second impulse wave but for now, we do not have that so we will need to watc...
2023-10-15 19:54:50 +0000 UTC
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We can again see that $AAPL and $MSFT have been tracking each other perfecting here and again we can see that this bounce from Wave 4 has already wiped out 2 months of declines and the price is back above the 50 Day MA again now too.
It is unclear if Subwave 1 is now so we will see how it o...
2023-10-15 19:08:16 +0000 UTC
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Continuously breaking hearts here and I am growing irritated with this stock and that is why I suggested we possibly drop $INTC from the Top 20, as we already have $AMD exposure to the Semi industry.
I am suggesting adding $V or another growth stock with 10 X potential, so if there are any ...
2023-10-15 19:04:15 +0000 UTC
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$GOOG is giving me the same vibes as $AMZN did before it pulled back and came all the way down to $122.
It has made a new high here in this potential Wave 4 but has since pulled back below the yellow line.
Earnings are during around the 24th of October so let's see if this plays a fac...
2023-10-15 19:00:47 +0000 UTC
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I said mid week that the longer this strike continues, the more it damages the share price and it is starting to slip now as the heat gets turned up, I believe UAW are starting to be more aggressive and have started downing tools.
The yellow trend line is an important level to now at $11.50...
2023-10-15 18:18:02 +0000 UTC
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$DIS has been showing positive signs all week and broke out of its long wedge and went above the 50 Day MA too but the big test is coming up now, staying above the wedge trend line at $82.50.
$DIS has not been able to do this all year, so achieving this now will be a big statement this week...
2023-10-15 18:13:48 +0000 UTC
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Still comfortably above its 50 and 200 Day MA and looks solid and strong here as usual.
Ascending triangle looks more concentrated now and we know this is a bullish formation.
So what the bulls want to do now is break above the $571 line and turn this line into a support line and this...
2023-10-15 18:10:32 +0000 UTC
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Right now the price is caught between the 50 and 200 Day MA on the daily chart, the real question now is, what is this waiting for?....does it start moving higher with the market now?....it has moved off its previous low from early Sept from $24900 to $28500 high, so a move has been made, so it n...
2023-10-15 18:07:58 +0000 UTC
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I have covered $BABA at length now and I think we all know where we stand here, it has moved sideways for the last few weeks so there is little to add here now.
It has held the 0.78 Fib now a couple of times and we want to see this maintained.
I want to see the market absorbing the st...
2023-10-15 18:04:22 +0000 UTC
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$ABNB had an interesting week, it hit the 200 Day MA 3 times and then bounced from $122 to $132 and has since pulled back, it may test the 200 Day MA one more time at $123, another hold here and this is a clear buy signal again and I will not ignore this signal either.
Remember in May when ...
2023-10-15 16:37:56 +0000 UTC
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$AMZN is my largest position and for a number of reasons.
Those who were here in August when I said that $AMZN would come down to $120 and when the earnings came in it started to drift higher, would know that I did not give up on it as we knew Wave 4 had not come in yet, it wasn't pretty bu...
2023-10-15 16:32:05 +0000 UTC
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I added the $AMD chart on Friday and announced my plans if the share price was able to pull back into the white circle and it did towards the end of the day, so I added my first position.
My aim is to buy 4 more times, if it can decline again and as it moves higher.
My strategy never ...
2023-10-15 16:26:00 +0000 UTC
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Starting with $AAPL in the Top 20 list each weekend seems appropriate, it is the dominate company and leader in terms of market cap, it may drag the market up with it too.
We can see on the chart that the bounce from $167 to $182 in 10 days has been really impressive and the price at $182 b...
2023-10-15 16:18:39 +0000 UTC
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$BLK beat on earnings today by 30% but they missed only slightly on revenue and the stocks is down -2% for the day so far.
I believe the share price would have continued down lower regardless, as will be the situation for $BAC.
But if $BLK can find support on the blue line at $577 or ...
2023-10-13 19:43:54 +0000 UTC
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$DNA held the last defending Fib level for support today exactly, the 0.887 Fib is at 1.58 and the price held this price today.
$DNA is making a habit of pushing the bulls to their limits.
Last week it hit exactly at the previous low from August too, keeping the structure in place too...
2023-10-13 19:22:04 +0000 UTC
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Not in good shape here and was struggling before the analysts downgrades came in today.
My chart hasn't changed here nor has the plan.
I wouldn't go near this until we at least see how it handles the green Fibs at $323 or $285.
Failure to hold these levels and the worst case sce...
2023-10-13 19:16:38 +0000 UTC
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We need to be aware of the risks here for $ZM, it has really struggled to try and get out of this channel all year and although we were seeing continue highs and higher lows since May, since Sept $ZM has not been able to keep its structure and when it failed to stay outside of the channel on the ...
2023-10-13 19:06:56 +0000 UTC
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Bulls are trying their hardest to defend the $5 level and again saved it from going below $4.99 today.
Let's see how long they can defend this line.
$LCID needs a catalyst now to try and turn this around, I think their CEO's salary needs to be addresses too, the highest earning CEO in...
2023-10-13 18:44:32 +0000 UTC
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$EH is having a positive day after receiving Type Certificate for Passenger-Carrying Unmanned aircraft in China.
The share price was up at $25 at one stage but now has pulled back to more reasonable levels at $19.50, still 14% up so far for the day.
$EH has always been following our i...
2023-10-13 18:33:14 +0000 UTC
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