Saturday, February 11, 2017

2/11/17 - TSLA and SPX Update

Looks like TSLA's wave (5) now = (1) at the level previously mentioned. The question now does it take a break here or head straight for the all-time high near 291?

The 260-270 level has been resistance several times in the past and what now looks like five completed waves would make me pause.

Some retrace levels should we see a small pullback.

TSLA - 60 Min 

TSLA - Weekly

My apologies. I have been lazy and did not re-label the daily SPX chart. It's certainly more bullish than the previous ending diagonal count. That was invalidated when wave iii extended longer than wave i. 

At this point, there is no reason for concern on this count unless 2193.81 is taken out when wave iv develops. 

SPX - Daily

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