TSLA has triggered a fresh interim Buy Signal on its 240 Minute Trading Model. Any close above today's high print, 192.70, is our trigger to buy calls. We are making two option recommendations based upon this signal, one long-term LEAP and one shorter-term call going out six months. PRO subscribers are always free to choose their own option strikes/expirations, but these are the two that will be tracking going forward. TSLA Buy Signal: Pending on close > $192.70 Sep 15 2023 $250C (12.90-13.05) or, Jan 17 2025 $500C (11.00-11.45) Target: TBD as five wave sequence up unfolds Stop: 50% trailing Caveat: Our TSLA Intermediate Term Trading Model (chart below,) which is based on daily price bars, has not yet flipped from bearish to bullish. This model is traded in the Blue Line Premium Service and has a more conservative entry/exit algorithm. Going all in with calls while this model still not confirming the Buy is too aggressive a move at this time, but the 240 Minute Intraday Model is good enough to merit at least an initial position, one that can be added to if and when the Daily Model confirms. Alternatively, just wait for the Daily confirmation signal before buying any calls, which could come at any time, especially with a close above 192.70. TSLA - Daily Intermediate Term Model Tuesday of FED Week: Big Picture Look SPY - Today's rally stopped right at the 61.8% retracement of wave iv down. More volatility coming tomorrow with FED-talk and attendant speculation. Key Level on SPY even more Key with this rally. If SPY fails to hold key support, look out below.
