The Long Investor

$NKE TOP 20

Very little I can say here that has not been said already, its consolidating above the red line here at $88, bulls know they need to defend this line and they need to get back above the yellow support line and the 50 Day MA too, so above $96, to make an attempt to save this.

Otherwise, you should wait and we won't rule out a drift down below the blue line under $82.

$MSFT TOP 20

$MSFT just finished the week at its 50 Day MA and the 0.618 Fib red line at $414.

It is showing also that it hasn't decided on its direction next either until the important economic data gets released this week but I have both the impulse case moving higher to $456 and the correction as before, with Wave A moving to the 200 Day MA.

Bulls caught the $388 level by $1 at the end of April, losing $388 and this was on a fast track route to the 200 Day MA but they stepped in with the ma...

$INTC TOP 20

Continues to feel the pressure and is desperate to hold onto its 0.78 Fib but it is looking weak.

RSI however is showing the strength is deep in the red oversold territory so a relief bounce would be expected here next.

Moving averages further confirm the trend here is bearish.

A bounce to the 0.618 Fib would be expected for both the bull and bear case moves here but I would need to see some impulse action before considering a position here.....$AMD and $TSM look stronger ri...

$GOOG TOP 20

$GOOG has still not been able to follow through above its earnings pop and we had added in a trend line here now and we can see that the price pop also hit the yellow trend line which has been in place since late 2022.

If CPI comes in cool, then this will likely move higher with the market but a hot CPI and there is a move back down to the blue line at $155 next.

RSI is also showing that there has been a price rejection too, with lower highs and lower lows have now been recorded o...

$DIS TOP 20

Has been behaving like a model stock right now and is just at its 0.38 Fib which we have had our Wave A waiting patiently waiting for it.

RSI is also showing that the strength is approaching oversold territory which is in line with our Wave B bounce next.

The 0.38 Fib at $106 needs to be converted to support but a hold here and this moves up another 10% or so to complete Wave B, before moving lower.

$COST TOP 20

$COST has had a parabolic move this week, it was below its 50 Day MA last week and the moment it went above the 50 Day, it took off.....this is likely down to the enormous queues outside a $COST store in China when it opened this week, it was an very impressive show of attraction from Chinese consumers.

$COST is not fundamentally attractive here and is extending now.

I have added in another potential Wave 5 target here above the 2.27 Fib at $808 but I don't see this going much hig...

$BTC TOP 20

We have seen this chart a lot now at this stage but I have added the weekly chart here and I am showing the MACD too and I have highlighted the very clear peak to downward trend here.

We have already seen on the daily chart that the price has rejected at the 50 Day MA twice now in the descending channel.

$BTC is not a buy here in this set up and it is still hovering around the 0.236 Fib, I would need to see more of a pull back to justify a positon

Which is also why I like $E...

$BABA TOP 20

The big one this week for the Top 20.

Earnings are due before the market opens on Tuesday and for me, all eyes will be on margins and how much their cloud division has grown, also how their expansion plans outside of China are going.

Any surprises and this is down to the 50 Day MA at $74 which is just at the 0.618 Fib and the wedge breakout level.

Overall, I don't think anything is going to stop $BABA moving higher over the next 12 months, unless this earnings is a complete ...

$AMZN TOP 20

PPI on Tuesday, CPI on Weds.....CPI being the big one, if it comes in HOT and adds to Aprils report, then this will not be good for the market and there will likely be enormous selling pressure so I really can't rule out any option right now.....and I would be doing members a disservice by saying something will definitely happen when there is no way we can confirm this until the print happens on Weds.

So I have added in a potential Wave 5 level at $210 if CPI comes in cooler than expect...

$AMD TOP 20

I have added in the RSI and MACD indicators here to help us to read its direction next, in addition to the 200 Day MA support level and the 0.618 Fib holding too.

Both indicators are showing that a bottom is potentially in for this pull back and there has been a notable drift higher as support has so far being held.

I have a position here but I will not add until I see a higher high and higher low

Getting back above the blue line at $164 would be a strong bullish move.

$ABNB TOP 20

We got out of $ABNB with a nice profit before earnings because we did not like the weakness shown leading to earnings and it had run quite strong leading up to earnings too, the important level to hold was $155 and had lost this three times leading to earnings too....this was enough for us to get out and it was the right signal and move to make.

Price has dropped down nicely to the 0.618 Fib and we will watch for a hold here or at the very obvious potential support level at the 200 Day ...

$AAPL TOP 20

$AAPL is one of only a few Mega Caps that has confirmed its correction and has comfortably completed its Wave A to its 0.5 Fib, bounced as expected for Wave B and I believe this has been running out of steam since its aggressive bounce post earnings.

Bulls will like that the price is above the 50 and 200 Day MA and a further bounce up to the blue line can still be valid for Wave B but I believe Wave C needs to complete next, earnings sales showed a clear concern but it was saved by an e...

$ASML - RC -

Moving in an impulse wave here and nice retest of the blue line which was the previous ATH line in 2021.

So far holding here but still needs to negotiate with the 50 Day MA just slightly above to confirm a move higher.

A rejection here and losing the blue line and this can break down to the 200 Day MA again at $765 right now.

For now, I am leaning towards the impulse wave playing out.

$NUE - RC -

Retesting the wedge breakout level here and the 200 Day MA, after breaking out of this wedge in November, a weak earnings report made this drop right back down to the wedge level and the 200 Day MA but has managed to hold at this level so far.

If this can continue to hold, there is no reason why this can not bounce again back up to the First Target at $220.

PE of 10

FWD PE of 13

Makes this attractive but they need to make sure there is not another miss for their next e...

$NU - EARNINGS ON TUES -

$NU reports their earnings on Tuesday after the close.

Price has run incredibly strong since the start of 2023, from $3.30 to $12.25 and I can see 5 waves clearly in this impulse wave.

Like the market, we are watching to see if there is potentially one more leg up here....which would bring this all the way up to the 4.618 Fib which would be quite extended.

A positive earnings and it can run to $13.91....a bad earnings with any misses and the ABC correction is next as shown. ...

$CCI - RC -

Pull back has come down to the 0.78 Fib, so far this is valid for a Wave 2 but the price remains below the 50 and 200 Day MA, price needs to flip these MA's to support next to verify the impulse wave up.

Any failure or rejection here and this will likely come back down to Wave X and test the 7 year low at $76.

$FOUR

Request for this chart and it has been some time since I last uploaded this but I believe it is still in an ABC count here, having only IPO'd in 2020....what we have witnessed from new additions to exchanges is that they tend to open strong, followed by a strong pull back to their opening low or even a new low before rising again in a corrective wave.

This is how we are seeing this move here too.

$FOUR has had back to back negative earnings tho and is below its 50 and 200 Day MA t...

$Z - RC -

Zillow has had a difficult number of years and high interest rates have not helped the housing sector.

Margins are not strong and the chart is showing a consolidation in this blue line range for the last 2 years.

I am not seeing an impulse wave forming here either and the price continues to drift lower and likely going to test the last Fib at $37.

If the red line is not held, then I expect a test of the blue line which has been an historical support line since 2019.

Th...

$EUNY - RC - SAFE HAVEN -

$EUNY is an emerging market dividend ETF which has not been doing as well as the global dividend ETF I just uploaded over the last 10 years but it has started to reverse since November '23.

Above the 50 and 200 Day MA here too and there is a route back to the top yellow trend line at $18 here soon.

The attractive part of this ETF is the 7.36% dividend....next Ex-dividend date is due in June too.

$VDIV - RC - SAFE HAVEN -

This is the Morningstar Developed Mkts Dividend Leaders ETF

This has been running strong since the low in November as more capital is rushing into Dividend stocks as a safe haven and store of value.

Very clean ascending triangle breakout here and using the 50 Day MA as support as it moves higher.

There is a route to $45 here to complete Wave 5

Dividend payout is also 3.54%

$SE TOP 20

I will end the week with this little remarkable number

Uncanny but the reversal has come at the right time.

Earnings on Tuesday, so a healthy pull back as we expect and this could be one to take advantage of after Wave 2 completes.

$TTD - WATCHLIST -

$TTD reported this week too and had a comfortable double beat and the share price is remaining resilient.

I like how the structure has developed here into an ascending triangle, with the price action above the 50 and 200 Day MA and testing the top line again at $91.

This has been a resistance line since July '23, so a flip of this level to support and $TTD will have triggered the Bull Case and I would expect Wave 3 next to $144.

Worth having this on your watchlist now.

$IQ

$IQ has not been uploaded for awhile as we waited as this just drifted side ways for over 12 months

We can see that things are starting to move now and there was a test and hold on the 0.78 Fib and the price is back above the 50 and 200 Day MA.

I have added in the impulse wave here if Wave 2 is complete and it is showing a prosperous 12 months ahead.

A retest of the 200 Day MA may come next but a hold here and this is looking good to move higher....worst case scenario is tha...

$ENVX

$ENVX showed some weakness in April by losing the blue support line but quickly regained this level leading up to earnings and bounced quite aggressive following the earnings report.

A jump from $6 to $10.80 was felt and now there is a needed pull back after such a large climb

Bulls will be looking for a hold on the 50 Day MA or at the very least on the blue support line at $7.30, if support can be shown, this can start moving higher as expected to Wave Z.

$EL - RC -

$EL has now been rejected by its 200 Day MA 4 times now since the start of Feb, which is also the last line of defence before the large wedge breakout level too.

$EL reported their earnings this week too and beat their EPS estimates by a whopping 95%....just in time to hold on the 0.618 Fib too and $124 and has since bounced.

The big test remains getting above the 200 Day MA and the wedge line at $141, a break above this level and holding then we can add the impulse wave but there...

$DNA

$DNA is in trouble now after a very weak earnings yesterday.

Revenue dropped, 2024 outlook slashed and there are plans to start cost cutting which usually means downsizing...not what you would want to see from a growth stock.

We can see that the damage was starting to unfold over the last few months after 4 negative earnings reports in a row put this in a downward channel and when the blue line was lost, especially on the retest of the blue line and the 50 Day MA where I have circ...

$BUD - RC -

$BUD has been moving in this triangle since Sept 2022 after a pretty awful marketing campaign that has delayed their impulse move by about a year and a half.

US sales continue to struggle and I believe they have lost the top spot for sales in the US now.

That being said, these sort of set backs can be recovered, as we saw on the $TGT chart.

Wave 2 also held within the 0.618 - 0.78 Fibs, so a standard pull back.

Price is above the 50 and 200 Day MA now so a breakout abo...

$REMX - WATCHLIST -

I am bringing this chart to the attention of members again as it has been following our projection and we can see that the price action has been rounding out at our Wave B level on the 0.78 Fib at $46.

What we want to see next is a test of the 200 Day MA at $58.60 and then a breakout of the channel just slightly above at $60

Once the price has broken above $60 then we can confirm the reversal with a hold above this level.

This is a Rare Earth and Strategic Metals ETF which h...

$HAL

$HAL is still moving within this ascending triangle and right now below its 50 and 200 Day MA but continues to hold support along the bottom trend line as this drifts tighter into the apex.

I have a position and will keep it as a hedge against the price of oil but I will likely not add to my position unless the price breaks above the blue line at $44 again.

I do like how strict the price action has been adhering to the dimensions of this triangle, if OIL bounces, this will likely ...

ZPRG S&P GLOBAL DIVIDEND ARISTOCRATS ETF

This ETF launched in 2013 and has been moving within the blue line range from $33 to $29 for the last 11 years.

Since the COVID low in 2020, we have seen a reset and the formation of a potential impulse wave, as the price has held between the 0.5 - 0.618 Fibs for a potential Wave 2.

Price has also bounced above the 50 and 200 Day MA too, if this can continue up to the blue line, then the bull case can be triggered and this would be an attractive add for a long term investor to tak...