The charts below are updated through the close of trading on Friday. The despite a steep and fast recovery off of Thursday's low, the stock market is still in the throes of a precarious price pattern with a violent third wave down implied in each of the three major stock index charts. Only a continuation of the Thursday-Friday rally to above the Feb 16th highs can cancel out the bearish patterns. DJI 120 Minute SPX 120 Minute QQQ 120 Minute Index Options - Holding Premium Service: March 18th IWM $200P (4.90-5.00) PRO Service: March 18th QQQ $345P (9.10-9.20) Alternative/Add-On Option March 18th SPY $435P (9.50-9.60) Option Pending - (See next week updates for confirmation.) March 18th UVXY $20C (1.30-1.35) TSLA The good news is that the TSLA 2023 series of out-of-the-money calls are priced where 10X potential gains are once again realistic. Price has to trigger an Intermediate Term Buy Signal before entry, at which time I will discuss the best situated calls for the next Intermediate Term leg up in the shares. As per the chart below, it would take a run above $880-900 before that signal can trigger (break above red trend line). Should TSLA fall into the mid-$700, that number will come way down. Support at $770 has held, but if it fails next support is at $630. If TSLA gets that low, especially on a panic market crash day, I will be buying Mar 2023 TSLA calls with or without a Buy Signal. TSLA Daily
