On Monday the US stock market is closed for the Martin Luther King, Jr holiday. We resume trading on Tuesday, the day after the inauguration of a new President. Tuesday should also kick off the beginning of a new leg up or down in the stock market. The strength of the past few days has not been quite enough to turn the picture bullish, but it is getting closer, making the first few days of next week key going forward. I'll review the charts and provide some alternative interpretations in tomorrow's weekend update, including a review of this stock and whether it is time to accelerate accumulation of leveraged calls. TSLA TSLA Calls Note: The TSLA Jan 17th $240C bought on April 29 2024 is finally going off the board and at a significant gain. It was first suggested in the April 26, 2024, "Into The Close." The TSLL positions above are still shown even though each has declined 50% from its Best Return, triggering trailing stops for some to all of the position. I will discuss in detail the recommended replacement to our Long TSLA options in the coming Weekend Update. For now, consider the calls below: TSLL - March 21st Expiration TSLL If EW is right, TSLL is targeting $55 - $75 for next leg up.
