Madrid

Madrid Wizard

$SPY The 2000+ level and the all time high record news are already a thing of the past. We have reached the peak and now the market is in correction mode, Are we already in a Bear Market? Not yet, but we're heading to one. In the Monthly Big Picture, the US Market has been in an uptrend with two major previous peaks, the eBubble and the Housing Bubble,...

Madrid Wizard

$TSLA has been inside a consolidation triangle. Right now is at the top of the resistance channel of the mid and short term trend, which means it will retrace probably to the 230's or 220's level. After that this market may try to go for another leg aiming at the 1.618 Fibonacci level at 250's which has been a stronghold point of resistance. What will happen...

Madrid Wizard

Long in this rally until ER. General short bias until the short interest falls below 10%. Higher Lows, Lower Highs = Consolidation After it failed to break the ATH it fell to the 196 level where it proved it has a support there. However the lack of consistency in Elon's numbers, the verbal war against Apple after its announcement of the iCar, the...

Madrid Wizard

A company valued at future valuation, no profits and burning cash like rocket fuel. This is the story, there is nothing wrong with an overvalued company, or a company priced at future valuation. The problem comes when it deviates from its target and the vision of the future is altered by events in the present that may threaten that future. Two key factors are...

Madrid Wizard

$TSLA wan't able to break the all time high level at 292, and since then it has been doing swings between 182 and 286 in a shrinking consolidating range around the 50% retracement of the range which is around 237. It stopped trending, which means this market is undecided about keep on fueling the dream. Currently the Bears are in control and there is no sign of...

Madrid Wizard

If there are no triggering events, then this will go back to the lower downtrend channel support line

Madrid Wizard

After the chart these correction patterns were last seen in August-September 2011. This is a healthy correction as long as it is kept within the main channel support line above 170. The market didn't want to go above 210's range, so this creates a wider trading range. If this breaks below 170 in the following weeks then we'll be in a bull market, if not this will...

Madrid Wizard

After the dump it suffered after the ER the stock started to trade in a consolidating range with very few participation of the capitals who took it to the 280 levels. Today it tried to recover but in general the whole market was green as an average, so we could expect that some drops fell on Tesla too (watch out of the low volume). Is this an uptrend? In the...

Madrid Wizard

The SPY has been inside a consolidating range between 204 and 212 for the last few weeks.

Madrid Wizard

Tesla has to attract fresh investors. and 238 is the level where it has to happen if they want to break above the newly formed downtrend leg. The price could be bouncing between 238 and 265, but beware of the gap formed after the ER day at 254, this will be a resistance going to the upside. If new capitals don't enter Tesla then the current capitals will start...

Madrid Wizard

The Shanghai index is showing support at the 3870 level, with a double bottom in the Daily and support in the Weekly. However the red signs are flashing. Technically we can expect a rebound to 4224 and if strong enough to 4700. Since we're still in negative territory and the close in the weekly is below the 34 EMA, this could act as resistance and after the...

Madrid Wizard

Heading into earnings we can expect anything from TSLA. We don't expect profit, neither Elon Musk who declared Tesla would be profitable by 2020. So whatever the number is, either if this exceeds or not expectations what it really matters is how close to the 2020 vision Tesla is. If this is in line with that future vision or not. We have reached levels close...

Madrid Wizard

Heading to the 2QY2015 Tesla's Earnings Report we can see an alternating bull/bear sentiment. Unless a big announcement is released prior to Earnings we can expect a trading range between 250 and 272 under the Gap left after the ludicrous mode announcement and the sell off. A gap is a support if the prices are above it, and it acts as resistance on the way up,...

Madrid Wizard

The market is rallying, but TSLA is lagging. The 258-256 is a consolidating range, if this is broken to the upside it will make a bear flag until 260-ish level, but if broken to the downside, this will break the temporary short term support channel in the 30 min. chart. By the way the main uptrend channel was already broken, so it is unlikely it will go back to...

Madrid Wizard

This week has been a very active week with a deep plunge in the Chinese market that caused half of the market to be halted, the rejected austerity greek plan and the possible Grexit, plus the "Glitch" that paralyzed the NYSE and put a virtual halt and slow down in the volume of the other exchanges. It was an explosive week, and it's just the beginning. We can...

Madrid Wizard

Tesla is a momentum stock, it doesn't pay dividends, has a high and wild volatility perfect for swing traders. It is a cult stock, which means the traditional fundamental valuation doesn't reflect the price level. This mix makes it a very explosive stock on both sides, bull and bear side. Tesla is way overvalued from the fundamental point of view, logic says...

Madrid Wizard

Since early March this year AAPL has been choppy, no trend, just bouncing and consolidating around 128 above the 55 and 89 EMA's What I see here is that the moving averages are coming too close together and when that happens usually a big move comes after. As long as it keeps trading above the 55 and 89 EMA's it's OK, if not then the move will be to the downside....

Madrid Wizard

All major indexes started the week positive, and the defensive sectors like utilities, bonds, gold and vix are down. However the range is still not broken, this is a trading market. As long as these levels are not broken nothing is happening, just day trading, consolidation and choppiness.