The Long Investor

$SPGI

S&P Global is a bit behind the SPY chart, this is looking less bullish then the $SPY chart which i'll be uploading over the weekend for comparison.

That being said, both cases are still valid here, the bulls will like that this is above its 50 and 200 Day MA but the count can not disreg...

$OPEN - RC -

Another double bottom here on the 0.78 Fib and bounced very well, I am still leaning towards this being a corrective wave but the impulse wave can still be valid if it breaks above the blue line, a rejection at the blue line and it will come down in 5 Waves.

$M - RC -

Very little to report here, this chart has not changed in months, it is still following our Wave C corrective wave nicely and I expect the decline to continue, if it can hold this level as shown, we can look at adding in an impulse wave next.

$IRBT - RC -

Very messy chart and count here, certainly a corrective wave with almost all counts looking unorthodox, the squeeze at the start of the year may not have helped here. Bulls will want this to hold above the blue line now so it can complete the corrective wave X in red. 

$AVGO - RC -

A popular one this week, this has gone parabolic, it is into the bull case above the blue line, a pull back may happen but as long as it holds above the blue line, this can still go higher to complete Wave 3 and further. I like that Wave 2 completed exactly at the 0.5 Fib, it makes finding the ne...

$AEHR - RC -

A very nice structured chart, I believe this is still in Wave 3. It has pulled back nicely and holding at popular Fib levels and Wave 2 completed at the 0.78 Fib perfectly, meaning it was possible to find its Wave 3 target and it is aligning with the price action. 

$ACN - RC -

The 0.618 Fib produced a double bottom and then bounced, so it is possible that it's ABC corrective count is now complete and it is starting its impulse wave now, look for a break out into the bull case next to confirm Wave 3.

$ATZAF - RC -

Another perfect example of EW Theory and Fibonacci levels working in perfect harmony here....5 Waves up, following by 3 ABC corrective waves down, hitting the resistance level at the 0.236 Fib and coming down lower below the previous low, the 0.618 Fib support should complete this count.  2023-05-26 20:10:30 +0000 UTC View Post

$RACE - RC -

Very nice structure here to $RACE (FERRARI) will likely continue to Wave 5 before a well needed pull back, very clear 5 waves up here and into a megaphone pattern. Easily read charts like this are a dream.

$VRM - RC -

Continuing down this wedge, below the 50 Day MA and 200 Day MA, the 50 Day looks to be in control of the trend here, stopping any momentum to the upside, until the price goes above this level and above the wedge, it will get tighter down the wedge.

The price action is in trouble below the w...

$ABBV - RC -

Very straightforward count here, ABC corrective wave and it needs to complete a new low in order to finish this C Wave, so it will need to go below the 0.38 Fib, the next Fib below is at the 0.5 Fib at $119.

$IONQ - RC -

A lot of aggressive moves lately, another example here too, it is looking like a Wave 3 move and this is when we expect to see aggression but we do not like parabolic moves and 100% gains over such a short period of time.....but there is an AI craze right now.... The Dot Com age, the Ev age, the ...

$SOFI - RC -

Held the 0.88 Fib and bouncing, 50 and 200 Day MA are intertwined together just above, this will be a big test for $SOFI, a flip here from resistance to support will be a very big achievement, so this is one to watch for early next week.

$ZM - Important note -

I know how difficult it is to keep to a plan. When this was climbing leading up to their earnings, I think everyone would agree that they would have jumped at the opportunity to buy this again if it went down to our blue line support or even in the buy zone......then that happened and held the 0....

$PYPL

It was announced in the Telegram group that $PYPL has bounced at the bottom of our buy zone, we know that it needs to do more and show strength now and bulls need to step in....as they have with a lot of other stocks. 

There is a slight disconnect between valuations and share price at ...

$NIO TOP 20 UPDATE

A desperately needed bounce for $NIO after such an aggressive drop, the price action now is still mirroring what happened after Wave 2 completed so we will continue to use this as our reference point. 

The Red Fib levels are what we are watching now as they have been acting as very acc...

$MP - RC -

Continues to show strength here, we like that it bounced and pulled back to retest the trend line from above, found support above the top trend line and now has been slowly moving up....no issues with this and I can see the 50 Day MA is moving down now, another hurdle to try and get above but if ...

$DAL

Very nice from $DAL, still showing strength after bouncing above the bull flag, which was close to the 50 and 200 Day MA, which reinforced the support. I want to see this bounce above the previous highs now.

$BABA

I am watching how $BABA tests the wedge trend line from below, if it rejects here, it is a classic breakdown, retest, rejection and then ultimately further decline to the downside.....as with breakouts above, we like to see a test of support and a further bounce, the opposite is also true for bre...

$TGT - ENTERED THE BUY ZONE -

Another stock we have been waiting a number of months to come down and hit our buy zone is $TGT. Just triggered the buy zone today so we will see if it can find support at this blue line or continue down to our first target or possibly our second target. FWD PE of 13 now and I do like this compan...

$AMZN TOP 20 UPDATE

I am watching this wave now and liked how it pulled back held the previous high from Feb and bounced well, if it can make another high shortly, the upside potential is still in play.....$AMZN has every right to experience the same euphoria as a number of other Mega Cap stocks lately, yet this cou...

$TSLA TOP 20 UPDATE

$TSLA about to make another attempt at the trend line today, after previously getting rejected, it then pulled back and found support at the 50 Day MA next and bounced again....above both of these trend lines I feel the Bulls are in control, so keep an eye on how this approaches the previous high...

$DNA

$1.12 hit below the channel and bounced very well, a lot of Bio Techs have performed well over the last week and have started to blow off some steam over the last 2 sessions, $DNA's structure is still looking good to complete Wave 5 here if it can hold its level where it is at now.....Once Wave 5...

$NVDA

For a bit of fun, here's a long term chart for $NVDA. The pull back last year was right down to the 0.78 Fib and held and the bounce has been non stop since....if we consider the bottom last year as Wave 2....then this could possibly and I mean this in the looses terms because their fundamentals ...

$BTC TOP 20

The 200 Day MA is working its way towards our Wave 2 spot, so this confluence level is where we need to watch. The middle blue line where the price is approaching now has been a resistance level before, if it breaks below here and does not become a support level, we should continue to see more do...

$COIN

The 50 Day and 200 Day MA seem to be working together to keep this down, it has yet to find the momentum to break higher, $BTC has been showing weakness lately too so it may account for the persistent sideways movement here, I feel this will come down further in the short term.

$ZM

$ZM getting that bounce it needed in the buy zone, hit the 0.88 Fib and got itself out of the bear case. It dumped quite hard after earnings which was unjustified I feel but now people who wanted it cheaper are getting what they wished for.

$NKE TOP 20 UPDATE

A very common update today, a lot of stocks at important levels now, a lot needing to hold too.....there is underlying weakness with a lot of stocks because of the mixed market, where the mega caps are holding up well and the mid caps and small caps are really struggling....I do not like this dyn...

$SE

Here we are exactly at the 0.618 Fib level, even losing the 200 Day MA to hit our target.....now the big question is whether or not it is going to hold. The 0.618 Fib level is the ideal spot for Wave 2 to complete and bounce and as we know, the lower it goes below the 0.618 Fib, the weaker the st...

$PFE

$PFE bulls really need to step in now, break back up into the yellow channel and testing the trend line from above as a potential support line now. I am a fan of $PFE so I would like to see this hold, if it loses the trend line again, we have to be prepared for more downside. For now, I am optimi...