In the hour before the Fed statement and later today's release of TSLA 4th quarter 2024 earnings, there is nothing to do or even address in terms of trading. How the market reacts, especailly going into this weekend, will be provide all we need to gauge direction, both in the general market and TSLA ,over short and intermediate term. As soon as we get that reaction, we can craft any new strategies going forward. For the time being, a TSLA chart I sent out to PRO subscribers this morning, suggesting the likelihood that in few months after earnings, share price is likely to be much higher, no matter what happens with earnings today. TSLA 180 Minute Chart The 3-hour TSLA chart immediately below includes the last three earnings reports, all of which marked, within days, the end of second waves, in front of massive third wave impulses higher. The late April report was followed by a run from $145 to $271, a two-month gain of 86%. In August, the run took share price from $180 to $260 over the ensuing two months, a gain of 44%. The most recent earnings report, in late October, marked to the day the end of Wave (ii) @ $215, from which TSLA ran up to $488.50 in mid-December, for a gain of 127%. A repeat of any of these post-earnings price performances from around current levels ($394) takes TSLA to a range of between $567- $894, which is pretty darn close to the Fibonacci extension tool's projected range for Minor Wave 3, i.e., $680-870. Link to 2024 TSLA Closed option trades. Big Picture - QQQ Going Into FOMC Reaction No reason to adjust bearish leaning expectations, key closing levels are: Above 540 (bullish) or below 500 (bearish). More to come, either Thursday or Friday, depending on market movements over the next day or two.
