$Tesla Motors(TSLA)$ tsla was the only mag 7 stock to finish the day green last Friday, that shows relative strength. The Spx has been grinding sideways for the past few weeks but the QQQ made a lower low and a lower high. The mag7 etf MAGS has broken down from a distribution pattern. The mag7 holds the highest weight in the Spx index, so them showing weakness is not a good sign. February is the second weakest month of the year, I believe the market will continue sideways, so I will continue to sell covered calls on tsla stock until the end of February.
$Tesla Motors(TSLA)$ dropped to the 200 sma and bounced hard just as I predicted in last week's post. Now the question is, is this just a dead cat bounce and lower we go? The nasdaq 100 made a lower low on the daily chart. I'm watching for the lower high, could be any of the moving averages overhead or it could clear all of them letting everyone think higher we go and form a bull trap. 2026 is tougher to navigate with all this sideways chop, but if you're a long term investor like me it doesn't matter just buy great companies at low valuations and hold them through the ups and downs. Whatever happens in the short term is anyone's guess, in 5 to 10 years my portfolio will be a lot more valuable than it is now that's all I know! Huat ah! [Mise
$Microsoft(MSFT)$ Everyone dumping this wide moat company like it's a shitcoin lol that's great sell me more i wish I had more money I would love to buy as much as I can
$Direxion Daily META Bull 2X ETF(METU)$ Meta broke out of a double bottom pattern and is now testing the neckline as support if it holds meta can make new all time highs from here
$Tesla Motors(TSLA)$ tsla pumped last Friday after news that SpaceX and Xai are merging with Tesla, but price rejected at the converging moving averages. Futures are down heavily today as the crypto is sell off worsens. I believe price will trade lower this week. Watch the rising 200 sma, if price drops more that would be a good support level and a great entry point to go long. Would you buy tsla stock at the 200 sma?