TSLA Oct 6 TSLA Daily - Updated This is the same TSLA Intermediate Term chart we have been monitoring for since early October (Oct 6 TSLA Update), indicating a shaded square where pattern recognition analysis forecasted the path for the corrective a-b-c structure. Price has now dropped into the zone and is approaching the area of the previous Wave 4 bottom at 181.34 in May of 2021. Give or take 5-10%, that is where a Wave C low should take hold, and where a new five wave impulse advance to new all time highs will begin. The bottom is not in so there is no rush to buy LEAPS at this time, but the ultimate low is a lot closer now than it has been at any time in the past few months. The market still has to go through a gauntlet of volatility, panic and fear which should offer up TSLA 2025 calls on a heavily discounted platter to carry us through the next rally phase, which will front-run the full production juggernaut of Cybertruck (1.25 million pre-orders), expected 4th qtr 2023. UVXY Watch With the DJI up 500 pts on election day there is no way UVXY should be up at all, but it is. Worth keeping an eye on as divergences like this are a red flag that all is not well under the hood.
