Recent content by bmd00

Great observation. But do you see the daily chart's 21 EMA and 50 SMA are below SP today? In May last year, these moving averages were exactly flipped relative to SP and acted as resistance rather than support. Also possible is a 5-wave DCB. See below. If this is a DCB, like the others...

When I see these long upper wicks on the green days, most importantly May 13th (the day of the supposed end of correction), it tells me there’s hesitation from the bulls. Whereas on the red days, the bears are in control from start to finish. Perhaps this is telling us we may not be quite ready...

Yeah, this is similar to Monday, Mar 11th. Another telltale sign of DCB is the flat price action at $168 for most of the day on Friday.

IF, and that's a big if, we've ended our first leg up, 176 is likely the bottom. At this level, we have the 50 SMA, 0.382 fib retracement, and horizontal support. I see a 0.01% chance we go any lower than that. If 176 is hit, do not hesitate to enter longs. That being said, it's also extremely...

I got a phone call from a friend and long-time shareholder last night. He was genuinely concerned that I hadn't yet bought back in. I've only seen him have this much conviction a handful of times. He may have been overly optimistic for much of the past few years but he's a very smart guy and...

Is $159 still in play? It's much less likely now that SP opened at $188. Watch for SP to retrace starting sometime between today and Thursday. Other than the obvious fundamental developments, there are too many people starting to get FOMO which is making it very hard for tsla to retrace. When it...

Driving cybertruck in person is probably the closest you’ll feel to being a celebrity. Although be prepared for some Elon haters to cut you off and give you the bird.

I’ve been reading several books about Elliott Wave Theory lately. Many Elliott Wave theorists claim that logarithmic charting is better for longer-term trends while arithmetic is better for shorter-term trends, although they say you should test both. This is because arithmetic charting only...

Trading is like a game of poker with no blinds or antes. It's like a poker game where you can fold every hand until you're dealt a monster. But rather than it taking a few minutes or a couple of hours to be dealt a playable hand in poker, it can take months in the stock market. In trading, Mr...

“Although prediction of target levels well in advance can be done surprisingly often, such prediction can be irrelevant to making money trading the stock market. All one really needs to know at the time is whether to be long or short.” - from Elliott Wave Principle by Frost and Prechter

More valuable than any book, any analyst, or any technical signal is learning from your own mistakes. There’s too much noise out there in the TMC and X. Too many opinions all mostly rooted in emotions or with some agenda. Until recently, I really only studied the chart, past and present, looking...

You know the chicken and the egg debate? What about fundamentals vs technicals? For those who believe in Elon, have been following him for years, have read his biography, and who believe in TSLA and FSD and robotaxis and optimus, it may seem obvious that the fundamentals will eventually catch...

And there's this monthly bearish divergence looming. It appears the music is just slowing...but what might the music do a week, a month, a year from now, Mr. Sulivan?

Could you share your chart and reasoning?

While the technicals thus far have indicated tsla still has further to fall, the past 2 days have changed things a bit. So I will give the bull case for why we could be at the start of a new rally and how I plan to trade it. At this time I don’t have any position in tsla. Please note that the...