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.
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| TSLA - 60 Min |
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| SPX - Daily |
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.
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.
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.
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.
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.
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| TSLA - 60 Min |
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| 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.
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| SPX - Daily |
Monday, February 6, 2017
2/6/17 - EOD Update
Looks like a combo corrective for (4) was the plan vs the triangle I was previously tracking. Wave (5) = (1) at 270.
The alternate is that a larger flat or larger triangle could be in play if TSLA needs to consolidate further with time.
SPX continues to wedge higher. Though it is the alternate on the chart, the nested 1-2 i-ii appears to be the better primary count (too lazy to relabel) so long as 2193.81 holds.
The alternate is that a larger flat or larger triangle could be in play if TSLA needs to consolidate further with time.
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| TSLA - 60 Min |
SPX continues to wedge higher. Though it is the alternate on the chart, the nested 1-2 i-ii appears to be the better primary count (too lazy to relabel) so long as 2193.81 holds.
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| SPX - Daily |
Friday, February 3, 2017
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