Note: Posts on this site are for education purposes only. They provide one firm’s insight on the markets. Not investment advice. See additional disclaimer here.
“If oil and related markets like XOP, can’t hold or surpass those highs, well then, we have our answer (not advice, not a recommendation).”
Friday’s volume was characteristic of a blow-off move.
As noted on the chart, last time there was comparable volume, printed over three years ago; USO peaked, retraced, made slight new highs, then sideways-to-down, for years.
Note: Posts on this site are for education purposes only. They provide one firm’s insight on the markets. Not investment advice. See additional disclaimer here.
Note: Posts on this site are for education purposes only. They provide one firm’s insight on the markets. Not investment advice. See additional disclaimer here.
Note: Posts on this site are for education purposes only. They provide one firm’s insight on the markets. Not investment advice. See additional disclaimer here.
Note: Posts on this site are for education purposes only. They provide one firm’s insight on the markets. Not investment advice. See additional disclaimer here.
Note: Posts on this site are for education purposes only. They provide one firm’s insight on the markets. Not investment advice. See additional disclaimer here.
Goldman Slashes Tesla Delivery Estimates On Weak Monthly Trends, link here.
All of which feeds into the (EV) supporting side of manufacturing:
Chinese-Owned Firm Halts Construction On Battery Plant In America’s EV Heartland, link here.
Then, on the environmental side, yet another EV fire:
New Footage Shows Abandoned Cargo Ship Laden With Chinese Cars Burning In Pacific, link here.
On the political side, it’s hard to gauge:
Musk Hit Bessent ‘Like A Rugby Player’ In White House Fight, Bannon Claims, link here.
‘Very Disrespectful’: Trump ‘Assumes’ Musk Relationship Is Over, link here.
The reason the politics are important, is because of the subsidies, link here.
On the price action side, we have the following:
Tesla TSLA, Daily
Pre-market trading (as of 8:56 a.m., EST) is around 315.15, slightly below the 50% retrace level shown.
Unfortunately (for them), the ‘retail’ investor, is telling us where the probabilities lay (not advice, not a recommendation).
Retail Woes
Before we feel sorry for ‘retail’, we’ve all been there at one point. Robert Prechter Jr., said it best when asked, ‘What advice, do you have for the average investor?’
His response was timeless: ‘Stop being the average investor’
What’s Next?
We’ve just had the largest downward force in the history of TSLA, a rebound fueled by apparent desperation, price action at or near the 50% retrace (from the 5/29, highs); the overall probabilities have become clear.
Note: Posts on this site are for education purposes only. They provide one firm’s insight on the markets. Not investment advice. See additional disclaimer here.
Carvana could reverse right here and now. Anything can happen.
With that said, when looking at the chart, Carvana continues to grind higher to the next Fibonacci target(s).
We’re talking about targets (plural) because CVNA, price action’s exhibiting both time and distance characteristics, presented in the last update, link here.
Carvana CVNA, Daily
If the rally continues and makes it to target at ‘Day 89’, it will be all-time highs for CVNA.
Hitting all-time-highs, think of the hysteria; exactly what would be needed to look for a short opportunity (not advice not a recommendation).
All the while, competitor CarMax, continues trending, lower.
Note: Posts on this site are for education purposes only. They provide one firm’s insight on the markets. Not investment advice. See additional disclaimer here.
Yesterday’s update, presented the idea, silver may be at an inflection point; either reversal or sideways action (not advice, not a recommendation).
In the case of gold, we’re still below the highs set on April 22nd.
As of this post, the gold contract GCQ25, is trading slightly lower (6:55 p.m., EST)
Note, the last analysis on gold, GLD, presented the ‘Force Index’ indicator for potential reversal.
Until gold, GLD posts a decisive new high, past 317.63, that indicator is still in-effect (not advice, not a recommendation).
Gold GLD, 8-Day
Note the possible blow-off price action and thrust energy.
Also note the downward thrust.
This size of downward force has only happened twice before; the 2020 panic lows, and the last time gold started major, long-time reversal (September, of 2011).
Note: Posts on this site are for education purposes only. They provide one firm’s insight on the markets. Not investment advice. See additional disclaimer here.
Silver’s in the long (decades long) awaited breakout to hyperinflationary heaven, or …
Door No. 2
Silver has met its Fibonacci target, ready for reversal, sideways action, or …
Door No. 3
None of the above.
Then, what about the Miners?
It looks like they (GDX) have already decided.
No sooner had Friday’s update been released, they appear to have reversed (not advice, not a recommendation).
Obviously, there’s a lot going on in the markets and it’s happening fast. We’ve already been told what’s (likely to be) coming.
Back to silver, SLV.
Silver SLV, Weekly
The chart shows what looks to be a corrective a-b-c (against the trend) move that’s lasted several years.
Note the ‘alternation’ of the moves.
Wave ‘a’ was dynamic, straight up. Next wave higher, wave ‘c’, is choppy and overlapping.
Moving in closer, we have the following.
The chart itself, says we’re back to the volume ‘spikes’ that typically occur (for SLV) at, or near, the end of a move (not advice, not a recommendation).
To add intrigue, note the massive downward thrust of Force Index during the ‘Tariff’ uproar.
Note: Posts on this site are for education purposes only. They provide one firm’s insight on the markets. Not investment advice. See additional disclaimer here.
The Danger Point® 