Tuesday, February 21, 2017

2/21/17 - EOD Update

Looks like the gap-n-go began today as I mentioned on Fri for the SPX. If this is truly the case, I see a potential wave 3 (green target) near 2415-2420. There is a Fib confluence there where wave iii blue = 1.618*wave i blue and wave 3 green = wave i green.

SPX - Daily
 TSLA continues to form the flat/zigzag. Earnings tomorrow. We'll see if it zigs and then zags.

TSLA - 60 Min 

Friday, February 17, 2017

2/17/17 - EOD Update

TSLA decided to extend a little higher to 1.618* wave (1) and then reversed course. So far I have wave a in place with today's bounce either wrapping up wave b or possible more to come with the bullish looking hourly MACD.

That would set up a possible flat and give us a range for consolidation between 287 - 260. We'll see what happens into earnings next week.

TSLA - 60 Min 
SPX continues to work on wave iii with an extension potential to 2414 where wave iii = 1.618* i. I haven't given much time to the micro count but wave iii in my daily looks like a set up for a gap and go type of move higher is in the works. I know folks would find it hard to believe that this market can continue to pop higher but just calling what I'm seeing.


SPX - Daily