NVDA earnings after today's close and Jerome Powell's Friday morning Jackson Hole speech could make short-term mincemeat of any option positions, so be prepared for volatility up, down, or in both directions for the remainder of this week. I've been at this with this service since January, 2010, and if I've learned nothing else about market gyrations, it's that news will move the market for hours and even days, but in the end the patterns and trends return their their roots. Best advice, either stand aside until the dust settles, or shut off the screen and don't let emotional reaction to headlines affect your trading plan. For anyone preferring to step aside for a few days, I will add new trades as soon as they get triggered, replenishing the arsenal for what could be a chaotic September-October. TSLA The short term model is moving toward a short-term Buy zone. This trigger could be affected by market reaction to NVDA earnings today. Nonetheless, we trade TSLA based on signals and trade patterns, independent of any other factors, macro or otherwise. Stand-by. TSLA 240 Minute Trading Model A move up now above $235-240 will almost guarantee a fresh Short-Term Buy Arrow. This would be consistent with a 4th wave Fib retracement low and the beginning of a 100+ pt 5th wave up targeting well above $300. What it is not consistent with is the seasonal bias to the downside in the coming weeks. The expectation is to be Long new Dec calls going into the Oct 18th earnings report, either with a new Buy this week, or after a Sep low.
