Hi YXI friends,
I am travelling between this Friday and Thanksgiving. This Thursday will be my last day of writing the daily insights until December 1st.
I am really grateful for the tremendous support I have received this year. And honestly, sharing my analysis with everyone here has been highly fulfilling. We may not have met in person, but you are my community.
Thank you.
Now, please review today’s chart analysis of SPY, SBET, RKLB, CRWD, TSM, and INTC.
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DISCLAIMER: This newsletter is intended for educational purposes only. Any information or analysis in this note does not constitute an offer to sell or a solicitation of an offer to buy any securities. Nothing in this note is intended to be investment advice, nor should it be relied upon to make investment decisions. Any opinions, analyses, or probabilities expressed in this note are those of the author as of the note's date of publication and are subject to change without notice.
Table of Contents
1) S&P 500 (SPY ETF)
S&P 500 is now entering the target zone of its wave (c) of 4 correction. I expect the pullback to complete above $650 this week.
We could be eyeing the start of the wave 5 rally before Thanksgiving.
2) SBET
SBET currently trades at 19% discount to NAV. The discount tends to occur during heavy market selloffs, and SBET could trade at a premium to NAV when the market rallies, attracting momentum buyers.
If ETH reaches $10k and SBET trades at par to NAV, SBET should 4x from here to around $40.
Today, SBET tapped the lower end of our wave C target zone at $10 before bouncing. I do think this is an attractive accumulation zone if one believes in the ETH narrative around institutional tokenisation.
3) RKLB
While RKLB attempted a rally after solid earnings, it could not swim against the tide in the recent high-beta de-risking event.
The pullback from the October high appears to be a steep wave 4 of the larger-degree rally since the April low.
Today’s price action has tested the VWAP since that April low. I would turn very cautious if it breaches below the thin orange line. If it could hold above it, we start preparing for a new ATH in wave 5, targeting $100+.
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5) CRWD
CRWD has shown resilience among a broader market downturn, suggesting that investors are comfortable holding onto “quality” during volatility.
CRWD remains on track for its wave 3 of circle-iii, which can target $650 next.
6) TSM
TSM topped in the near term after its earnings.
I am concerned that it may have completed all 5 waves of its rally from the April low. This count fits both the lower degree structure i to v and the higher degree wave (5).
NVDA’s earnings on Wednesday would likely help us confirm this read.
7) INTC
INTC more than doubled its price in the wave (iii) rally. Now it has entered the wave (iv) pullback zone, which could retrace 38% of wave (iii), i.e. down to $31. Note that this is not a requirement for finishing wave (iv), but a standard expectation.
Wave (v) could target $50 to complete the initial rally cycle from the April low.
8) TSLA Machine Learning Signal
Our ML Model favours holding TSLA today.
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