TSLA Update Breaking News: TSLA was not admitted into the S&P 500 when the restructuring was announced late Friday. Not so coincidentally, Bill Gates did not include TSLA in his list of leading electric car companies for his new green world: "You’ll even be able to buy an all-electric pick-up truck soon thanks to legacy companies like GM and Ford and new carmakers like Rivian and Bollinger." Link "They" continue to hate Musk, hate TSLA and hate that believers like us are getting rich buying the shares. The stock may take a hit on Tuesday, but remember it fell 50% into the March lows before soaring from (split adjusted) $70 to $500 in less than six months. Weekend Update Just three charts is this abbreviated Weekend Update that will cover where we are in the Big Picture and provide some key levels to watch out for on Tuesday. QQQ The entire rally up from the March 23rd lows has been contained in a trend regression channel that was deeply punctured on Friday. We would want to go all in on the short side (QQQ Puts) but for the fact that QQQ closed back inside the channel at Friday's close. So we wait one more day. If the index breaks down below the channel again on Tuesday, we will get very aggressive on the that short side. In the course of breaking down through the up channel and then closing back inside the channel, QQQ has retraced to inside its Fibonacci window (38.2-61.8) for a termination of the corrective upswing and resumption of the new leg down. Once more we must wait until Tuesday for a resolution. The Big Picture: 2000-2020 (Political) Analog: Nasdaq 100
