Big Picture - The market will show us the way, we just have to be paying attention Trying to fine tune a precise entry into a multi-month decline is not nearly as important as recognizing it is already underway. Until key levels are broken on QQQ, there is no "recognition wave" to hang our Wave 3 option strategies around, even though that massive decline leg may have already begun. As pointed out so many times, until there is an obvious breakdown, we hold off going all in on the downside. By the same logic, until an obvious breakout spike on VIX, we hold our fire there too. June calls have two months to go and VIX can double and then double again all in the same expiration month. That's a move from 16 to 64, so when it comes it won't matter too much how long it took to get there. QQQ VIX - Six-year trend support line - overdue for a gap & run, spiking to 50, minimum. TSLA The lower this Wave (2) goes the more solid the foundation for its next leg up, expected to last a minimum of 18 months and reach new all time highs. Reading the analysis of 1st quarter earnings, the company is as misunderstood now in 2023 as it was back in 2019. By the time it is understood, it's market cap will be $3 Trillion and share price approaching four digits. This should be its final dip before the big boys take over again, expect the unexpected from Elon now that his experiment/reign at the helm of Twitter should be winding down.
