Market Check: Tesla Targets $440, SPY Needs a Breakout, Micron Flashes a Caution Sign

PeterDiCarlo
03-17 13:57

Three names, one timeline:

the next two weeks determine whether Tesla and SPY extend their rallies or roll over. Micron is up 286%—well past the buy zone.

1. $Tesla Motors(TSLA)$

TSLA: Long + short-term models are aligned ⬆️

Short-term target (6–8 weeks): $440–$450.

But we need a strong rally in the next 2 weeks to flip the Monthly BX back to green.

If that does not happen, both models drop the bull case and I expect a selloff toward $300 🤞

2. $SPDR S&P 500 ETF Trust(SPY)$

SPY +1.20% to start the session.

For this bull cycle to continue, we need a strong breakout in the next two weeks that turns MBX back green.

If that does not happen, my base case is a move to 680 to 685, then another rejection.

3. $Micron Technology(MU)$

MU bull cycle is still in play and it is up +286% since Monthly BX flipped and our long-term model triggered.

Avg rally on this model is +172% in 49 weeks.

We are well past that. This is NOT a buy zone. ⛔️

If you are buying here, you are not getting a discount.

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