The Long Investor

$TSLA TOP 20

This is what we have been watching for the last couple of weeks now and I am keeping to this until proven otherwise.

The big elephant in the room is the 200 Day MA.....I have spoken a lot about the possibility of a lot of stocks reverting down to this level if things take a turn for the wor...

$QQQ TOP 20

This has not put a foot wrong for a number of months now, it is behaving as expected and if the price action continues as shown, the market could recover very shortly, there may be some battle going on at the 1.27 Fib at $353 to confirm support for the next 10-14 days but I think everyone could t...

$PYPL TOP 20

Big week ahead and from the stir I have been causing online with $PYPL, it looks like opinion is divided....I would prefer more negative sentiment, I do not like when Twitter agrees with me.

That being said, I like to use facts to put together arguments and what is abundantly clear is that ...

$PLTR TOP 20

Another stock I have been updating a lot and there is very little to report as it has been pulling back in its corrective wave since missing on its earnings....which we have been delighted about....the euphoria around the earnings report online was the clearest red flag I have seen in awhile.

$NKE TOP 20

I am starting to get concerned here with $NKE, we knew this was in an overall corrective wave but it has been struggling since before the market pulled back and the 200 Day MA is a resistance level here that has become stubborn.

So if you are holding, it is time to make a decision, do you w...

$MSFT TOP 20

$MSFT and $AAPL are closely linked and we can see that both of them have been under severe selling pressure.

We need to remember that $MSFT ran incredibly extended in its Wave 3....usually Wave 3 runs to the 1.618 Fib, like it has done with $AAPL and $AMZN but we can see on this chart, that...

$INTC TOP 20

We could not be bullish about this, even when it was in its ascending triangle and I think the market feels the same about $INTC.....for now, their chips are just not at the same standard.....especially when we can see that $AAPL was able to produce the M1 and M2 chip fairly quickly and replaced ...

$GOOG TOP 20

Possibly the last Mega Cap that was holding up well but even this had a tough week and broke down from the triangle, so as we have this closely linked with $AMZN, it has the same possibility to be in Wave 4 now too.....$AMZN, $MSFT, $AAPL or $GOOG all have massive potential and both offer good va...

$DIS TOP 20

Classic example of always needing to wait for confirmation of support before entering a position.....even then it can still be possible to lose support.....a lot of hype around $DIS earnings release and it broke out of this wedge cleaning and aggressively but on the retest, it did not put up any ...

$COST TOP 20

I have added in the impulse wave count now as I can see a pull back.....which took its time to come in.

Overall the trajectory is clear here and I believe it goes higher.

It held the 50 Day MA on Friday too, like $AMZN, I believe it is still too early to say whether or not this will h...

$BABA TOP 20

I update $BABA every day and I am sure you do not want me to say the line again (that China need a stimulus) we just need it to happen now.....until then, the Chinese companies will struggle.

As I have said all along, I am sticking with this and I believe the stimulus will come soon.

...

$AMZN TOP 20

As many know by now, I have been looking forward to adding $AMZN at $120 for awhile now, especially as we have been waiting for Wave 4 to come in.....$AMZN certainly showed this week as no stocks were showing any bullish signals.

We need to observe where $AMZN continued to get stopped out a...

$AMD TOP 20

I think we are all aware of the plan here too, as I update this quite frequently.

It hit our 0.38 Fib on Friday and has bounced very well....so far, it has held support, because the market has been weak, the best case scenario now would be to observe a second retest of this 0.38 Fib at $102...

$ABNB TOP 20

I added this towards the end of the week to highlight that the price action has pulled exactly back to the trend line and this may act as a support level....we can see in June that $ABNB spent some time trying to get above this level and when it did, it ran very well up until earnings.

The ...

$AAPL TOP 20

$AAPL continues to feel the selling pressure and cleanly went through the first gap at $175.

I have added in a gap below $170 and $167, this is between the .078 Fib and the 0.618 Fib

We can also see that the 0.618 Fib is on the yellow trend line, this was a very important trend line t...

$OPEN - RC -

I have been asked for an update on this but there is nothing to update here as it is following our count.

It is now testing our blue line where we had Wave 2 set.

I do believe that Wave 1 is complete and this is looking for support.....this is in a difficult industry and in a difficul...

$CVX - RC -

I am leaning here for $CVX to follow the $OXY route but to be clear, I believe $OXY is in a stronger position, for reasons I have wrote a lot about on the $OXY updates.

(mainly its carbon capture market)

But I like how $CVX held the blue line, since this was a major resistance line b...

$RIG - RC -

The bullish case is still in play here and I've been impressed that it has gone above the blue resistance line and Wave 2 found support on the 0.618 Fib with a double bottom....all very bullish signals.

Either outcome I believe this moves up to test the 1.618 Fib at $10 before pulling back,...

$ECL - RC -

Good example of what can happen when a long ascending wedge breaks down, as seen here from the start off 2022, the break down was almost the full length of the trend leading into the ascending triangle too....so this is a bearish formation.

In an ABC wave now and finishing on Wave C high, w...

$RKLB - RC -

Another favourite of $ARK and has pulled back with the many other Biotech companies over the last month, and many other stocks from across different industries.

Like $DNA, it has completed a 3 Wave ABC correction and it needs to hold now, after finding support on the 0.618 Fib.

The 20...

PET. TO - RC -

PET on the Toronto Exchange, this has only been on the exchange since July 2021, so it can be difficult to confirm the trend but we can see 5 waves down since hitting the high at $43.

So likely in the final subwave now of Wave 5, down to $24 and looking for support soon, will need to hold t...

$DNA

$ARK continues to buy this and there is certainly a battle going on at the 0.65 Fib at $1.62, which as we know is the ideal Wave 2 spot to hold.

The price has been battling all day at this exact price too.

It must be comforting to know that a large fund like $ARK continues to keep buy...

$SQ

$PYPL and $SQ both continue to follow each other, both of them hit important trend lines today and have bounced very well.

I am still holding both, have not sold anything and I have doubled my position in $PYPL since its pull back.

It goes without saying that although the hold today w...

$SHOP

The mighty Shop is even showing weakness and remember they were one of the first to report earnings on the 2nd of August and they smashed it, increasing earnings by 117%....but no company is safe and immune from this selling pressure.

Price has fallen out of this channel which is a concern ...

$FCEL - RC -

This Head and Shoulders pattern unfortunately played out as expected and just kept falling after the neckline was found and looks to be on course to test the wedge again at the bottom trend line at $1.35.

Nothing can change here or be hopeful for until this wedge is broken out of.

Ear...

$MCD - RC -

$MCD has the capability to ride out any storm and because they are in most countries, they are able to diverse their exposure from one economy.

I see no concerns here on $MCD chart, even a pull back to the middle yellow line at $260 would only bring this down by a max of 10%, which is reall...

$AA - RC -

We are seeing a lot of this at the moment, companies pulling back to complete Wave C of Wave 2....extending down to the 0.78 Fib, as they could not hold the 0.618 Fib due to market weakness.

This is perfectly fine:

In this case, holding the 0.78 Fib at $25.26 would put the impulse wav...

$JNPR - RC -

ABC pull back here as part of an overall impulse wave, we can see that it had 5 very positive waves up to the start off 2022, and has been experiencing its ABC correction since....still a bit more to go and I suspect it will not hold this triangle and will decline down to our Wave C level at the ...

$SIEGY - RC -

Long term chart here, in Subwave 2 of Wave 3 right now so I expect this to continue its pull back to wave C between the 0.5 Fib at 0.65 Fib and the resume its trajectory upwards for Wave 3 at $139.

$CLSK - RC -

Very little to add here but that this is in its ABC correction and pulling back in a controlled manner.

I think everyone who was in here was comfortably that Wave 5 would not go much higher and pull back was needed and this is following a strict ABC wave now.

Watching for the 0.618 Fi...