The Long Investor

$SPY TOP 20

Same chart as yesterday, we got the flush down to complete Wave A followed by Wave B bounce to the 200 Day MA today, which was rejected as expected and now it looks like we are getting a final pull back for Wave C now.

I will be looking for the 0.5 Fib at $428 as a potential support line, as the yellow trend line is her...

$JPM

In my last $JPM upload I said how impressed I have been by their chart and how well it has held up compared to the market.

We can see that the price held the 200 Day MA at the start of this month and has since bounced further, after reporting a beat on earnings by nearly 10% today.....high interest rates help $JPM.

Lesson 3

What is an Impulse wave?

What are the Impulse wave rules? (Most important lesson to take from today)

_________________________________________________________________________

In Lesson 2 we spoke the difference between an Impulse Wave and a Corrective Wave, we went into a lot of de...

$ELF - RC -

$ELF had a remarkable run from May 2020 at $7 to the 1st of Sept 2023 at $139.

But a pull back was always going to come here, especially after running so high and so fast.

It has now dropped nearly 40% so far and for now I only see one wave in this pull back, so Wave B and Wave C are still to follow.

The 0.6...

$IOT - RC -

$IOT IPO'd at the end of 2021 and usually what we see on these new charts is that they open with a corrective wave and $IOT is no different.

It is also trading within the blue line range too.

It has both double bottoms and double tops here, solidifying the range further.

I can see 5 waves up since the start ...

$OXY

Is having a strong week on top of difficult news from the middle east and the price is above the 50 and 200 Day MA now.

The Wave C low between the 0.618 - 0.78 Fib is substantially a higher low which reaffirms the impulse wave and the trend to the upside.

Wave 3 target here is $81 by EOY, what we want to see next ...

$AMD TOP 20

I am looking for an entry point now for $AMD and this white circle which was on our last $AMD chart too, remains the main area of focus for me right now.

The 50 and 200 Day MA is here, the yellow trend line support level and the 0.38 - 0.5 Fib levels are here too.

So a hold of support between $105-$103 is the buy ...

$NIO TOP 20 - SAVE THIS -

$NIO chart for the next few months.

The height retracement of Wave 1 and Wave 2 is used to find Wave 3.

So if Wave 2 is in when the price hit $7.93 twice on the 25th of Sept,  then we use the Fib extension from the Top of Wave 1 and the bottom of Wave 2 to find the projected level for Wave 3. Wave 3 target is...

Update

I will be uploading Lesson 3 tomorrow: It is an important one!

$VIX

The X marks the spot and that is where I see the $VIX going by EOY.

Another hard rejection at the 200 Day MA today and a small tight head and shoulders pattern has been formed here.

In like with my thoughts on the market, that today was a healthy pull back before going higher to rally until the end of the year. 2023-10-12 22:08:35 +0000 UTC View Post

$V

In terms of quality of technical and quality of fundamentals, this is up there as one of the best, if not the best.

Wave 2 held at the 0.618 Fib, the Aug/Sept pull back was barely noticeable and we can see see a hold at the 200 Day MA and a bounce too.

This should really be part of our Top 20 List I feel.

$TLT

Red day today for $TLT but there is no doubt looking at this chart that a reversal is certainly possible here.

The bounce is very V like and many believe there was value to buy at $84 and so do we.

Just like stocks, the $TLT will move in waves too, so if there is a strong bounce, there will be a pull back, so what...

$SHOP - RC -

Is looking very good right here for a few reasons:

1. Wave 4 has pulled back to its standard 0.38 Fib and has so far held.

2. The Wave 4 position was also at the 200 Day MA on the daily chart, so this was a strong confluence level and has so far worked too.

3. Wave 4 did not encroach on Wave 2 and 

$ONON - RC -

$ONON has now hit the 0.618 Fib twice now, one strong hold and good bounce and then a second retest and held for a second time today.

This is where $ONON bulls needs to step in now and start the impulse wave up.

If the 0.618 Fib can not be held, the 0.78 Fib is down at $20 so the next few sessions should be import...

$COIN

$COIN gets rejected again trying to get above the 50 Day MA on the daily chart.

That is 3 times now that $COIN has rejected since August trying to get above the 50 Day and further confirms that we have one more leg down to the 200 Day MA to go to complete Wave 5.

Some members may like this as an option of being in...

$DAL

$DAL has my attention again and reported earnings today that were a beat but guided slightly lower on their EPS, due to a further increase in fuel costs, I believe the cost of oil was increasing either way but I think the middle eastern tensions have now accelerated that, as refineries look to replenish used reserves now........

$PYPL TOP 20

$PYPL is just moving along the bottom blue line of the buy zone now and still above the wedge trend line in red.

The trend line has offered support 4 times since July ' 22 and the top of the wedge is equally as strict and adhered to.

$PYPL for me has completed its ABC correction and is not in the same arena as the...

$SPY TOP 20

Yesterday I showed this chart stating that I can see 5 small subwaves now and we need a healthy pullback before it can go higher.

As the price has moved very well from $421 to $437....so even though we said there was a pull back due and this was healthy, there was still some puzzled comments in the Telegram group today....

$NIO TOP 20

Another positive day for $NIO yesterday, when many stocks opened red and recovered throughout the day, $NIO stayed strong and healthy for the day.

I believe we are in this small subwave 3 now, all wave 3s have 5 waves in them.

So a pull back shortly to the 50 Day MA again at $8.70 would make sense before going hig...

$NFLX

The 200 Day MA at $372 is slipping here as support and the price is already below it right now, bulls still have time to recapture the support line but there is certainly cracks appearing now.

Again this is not a stock I like but if it can move down a lot further, it may come on my horizon in a few months time, so we wi...

$AAPL TOP 20

$AAPL small subwave 1 getting stopped out at the 50 Day MA here very clearly, so I have added in the green Fibs to show where the complete pull back should come down to.....between the 0.5 Fib and the 0.618 Fib at $173 - $172.

A comfortable hold here and this is a buy signal again for $AAPL.

Really nice structured...

$SPY TOP 20

$SPY is showing a bounce of 5 small subwaves so far and the price got stopped out at the 1 Fib at $437, just below the 200 Day MA on the 1hr chart.

We can clearly see 5 waves up, not 3 waves......if it were 3 waves, we could assume that the bottom is not in yet.

So we are assuming that the pull back will be in 3 A...

$AMD TOP 20

Remember the market always gives you a second chance?...it is whether or not you take it is the main objective.

We want to see a retest of the bull flag at $105, we can see here that the 50 and 200 Day MA are just here too on the 1hr chart, so this is a confluence level potentially acting as support.

If you can bu...

IAG - LSE -

IAG has been holding up a lot better than the US carriers, mainly due to the companies in this umbrella company all performing very well and almost have a monopoly on their areas....BA now due to brexit and Aer Lingus is the only long haul carrier based in Ireland, Iberia dominating long haul in Spain.

I would still lik...

$CRWD

$CRWD has been impressively strong and may be benefiting from the middle eastern conflict but we had this moving up for Wave 3 regardless.

The 50 and 200 Day MA has acted as a support line this month and when the conditions were right, it bounced hard on these levels and is comfortably moving up to the 1.618 Fib at $193...

$DIS TOP 20

I have been watching $DIS and it has bounced from $78 to $85 with a breakout of the wedge, buy zone and above the 50 and 200 Day MA (on the 1hr), what we want to see now is a pull back to the wedge trend line at $82.50 and hold.

This will be a big statement as $DIS has not been able to do this all year.

This will ...

$MGM

$MGM chart has been neat and impressive, with no wild movements.

It has pulled back to the 0.618 Fib at $36 and has been holding this level very well and is now bouncing from it too.

I see no reason why this will not continue along our projection.

Getting above the blue line at $50 next will be a big stateme...

$DXY

Fib levels play a very important role when it comes to Bonds, Forex and the Dollar Index, the moving averages and Fib levels are respected and they are used even when Elliott Wave Theory is not used.

We can see on the 10 Year Yield chart that it is an EWT and Fib level dream to read and the $DXY is no different.

R...

$SQ

$SQ still performing well on the strength of the 10 Yr coming down and the chance that rate hikes may have finished now.

This is still very early days for $SQ and I believe this can still make its way back up to the top yellow trend line with little issue at $75.

So far we just have one bounce on the trend line, s...

$RTX - RC -

$RTX is performing well this week on the strength of what is happening in the middle east.

It is a Aerospace and Defence stock, so it is directly involved in conflicts.

We can see from the chart that it was already very close to completing its Wave C before the events of last weekend took place and was in between ...