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

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