The Long Investor

$ONON

I continue to watch this and it has got my attention still.

Like $QCOM, it had 5 perfect impulse waves and is now showing 3 perfect ABC waves down and holding support at the 0.618 Fib.

It is great when they work out like this.

And now showing signs of moving higher after holding support.

The big variable is the earnings report on the 14th of November, this will need to be good for this to continue its slow tre...

$SPY TOP 20

Big response from the Bulls so far this week, scraping to end last week at $410 and now sitting at $422 mid week.

Big earnings day again tomorrow, with $AAPL, $PLTR, $SQ, $SHOP, $LLY, $COIN and $NET all reporting.

The big one is $AAPL which carries the heaviest weight in the market, as long as there is no surprises, the market should manage to stay above $410.

The big observation today was watching how the price act...

$FSR

$FSR did not hold above the $6.40 line, it got rejected at this line, which was also the 200 Day MA and the 50 Day MA was very close by too.

This was a strong confluence level and $FSR needed help from the bulls to get above this important level that we have been tracking all year.

It could not do it and also announced that they were reducing their price for their Ocean Extreme, which dropped the stock hard.

Came al...

$QCOM - RC -

$QCOM also have their earnings report out after the close today.

It is also at an important level too now as it waits for the report to drop, the price is just sitting on the 0.618 Fib, after showing 3 waves down and 5 waves up.

Again this is also in a position to be ready to move to the upside if the report is good.....a miss and this will unlikely hold the 0.618 Fib and it will fall down into the bear case.

Some p...

$ABNB TOP 20

$ABNB also reports after the close today and it is at a critical junction here.

Just sitting on the trend line which it had held in August when it was announced that they would be added to the S&P500, so far it is holding support and the market is giving this every chance to be in a good position to move higher if the report is good.

If it is weak, I can see this coming down back into the buy zone and bear case. This ...

$PYPL TOP 20

$PYPL reports after the close today and it goes without saying that people want this to deliver on a strong quarter.

$PYPL is just about hanging on to this red trend line and the gap below to $45 will be the likely direction if the report is not positive.

If there is a positive surprise then we could start seeing this move up to the top trend line again where the 200 Day MA is close by and following its direction.

I...

$EL - RC -

$EL is getting killed today after reporting a bad miss from their report and revenue is down -10% from a year ago, compounding their issues.

We can all see on the chart that it had formed a bullish wedge and was in a good position to respond positively if the market anticipated a good earnings but they did not and they were correct.

This means that $EL has lost its Covid Low now and on track to hit its 2017 low at $75. 2023-11-01 15:26:17 +0000 UTC View Post

$DXY

$DXY with the second retest of the 0.5 Fib at $107.

The price action is respecting these levels, like I said in the last upload of the Dollar index, it can still go higher to the 0.618 Fib or higher but I believe this will reject and continue coming down lower as it has done for the last 14 months.

I am not seeing this bounce as an impulse wave, it is very typical of a corrective wave.

$MSFT TOP 20

$MSFT is simply a beast.

Like I have said many times over, you can't take the market without these Mega Caps and $MSFT and $AMZN are delivering so far. $AAPL reporting tomorrow is the last hurdle.

I believe that everyone should have a Mega Cap as part of their portfolio and I treat $AMZN as the $SPY or $QQQ and they have been performing significantly better than these this year too.

If $MSFT or $AAPL is your preferr...

$AMZN TOP 20

People will talk about the stocks you miss but very little will be said about the stocks that have done exactly as you expect and in our case, made us a lot of money.

This is part of human behaviour too, it proves that losses affect us a lot more than the equivalent gains.

$AMZN's implied move after its earnings has hit exactly and we bought the dip here at $118 before the earnings because regardless of what was going to ...

$AMD TOP 20

A few heads dropped after the $AMD earnings and few people lost their cool and forgot the big picture......my job is becoming more and more of catching people from falling off the ledge instead of making charts and this is not what I want....you are in control of your emotions, I can not do this for you.

I have uploaded a number of books that will help people control their triggers and I highly recommend these, The Chimp Parad...

$NIO TOP 20

$NIO hit estimates today and reported just over 16,000 EVs delivered but I still feel it is disappointing to see their $XPEV and $LI deliver more and outpacing them.....yes $NIO is a premium vehicle compared to $XPEV and yes $LI is not a full EV maker but we need to see $NIO going beyond and pushing harder to hit higher targets each month.

There can be no more excuses now.

$NIO partnering with a legacy manufacturer would ...

$VIX

Down -8% and at 18 now after hitting the yellow trend line at a high of 23.

The market has started off the week quite strong and has bounced out of the 410 danger zone and is already up at $418 now but it is still not out of the clear but this strength is certainly welcomed.

The VIX is coming down to the 200 Day MA now 17.50....we would like to see this not hold support, if it holds support and bounces, then it means the ...

$CRWD

$CRWD has been moving well down this Wave 4 so far and getting close to the 1 Fib too at $164 where we set Wave 4.

When building a count, you can use the extension of Wave 1 and Wave 2 to find Wave 4 by using the 1 Fib.......or you can use the 0.38 Fib from the bottom of Wave 3 to the top of Wave 3.....both Fib levels end up being remarkably close to each other.

So $164 will be a good level to watch and to see if the pric...

$ABNB TOP 20

Earnings tomorrow after the close and the price is at an important level right now, back above the yellow trend line and held support at the 0.78 Fib at $115.

I think holders would be more comfortable to see the price above the 200 Day MA at $124 tho, as this has been a key battle ground for many stocks right now.

So a lot will come down to this earnings tomorrow, a solid beat and this could get back above the 200 Day MA ...

$ADAUSD

I have a very small amount of Cardano that I almost forgot about but it is my only exposure to crypto right now and I may increase this amount soon.

I have just uploaded Solana and that appears to have started its run already, we can see here that Cardano may have just started its own but it is still early.

The 200 Day MA is the big test right now, flipping this to support at $0.30 will be bullish and I can see this movin...

$SOLUSD

Solana like a lot of cryptos right now are having a resurgence.

$SOL has gone from $7 to $36 now this year.

And this climb happened all between a consolidation range, which means it hasn't quite taken off yet which is remarkable.

I can see that a lot of my members are following crypto right now so I will continue to upload more crypto charts in addition to my regular uploads.

A break above $38 and $SOL is into...

$FVRR - RC -

$FVRR's fall from grace is so large that even on the weekly chart I still can't fit the entire price action on the chart.

It hit a high at $336 and is now at $21, fighting for its life.

It was in a descending wedge for the entire YTD and has broken down from this last week and is moving down to the bottom blue line which is the all time low line at $17.

$FVRR are still not profitable and non profitable companies rig...

$CVX - RC -

Big week for Chevron, they announced that they had agreed to buy Hess for $53 Billion and then reported their earnings with an EPS miss by 17%.

Profits have surged but the price paid for Hess is still quite high and the market was slightly worried about this, likely causing the sharp decline which normally follows after a company agrees to buy another.

Analysts came out to say that any dip should be bought up and I tend t...

$ABBV - RC -

I believe this will continue pulling back but it needs to stay in the bull flag above the yellow trend line.

A break below the yellow trend line and it is at risk of going below $125 which was the high in 2018.

Below this line and the price can drop aggressively to the white Fib levels at $119 and $105.

If the price can stay in the bull flag, it has a chance of bouncing and breaking to the upside above $155 and go i...

$SHOP

Is a very popular stock and is seen as a potential Mega Cap stock in the future and came very close to it during its highs in 2021.

But it has suffered a lot since and the hype was not matched by revenue and this came down.

It is now at a crossroads.

It needs to hold the above the red line at $45. And it has its earnings report this Thursday too. So it needs to be strong because if there is any weakness, this is com...

$GM

The vehicle manufacturing companies are all in good company at the moment.

$F and $GM are closely linked and will follow each other up and down.

$GM also lost critical support levels at $35 and has sunk since, losing its July '22 low last week too.

Price looks glued to the Wave C trajectory and moving down to the 0.78 Fib and 0.887 Fib between $25 and $20.

I would not be rushing into this right now, the UAW ha...

$JBLU

$JBLU is down hard in PM now with -7.5% showing as of writing this.

Reporting revenue down from 10.5% to 6.5% YoY and warns of wider-than-expected Q4 loss.

We can see on the chart that $JBLU tried to hold at the first target support level and has now lost it completely and is on a fast track route to the second target at $3.

The last time $JBLU was at $3 was in 2009 after the Financial Crash, when many believed that...

$NVDA

$NVDA is not reporting its earnings until the 21st of November and ideally they need this to come sooner.

The price action is just hovering around the neckline now of the Head and Shoulders pattern, this H&S pattern was quite neat and controlled and we can see the price action is respecting the neck line too.....so any break down from this level and this is at risk of first coming down to the 200 Day MA at $450 or even lowe...

$TSLA TOP 20

Ok this is the doomsday scenario for $TSLA if it does not find support soon.

The white 0.78 Fib at $183 is still a legitimate support level and the bulls can still find support here and this can move higher from there but anything below this and it is looking very weak.

So I have added in the Red Fib levels, these Fib levels are showing the target levels that this can drop to if the white 0.78 Fib level is lost.

Thi...

$NIO TOP 20

Registration numbers came in today:

$LI Act. 10000 Est. 9500-9800 

$XPEV Act. 5800 Est. 5200-5500

 $NIO Act. 4600 ...

$BRK.B

This is almost too perfect here for Buffet.

Wave 4 pulling back in 3 waves and finding support on the 200 Day MA, as $AAPL, its largest holding reports this week, 50% capital allocation in $AAPL here.

So $AAPL kill it this week, the $BRK.B is going to bounce hard.

So members buy $BRK.B like buying a market ETF and I believe they are right to do so.

They also have $147 Billion in cash, ready to deploy and buy u...

$SOFI

This has been tough viewing today, as I could see the excitement on X and in our chat group after $SOFI released their report and although the report was encouraging, I did not see much in terms of it being show stopping and enough to be an outlier in this very difficult sector right now.

I think $SOFI is certainly on the right track and is a major contender to take on the banking sector in the future but in the short term, it ...

$QQQ TOP 20

$QQQ is back in the bull flag again after a strong start to the week.

This was certainly needed as the bulls do not want to be sitting on the 200 Day MA this week as important earnings reports get released, it is too close for comfort.

This chart has not changed and we spoke yesterday about how important this confluence level is at the 0.38 Fib and the 200 Day MA, as long as the price stays above this level....Wave 5 next...

$SE TOP 20

$SE has started the week off strong and has showed an impressive bounce off the 0.618 Fib, this is the battle ground now I think. This is where the bulls and bears will battle to take control, we have the blue line at the $40.60 line so between $40.60 and $40.10 is the area that needs to hold as this is a confluence level.

If $BABA reports this week and if it is another positive beat, then we have $AMZN and $BABA showing streng...