The Long Investor

$SBUX - RC -

No change to the chart here and favouring the the red corrective wave now and following it closely.

Personally I think $SBUX has an image problem, it just has not reinvented itself in the last decade, the coffee is still basic with no frills and I get that it needs to be like this for the mass market but it's simply not...

$HPQ - RC -

A Buffet favourite and appears to be looking to test the 0.618 Fib again at $23.71.

It had the perfect bounce at the 0.618 Fib in August but the market had other ideas and wants more confirmation of support before this can go higher.

Buffet sees something in this company, the fundamentals are good but not amazing,...

$ENVX - RC -

I am not seeing any impulse wave being formed here, I am just seeing a long consolidation sideways for the last 2 years in a WXYXZ movement which is just a long corrective wave and this is shown by multiple 3 Waves in each wave count.

Price has broke down from the 200 Day MA here too and testing from below which is not ...

$ESTC - RC -

Another Requested Chart: Completed an ABC corrective Wave at the end of last year and has bounce in this channel for the whole of 2023.

It it being met with some resistance so far trying to get out of the channel and if the rejections continue then it will be met with 5 waves down for the red wave count.

A success...

$SEDG - RC -

Requested Chart on Solar energy, we can see the triple top at the top blue line at $377, met with a harsh decline for a corrective wave, now in Wave C and seeking support on one of the Fib levels shown, the 0.65 Fib has been lost, so the next level to look for is the 0.78 Fib which shows just how low this has been pulling bac...

$NIO UPDATE

News has just dropped since I posted the $NIO chart 10 mins ago.....we will watch to see how this develops.

Full article below:

https://www....

$DNA

$DNA was up 16-17% yesterday at one stage on the positive announcement news with $PFE but managed to give up a lot of those gains by the close, I mentioned under the $NIO post that yesterday was a mixed day for the market, it was rare to see an outlier performing that well for such a delicate day.

The structure is still...

$NIO TOP 20

Flat day yesterday for $NIO with a mixed day for the market. The first half of the day was in a descent and the market recovered very well, giving hope to people that the worst is behind us....I have not seen enough to believe the worst is over, considering the number of announcements today:

1. Core PCE for Q2
2. GD...

$TLT 20 YEAR

Is now on the support line which has been held 8 times since 2005.

This really is make or break time for $TLT.

We can see leading up to the 2008 Financial crash, the $TLT held 4 times at this level before it took off.

I suspect the $TLT is nearly done here, any breaks below this line did not last long.

$CRWD

Incredible show of strength here from $CRWD, not getting affected much by the market and comfortably above the 200 Day MA and tested the 50 Day MA today and found support and bounced.

No changes to the chart here either and Wave 3 looks in control and the target remains at $193 at the 1.618 Fib and then should continue ...

$MARA - RC -

Cut right through the 0.618 Fib and the 200 Day MA like it wasn't even there so the selling pressure continues here and onwards down to the next Fib to test support at the 0.78 Fib at $6.72.

$BTC has still held up very well and seems immune from the market weakness and the $JPM crypto ban yesterday which is impressive s...

$COIN

Nearly there for $COIN but I do not think the bottom is in yet for $COIN, little relief bounce today but I see another move down.....$JPM decision yesterday to not allow any buying of crypto from their bank account holders may not be fully factored in yet.

$COIN is still a stock I am not considering adding right now but...

$BERY - RC -

$BERY is at a critical point, I have uploaded this a few weeks ago and I have been monitoring it in the background, the chart looks good and healthy and still managing to perform a lot better than most of the Mega Caps.

Just at the 200 Day MA and on the ascending triangle trend line right now.

The Bull Case is not...

$PLTR TOP 20

Second test of the 200 Day MA today on the 1hr chart and it also happens to be the bottom of the bear channel trend line that this broke out of last week.....This would be asking a lot to break above these two levels.....positive announcement today from the $250 Million Defence contract but I am still leaning on this coming b...

$DG

$DG has not held the historical support line which is also at the 0.78 Fib and the price action has its eyes on the next Fib level at the 0.887 at $87.90.

If this continues until the end of the year then we may be in a good position to add here if the market takes a turn as savvy customers decide to stretch their pennie...

$SOFI

Relief bounce right now but it is having a difficult week and month, along with many of the financial stocks....rates and yields are damaging this and this is unfortunately following the amber line very well.

This needs the yields to come down (and so does $pypl and $sq) and we have shown on the US10 Year chart that the...

$COST TOP 20

That was a whirlwind day for $COST, earnings were released yesterday and it was a beat but just barely, the After hours activity and PM today were not great and at the opening today, this fell down to $544, that has all been recovered now and it is up 2.3% right now at $565.

There is still a double top showing at the $5...

$SPY TOP 20

I have added the 1hr and the Daily chart here because we are at an important point and we need to see how the price is behaving on a shorter time scale.

Daily chart we can see that the price hit exactly in the middle of the bounce level, between the trend line and the 200 Day MA, which is between $427 and $419, the pric...

$SE TOP 20

What a week $SE is having so far from $35 to $43 right now, with another strong 8% day today so far.

We wanted to see this get comfortably above the 0.78 Fib level at $40.60 and bounce and it has done that now, it is also above the 50 and 200 Day MA on the 1hr chart.

The large earnings gap starts between $45.60 to...

$TDOC - RC -

$TDOC broke down from $22 level, it was trading between the blue lines from $22 to $34 for exactly a year and has broken down amongst the weakness in the market.

This is not a good sign for $TDOC here and it desperately needs to find support now, I have added potential support lines and we can see that the price is clos...

$OXY

$OXY continues to be a strong hedge for us during this pull back and has been slowly moving higher and still showing strength.

Above the 50 and 200 Day MA and up nearly 3% today as concerns on the price of oil continues to rise.

I think $OXY is in the middle of a sweet spot, benefiting from an increase in oil pric...

$DNA

$DNA is what I am watching close today, at one stage it was up 15% in the PM after the positive new announced this morning of its partnership with $PFE, worth in excess of $350 million to $DNA.

The 50 Day MA is at $2 right now so this is the level we are watching, a flip of this level to support is a strong indication o...

Lesson 1

What is Elliott Wave Theory?

Elliott Wave Theory is a form of technical analysis that identifies patterns in the movement of financial markets. It was developed by Ralph Nelson Elliott in the 1930s, and is based on the idea that prices move in waves of five waves in the direction of the trend, follo...