Um, Yes There Is …
The latest from ZeroHedge is, ‘there’s no one in control.’
The latest from Wyckoff analysis is, ‘price action’s in control’, if you know where to look. 🙂
This week’s watch-list was laid out two days ago, here and so far, all topics discussed, are preforming as expected.
For this update (30-minutes before open) we’re going to focus on Tesla (TSLA).
Tesla, TSLA, Daily
There’s a lot going on.
We’re not in the ‘free-fall’ zone yet, but it’s getting close.
Downside volume has increased significantly.
The channel is being confirmed but we’re nearing support in the 188.00 – area (not shown).
Remember, when price action declines below known support levels, depending on the depth of penetration, we could be in Wyckoff spring position.
There could be an upside response to the break below current support located at approx. 198 – 200.
Q: Is TLSA, a short?
A: That’s at the trader’s discretion (not advice, not a recommendation).
My firm’s accounts do not have a position in TSLA … and if/when they do, it would likely be small.
It’s true the EV hysteria is a bubble. Supply chain collpase will make sure of that.
However, it does not even compare to the ‘elephant’, and we all know what that is.
Positions, Market Stance (courtesy only, not advice).
This sector and leveraged inverse LABD are highly volatile. Character of the market can change at any time.
LABD may be exited without notice.
Entry @ 19.88, 19.71, 21.23, 21.65, 22.16*** Stop @ 20.21***
Note: Positions may be increased, decreased, entered, or exited at any time.
***, Indicates change
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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.
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