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Tesla Stock is Vulnerable to a 40% Elliott Wave DeclineTesla, Inc., formerly Tesla Motors, Inc., designs, develops, manufactures and sells fully electric vehicles, and energy storage systems. Its market cap is approximately $86 billion. In Tesla's case, investors have been too optimistic recently. The stock is up 186% in the past six months, climbing from $177 low in May 2019 to $499 this month. Unfortunately for the bulls, no trend lasts forever. Therefore, once investors run out of optimism, the stock is likely to fall significantly. The question is, How soon? In order to find out if Tesla stock is a good pick now near $500, let’s take a look at its Elliott Wave chart above. The daily chart shows Tesla's entire progress since May 2019. As visible, the price appears to have formed a textbook five-wave impulse pattern, labeled 1-2-3-4-5. It certainly has been a wonder to behold while it lasted. The problem is the Elliott Wave theory states a three-wave correction follows every impulse. Normally, the corrective phase of the cycle would erase the entire fifth wave. For Tesla, this means a sell-off to the support of wave 4 near $327. The Moving Average indicator reinforces that the price is overextended. If this count is correct, the next couple of weeks can be a lot different than the past two months. What's your view on Tesla Stock?
NASDAQ:TSLAShort
by Veejahbee
10
The S&P 500 Index Weekly And The 9.618 Fibonacci ExtensionHello Traders, This is the weekly view of my monthly chart. Check Related Ideas below. I want to share my view on the S&P 500 Index. I have shown the monthly chart which goes back to the start of the S&P Index as far as I know. From here I have used Elliot Wave theory to mark primary wave 1/2 around the 1930's crash. After the Great Depression to "stimulate" the economy the government first cut dollar ties to gold. Then in 1971 the dollar left the gold standard. The market went on a massive bull run for 67 years with gains approximating 32,500% This bull run topped in 2000 which was the year of the dot com bubble. I have marked that peak as the top of primary wave 3. The market then went through a brutal ABC correction with the dot com crash bottoming in 2002. Then when things seemed to be on the way back up the housing market crisis happened in 2007. This series of events was devastating for the economy and is widely considered one of the worst financial disasters since 1930. The economy has not recovered properly since. I have put a series of fib sets on this chart which are quite interesting. When price approaches the 8.618 + range this is usually a danger zone. Price is approaching the 9.618 extension on the black impulse set so I am expecting something to happen here. For a wave 5 this might look a bit small but lets see. If price does push past that fib set then the bear wall is next resistance.
SP:SPX
by WickHunter
Gold & The Coming RecessionShort term Gold prices will fall going into mid April 2020. After which there will be a strong correction in the stock market as the economy heads into a major recession which will last for 18 months. Capital will seek Gold as a hedge driving up Gold Prices going into mid December 2020. There will be a short 1 month recovery after which the trend will continue throughout the majority of 2021 with a peak in Gold prices around mid November 2021. This chart coincides exactly with a chart I posted showing this 18 month correction in the S&P 500.
TVC:GOLDShort
by cldx
Potential S&P 500 ScenarioIt's been a while since I shared anything like this... most of the last few things were experimental historical models... This is all based in Fibonacci, both price and time... this would have us peaking at about 3450 around late September 2020... Though I don't have the count posted with it, it is based in Elliott Wave as well... The EW concept here is an extended wave 1, with 3 being 0.786 of 1 and 5 being 0.786 of 3 - which leads to waves 3+5 equaling wave 1 (typical when 1 is extended)... Just thought I'd share what I was looking at
SP:SPXLong
by J-Streak
The 2020 Presidential Election (Pat's Crystal Ball Vision)On this cold wintry night in North East USA, I trek through the wet snow, and down the rock wall through the rabies ridden ravine of plastic and brush, close to the steaming waters of the Passaic River.. ONLY THERE is where I gathered my supplies for the future eyes. A nuclear salamander, a deformed frog, a defective exhaust pipe, a bit of river pool slime.. everything I needed. A flash freeze, to an immediate smelting, A slow mix with a pinch of salt.. And as I looked into my crystal ball This is all I saw The older I get the more cynical I am of politics. I'm not one to argue about them, but I definitely have more of an opinion than I did when I was 18. I don't know enough to say who should do what or where or when... I just like to look at charts.. Opinions from all sides are welcome
SP:SPX
by CadillacPat
The S&P 500 Index Monthly And The 9.618 Fibonacci ExtensionHello Traders, Here is my view on the S&P 500 Index. I have shown the monthly chart which goes back to the start of the S&P Index as far as I know. From here I have used Elliot Wave theory to mark primary wave 1/2 around the 1930's crash. After the Great Depression to "stimulate" the economy the government first cut dollar ties to gold. Then in 1971 the dollar left the gold standard. The market went on a massive bull run for 67 years with gains approximating 32,500% This bull run topped in 2000 which was the year of the dot com bubble. I have marked that peak as the top of primary wave 3. The market then went through a brutal ABC correction with the dot com crash bottoming in 2002. Then when things seemed to be on the way back up the housing market crisis happened in 2007. This series of events was devastating for the economy and is widely considered one of the worst financial disasters since 1930. The economy has not recovered properly since. I have put a series of fib sets on this chart which are quite interesting. When price approaches the 8.618 + range this is usually a danger zone. Price is approaching the 9.618 extension on the black impulse set so I am expecting something to happen here. For a wave 5 this might look a bit small but lets see. If price does push past that fib set then the bear wall is next resistance.
SP:SPX
by WickHunter
SPY EOY ForecastI think a leg to the 320 area or back down to the 303 area on the SPY are likely. Personally I have a bias towards the 320 side as we approach the anticipated completion of the US/China trade deal. Whether we actually get the deal or not is a coin flip in my opinion but I do expect the market to continue rising in anticipation. If it falls through then we will very likely see 303 and possibly lower and if we get confirmation of a deal (and it's a good one) we will likely print 320 and beyond in early 2020.
AMEX:SPY
by BrownBearTrades
2
S&P 500 Price Action Analysis | The Direct ProportionSP500 is still consolidating above the Range High and needs to break out the Key OB. The direct proportion between the volume and the price action (higher highs and higher lows) is indicating that this distribution isn’t done until it reaches its targets. Entry: 2881 SL: 2719 TP-1: 3089 TP-2: 3219 R/R: 2.09 ‪Please let me know if you have any suggestions or any ideas to add. I can also give you more detailed explanation for this specific trade setup.‬ ‪The ideas published here are not financial advices. ‬
FX:SPX500Long
by CompositeTrader
S & P Breakout incoming 3,300 BLOW OFF TOP INCOMINGLooking for a breakout of this rising wedge to new ALL TIME HIGHS. My target is 3,300 or close to it then going to close my position or keep a tight stop. Do all time highs in the S and P make sense with the Global slow down, manufacturing recession, Dow Transport crashing, isolationism around the globe, China economy slowing.... no, but greedy investors are looking ahead to stimulus, money printing, dollar devaluation to save us all. Will it work? Probably not, but that greedy money on wall street does not care. Take there money, BLOW OFF TOP INCOMING
SP:SPXLong
by noahkeene
12
S&P analysis; bullish structure but at an inflection pointWe are right at a level here, which is the log .618 of the local range and also the neckline of that previous broadening formation that can be indicative of a major top. I think this will be the level to break and close to potentially take out the ATH in the coming days/weeks. The current daily, if it were to close as is, would look like a bearish hanging man but not jumping to any conclusions yet as we appear to be in macro bullish structure (ascending triangle within larger ascending triangle) More detailed analysis here
OANDA:SPX500USD
by jthrasher
Buy targets on SPYOne of the best ways to outperform the market is to buy the S&P 500 (SPY) or a leveraged S&P 500 index fund (UPRO) and simply hold it for the long term. However, the price at which you enter such a buy-and-hold trade is extremely important. If you get a price that's 50% cheaper, you'll make 100% more money over the lifetime of the investment, because you'll have twice as many shares as you would have otherwise. This year is a great year to enter a trade like that, because the market is so weak. But you never know how low prices will go, so the best strategy is to scale in. Here are four relatively conservative buy targets for the S&P 500. These targets assume that we won't enter a full-scale recession this year, which is a big assumption. (Google "Federal government has dramatically expanded exposure to risky mortgages" to see why there's a lot of recession risk. A recession would be, by far, the best time to enter the market for a buy and hold play.) I was pleased this morning to see the market bounce hard from my first buy target. I managed to pick almost the exact bottom to get into the UPRO leveraged fund! We probably will see more downside later this month, however, and I've got plenty of money in cash to take advantage if it falls that far. I like to triple my holdings at each successive buy target, so I've only acquired a relatively small position so far.
AMEX:SPYLong
by ChristopherCarrollSmith
2