To The Moon

I have rightly guessed that Fri (13 Jan) market belonged to the Banks.

Click here to read my post if interested.  Pls "Like" it also - Tks.

True to form they did not disappoint.

By the time market closed :

• DJIA : +0.33% (112.64 to 34,302.61).
• S&P 500 : +0.40% (+15.92 to 3,999.09).
• Nasdaq : +0.71% (+78.05 to 11,079.16).

• Both Dow Jones and S&P 500 indexes are above their 200-day MA.  
• In fact, Dow Jones index is above its 300-day MA too.
• It is still prudent to be alert for S&P 500 especially because it has crossed its 200-day MA after Fri (13 Jan) trading only.  The index could still be considered "weak" and "unstable" for its 200-day MA mark !
• Nasdaq has narrowed the gap with its 200-day MA.  Nonetheless still a bit of distance to cover before it could stay above its 200-day MA.

How Will US Market Open This Week ?

Any residual momentum (force) from the 4 Banks' last week's Q4 results euphoria to power the US market on 17 Jan 2023 (Tue) ?

16 Jan (Mon) is Martin Luther King Jr's public holiday in the US.

• Looking at US Pre-market indicators (above diagram) - Red !
• Bitcoin & Ethereum prices for last hour & 24 hours (above diagram) - Red & Red ! *Note : Bitcoin has surpassed the $20,000 per Bitcoin over the weekends.
• Asia markets (ASX - Green !, Nikkei - Red !, KOPSI - Green !, HSI - Green !)
• EU markets - -(DAX -Green !, FTSE -Green !, CAC -Red !).  World Economic Forum has kickstarted at Davos, Switzerland today 16 Jan 2023.

Will $Tesla Motors(TSLA)$  Continue Its Fall on Tue (17 Jan) ?

• With the latest round of Price Slash, total accumulated discount comes up to about 20% for selected models of Tesla EV.
• For a big ticket item like Tesla, a 20% is a substantial amount.
• The immediate perception is everyman for himself.  In this instance, mr musk is only worried about mr musk and its bottomline.  period.
• You only need to google and read about all the unhappy reports of customers feeling "duped"
• From an outsider's viewpoint, the Brand Equity is eroded single-handedly by the same man who claimed to have spent countless nights with the production team to overcome the technical hurdles in the early years.
• With all the negative / bad presss making its round, what is the knockoff physchological effect says about Tesla EVs ?  Its desperate and maybe not as "wow" as what it has made itself out to be, no ?
• In addition, the overused trick of spreading rumours about building a 7th Giga factory in Indonesia should backfire eventually.  Why ?
• The huge amount of monies to invest in building another plant means money diverted away from the Cash Reserves.
• Already there is a glut in supply and little to low Backlogs
• Quality issue is on the rise as well.
• Stormy weather ahead ?

• Do you think the market will continue to rally on Tues (17 Jan) ?
• Do you think Tesla stock price will continue to fall due to the irreparable damage inflicted by mr musk himself with all the craze sales / discounts.

Please "LIKe" this post.  Thanks.  The rating is very important to me.

@TigerStars 

@Daily_Discussion 

@CaptainTiger 

@MillionaireTiger 

@Tiger_SG 

@TigerPM