The Long Investor

$FSR

$FSR is a heart breaker, it flirts with breaking out and then loses support on the 50 Day MA and collapses again.

It is barely hanging on to the wedge line again here, a break down here and back down to the $4.26 level again which is the first bear target. Failure to hold here and it is down to $3.

I'll consider a...

$AAPL TOP 20 UPDATE

As long as $AAPL keeps pushing forward, the market will struggle to pull back in any meaningful way. Still another $10 to go here until we expect Wave 3 to complete....and it could go higher too.

$BABA

Retested the 200 Day MA today from above and bounced and this is a positive sign but we still have more work to do....I am still only seeing three small subwaves since it bottomed at $84.44, so I want to see at least 5 waves to confirm that the bottom from that pull back is complete.

The 50 Day MA is just above at the b...

$HD TOP 20 UPDATE

$HD broke out yesterday and continued its jump today, that platform was getting tight and needed to go somewhere quickly and the bulls stepped in. Wave 3 now to $314 and then we can expect a retest of the 0.38 Fib line again before going higher. Bullish move.

$DNA - RC -

$DNA has not found support yet after failing to hold the 200 Day MA on the 1 HR chart, so we are looking at the 0.5 Fib at $1.56 as a potential support line next.

Leaving the structure to bottom out for Wave C at the 0.618 Fib at $1.46.

$DNA needs to start finding support now quickly or this entire structure could...

$WBA

We have the bottom coming in here around October this year but with the fiscal '23 outlook slashed today, this may get there a lot sooner. We are into the buy zone now, which means we should be very close to our $CVS bottom too that I mentioned yesterday in the COTW, we are looking for a hold at $64 for $CVS and I will add he...

$CRM

I believe $CRM is also in the $META, $CROX category, we can see here that it has bounced very correctively, with only 3 waves identified so far, a pull back to the 200 Day MA around $170+ could save this, for now, I believe a pull back is coming regardless.

$CROX

$CROX is doing what $META should be doing right now.....although miles apart in their respective industries, both of their charts are very similar up to Wave B completing....we can see that $CROX dropped aggressively from $185 down to $50 for Wave A, which is similar to the $META drop and both bounced almost identically, in f...

$LLY - RC -

$LLY has completed some monster moves since 2020, going from $100 to $452 right now and it gets very little attention.....which is exactly what you want from a stock.

$LLY is leading the market with this new 'wonder' fat eliminating drug that can reduce your BMI by 25% over a 1 year period....considering the obese marke...

$SLDP - RC -

Few positives signs here, it has broken out of this downward channel and trending higher and working its way to stay above the the 50 Day MA here on the daily chart. I think there is still a lot of work to do and the 200 Day MA is coming down now from above, if the price action can stay above the 50 Day then the bulls may ste...

$TD

Like a lot of the US banks, Canadian Bank $TD is still in its final stage of its corrective wave now, we are looking for this to find support between now and the 0.618 Fib at $72.

I can see a rejection at the 50 Day MA and the price is also below the 200 Day with a bearish cross, so I see the trend downward continuing.&...

$XLE - RC -

No changes to the Energy Select Sector, the price action has broken down from the long wedge trend line that has been in place since October 2020.

It has also tried to recapture this trend line and could not find support so my red corrective wave is still active and in control now. 

We can also see that the 5...

$LE1

It looks like it is a good time to be in the Live Cattle Futures. Broken above its previous high from 2014 after hitting a double bottom in 2020....the powerful move has been very strict since $81 to $177, with only parabolic moves shown since April this year. Wave 3 can still rise to the 1.618 Fib at $232.

$DOCU - RC -

Hit our first target and has come down since and has been consolidating sideways now since June '22. 

The price action is below the 50 and 200 Day MA on the daily now, confirming the trend is still downward, so I am leaning towards this following the Red corrective wave here....best case scenario is that the price ...

$GOOG - WATCHLIST

I am watching $GOOG closely here and really impressed with its pull back so far, I mentioned over the weekend that the 50 Day MA has crossed down over the 200 Day MA and this has given us the decline we wanted yesterday and we are seeing some weakness in the PM today too.

I will start a position here between $118 and $1...

$PYPL

Still no changes to the plan or count here, the price action is staying above the blue line which is keeping this out of the buy zone and bear case. As long as it can stay above this line then Wave 3 should complete at $72 and this is confirmation of the impulse wave and the bottom being in.

If this enters the buy zone ...

$META - RC -

No changes here whatsoever, in the last update I said the blue line at $289 will be an important level and I believe it is a strong resistance line.

The price action is also just at the 0.65 Fib level now at $280.

I think that $META is gaining in popularity from investors but I can not deny the glaring red flag ri...

$LCID - RC -

Nice bounce at the opening from the news that Aston Martin and $LCID have made a partnership but the bounce has given up a lot of its gains already, and barely hanging onto the channel trend line....I will keep my $5 target for now, and we are already quite close to it....I believe fans of $LCID have already started to scale ...

$CVS - CHART OF THE WEEK -

I have added this long term chart before but I continue to be impressed with its set up, so it is this weeks COTW.

I think I need to add clarity to the COTW plan, although we would love to see a chart just take off the moment we buy it, this is rarely the case and my COTW are all designed to buy and holds.

It does...

$PFE

$PFE struggling today as it decided to focus on one drug, instead of 3 in its fight with $ILY and $NOVO for market share of a fat fighting drug market....these pills have gain popularity over the last few months. I am struggling to see how a pill can stop a bad diet but many people will buy into this craze if they think they ...

$NKE TOP 20 UPDATE

Bullish indication on the 1hr chart where we can see that the 50 Day MA has crossed over the 200 Day MA to the upside and this is likely contributing to the strong performance from $NKE today, in what has been a volatile day so far.

We can see on this chart that when the 50 day crossed the 200 day before, it brought mor...

$COIN - RC -

2 major catalysts for $COIN has developed.

1. Supreme Court ruled in $COINs favour relating to an arbitration case

and

2. $BTC has completed Wave 2 and broke above the previous high, triggering its own bull case which directly affects $COIN, if this is the start of $BTC's next bull run, a lot of buyers will ...

$SOFI - RC -

In my last update, I said I was concerned of this very clear parabolic move but it kept moving higher, now we are seeing the real test now, I think everyone expected a pull back but the key now is to see where it can find support, my blue lines a vital support lines and if they are held, this can be seen as a pull back for su...

$BABA

Positive movement today, we wanted to see a bounce at or above the 0.618 Fib and most importantly above the wedge, so far is has done this but we need to see more momentum now with this. Price action is just holding at the 200 Day MA on the 1hr chart now, the big level for us to watch is getting above the blue line at $88, wh...

$NIO TOP 20

$NIO struggling to stay green now, after starting off the day in the green in PM but could not maintain that momentum at the opening then.

Tencent also announced today that it has cut its stake in $NIO stock by 25%, this being done from another Chinese company is not a positive development, likely this is adding pressur...

$TSLA TOP 20 UPDATE

Goldman downgrades $TSLA to Neutral from Buy but raises its Price Target to $248 from $185. This is likely the cause of the sharp drop today but we can see from our chat uploaded over the weekend that we expected a decline regardless, the plan here remains the same, $TSLA needs to hold support above the blue line at $217, fai...

$TSLA TOP 20

$TSLA's pull back is unlike the other Mega Caps pull back right now, they are all very structured with clear impulse counts, while $TSLA is showing the clearest corrective wave disguised as an impulse wave that I can see right now, $INTC is a close second. If you look at both of these charts, you will see that they are very s...

$VIX TOP 20

$VIX did not win the battle against the market, the $VIX declined heavily and the $SPY took off, it just never got the bounce it wanted and has been continuing down this channel consistently losing support at critical levels. Can it make it all the way down to the $8's?....if it can, it would certainly be a sensible add here ...

$SPY TOP 20

The $SPY behaved very similarly to the $QQQ this week, what we should be watching for next is how the $SPY negotiates at the blue line at $431, which was the previous high resistance line and this pull back will be the first test of this line from above, I think it will dip below this line again and we can see that the 50 Day...

$QQQ TOP 20

We continue to see the pull back here and last week we mentioned that at this previous high, where our yellow line is, would be a perfect area to reject and pull back to complete Wave 4....the majority of the market pulled back during the week or stayed level, while a very small amount of Mega Caps still pushed slightly highe...