A reminder that there will be a flurry of Fed, inflation and monetary news coming out at 2:00pm EDT today. An adverse market reaction could generate market weakness, either transitory or kicking off an intermediate term leg down across the board. Wait and see. As for TSLA, from looking at a long term chart the price action up from $40 low in June of 2019 appears to be an impulse wave up, part of a five wave EW pattern, with the decline from $900 earlier this year a Wave 4. That would mean Wave 5 up is still ahead with a price target of a minimum of $2,000 (weekly price chart, log scale) by mid-2022. To reiterate: Any opportunity to buy TSLA in the $500's will, looking back a year or two from now, be the gift of the decade - so far. Buy TSLA above $635, or in the $500's, whichever comes first. [Chart this weekend.]
