TSLA Update and SPX ES SPY Trades for 2/12/24
RECAP:
TSLA hit its major short-term target of 193.95 for those that took the sniper entry in the low 180s from last Tuesday’s post seen HERE. There is no reason to chase a long here as the potential bottoming sequence isn’t nearly confirmed yet. My personal favorite entry hasn’t even set up yet but could this week. The second chance entry on Thursday was a thing of beauty if you missed the Wednesday entry. The 2/7 post, seen HERE called for dips to be bought above 185.59 and low of day was 185.58. From that post:
Updates for how I would play TSLA will be included at the end of today’s post again. I’ve also included IWM 0.00%↑ in the weekly plan with an additional area of interest and a trade setup in this post.
ES did what ES has been doing on a daily basis and getting bought at our first long setup that it sees. The trap below 5020 was outlined in the Discord at 08:24 EST so we were prepared. Cash hours low of day was 5016.25
It will be interesting to see if we get some early week weakness ahead of CPI and as always, we’ll be prepared to know where dip buying is safe and where we can consider tactical shorts.
-For those that trade SPY/SPX, there is an ES to SPY/SPX converter in Tradingview. See announcements in the Discord.
Discord policy may change to a wait period in the near future. Instructions for access (free for paid substack subscribers) are HERE. Reminder that it can take a couple days to get the invite link and ultimately assigned member status once in the “landing” area of Discord.
-To learn more about what this Substack offers, please click HERE. I would like to avoid people signing up before they know what they are getting.