Rock & Hard Place

If, or when, Tesla penetrates resistance (shown below), it’s likely to be between a rock, and a hard place.

This type of potential set-up, occurs over and again in the markets.

Usually, there’s some kind of ‘reason’ for the move; a likely suspect, link here.

We should also keep in mind, the ‘marriage’ between Tesla and the administration is over, link here.

What could that mean for the future of EV subsidies? (not advice, not a recommendation)

Tesla TSLA, Daily Close

As shown, Thursday, June 5th, was the largest single day down-thrust energy, ever.

When looking at the weekly (not shown), downthrust Force Index for week ending June 6th, was also the largest, ever.

So, we have record level downward thrust on two timeframes.

Stay Tuned

Charts by StockCharts

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