11am update - TSLA on fire

Whilst the main market remains something of a confused mess, there is some notable action in Tesla (TSLA), which has failed to hold the key low of $153. There really isn't any support until the $110/100 level, where the 200 day MA is lurking.


TSLA, daily

sp'60min

Summary

TSLA stockholders have seen the important support fail..and I'd be very surprised if we don't see 110/100 within the near term.

I see many out there with targets of 125/20..but really...why wouldn't Mr Market want to wash out all the momo-chasing maniacs down to the big $100 psy level ?

The TSLA bulls had ample warning...not least via the price action of NFLX and FB, both of which had reasonable earnings, but which the market still sold lower.
-


11.05am... top-spike on the sp'...kinda bearish for rest of today/tomorrow.

Bears need to get a daily close in the low 1750s...   that'd make for an interesting reversal.