The earnings report is now behind us and share price is off this morning, but if it is anything like the last post earnings reaction, it is merely leading to a buying opportunity similar to Buy Signal on May 5th. I've embedded a Fibonacci retracement window under current prices and stretching out about 30 days and possibly to the mid $200's. Consider this an opportunity to exit Sep expiration and look to roll into Dec monthly expiration during this retracement. TSLA 240 Minute Trading Model The correction projected is worse case in terms of price and time, but the key take away is a fresh major buy when its over. The earnings report was stellar, and nothing but good news should be forthcoming over the next few quarters. I'll cover it in more detail in future updates, with my usual pound the table flair the deeper TSLA corrects. Big Picture Only the DJI is holding up today, which could lead to a slew of Sell Signals in the next few days, QQQ and IWM among them. QQQ Intermediate IWM Intermediate VIX Not enough market weakness to turn VIX bullish, but I am monitoring it reasons to buy calls. Not yet.
