Tesla testing support, if it holds we might see small rally to test $763 (previous highs)
If support fail then the we have a gap to next support at around $560.
I'm leaning to the Long side of the trade with stop just below the support. But if the stop will be triggered will be flipping to he short side of the trade.
NASDAQ:TSLA
Are we close to the equity bottom or it just started its way down? in the last financial crisis/bubble Spy pulled back from the heights over 50%, at the moment we are still siting at around -23% . So if we will repeat history movies then we should find a bottom at around 233 right where 2018-2019 bottom was. worth to mention that each time when SPY dropped over...
Spy weekly chart testing major support of 200 weekly EMA and RSI at at around 30, it has had hold pretty well in the past at those levels. Good place for long position with a stop just below the 200 EMA. the market is very volatile and unpredictable. Trade safe keep loses short.
AMEX:SPY
AMZN second time testing weekly and monthly KEY support area $101. if it brakes next support around $85-$80. good setup for short, but keep in mind that DXY is dropping prob means the market is bottoming soon. Thats bullish.
NASDAQ:AMZN
Expecting bounce at around 102. at that level we also have a support of 50d EMA and trend line. if it holds expecting to see test of previous heights.
TVC:DXY
