Tesla Update

We are definitely getting a reaction off of this 0.382 as predicted, but it has been lackluster at best. Judging by price action I feel this has still been part of our a wave. If this is to remain standard, then we need to bounce towards the 0.236 fib retracement @ $246.22 and soon. This doesn't mean it is required by the count. These are just standard moves that I am predicting. Notice I said "towards" the 0.236. We don't have to end there by any means and could easily raise higher towards the turquoise 0.618 @ $253.51. Sometimes when I put prices on here, people take that as me saying price will end there...to the cent. I by no means know the future and can't predict every move to the cent every single time. I know the "standard area" price will move to, and the closer we get towards that target, the more I can refine them for more accuracy.


b wave could have technically already started and finished but I find that unlikely. On the micro's we have positive divergence so I would assume, with this information, we should start to raise soon. One thing to remember about corrective waves, is they can last way longer than one would expect. This is due to the choppiness/back and forth price action that gets carved out. I would expect this b wave coming up to be at least $10-$20, but that is not a requirement. When that wave does get carved out, I can then refine my c wave target. Until then, we be patient and wait for more action to be carved out.

I will be out of town for the next two days on a mini vaca for my sons b-day. I'll still have access to the charts via my phone, but it isn't the same as a computer. Due to this I won't be making new posts tomorrow night but will post again Thursday night.

Also, I want to remind everyone, starting March 1st, my posting schedule will be dramatically altered.

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Judging by the current price action it appears a is done and c wave has started with a VERY shallow b wave. MACD on the micro levels is the primary reason I think this. Structure supports it, but that is a very shallow b wave. For this reason, I have added a turquoise a on the chart. This would be a deep a wave but is still a very real possibility.