Technical Analysis on TSLA& .SPX
Hello everyone! Today I want to share some technical analysis with you!
1.
Bullish Alternative: $S&P 500(.SPX)$
(1) since mid-Dec., I marked 4850 as final target zone for the melt-up phase of the bullish leg--see Scroll 98 posted 12/16.
(2) now, time-wise & price-wise, SPX has exceeded my estimate & stretched too far.
(3) I'm ready to consider an alternative count.
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2.
Not Too LATE/ Not Too Early:
(1) I have mentioned the BULLISH scenario a few weeks ago in MPW review--that doesn't mean a straight-line up, though.
(2) even with the most bullish scenario, a sizable retrace is still needed.
(3) this change will alter the entire count from 4818.
3.
$Tesla Motors(TSLA)$ Earning AH:
(1) After market close, TSLA will report its earnings--given the price structure, a LARGE move is due.
(2) the previous low of $193 may serve as a magnet--the current downward channel is still intact.
(3) the pressure is mounting and may place a big bet today.
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