Wednesday, October 9, 2013

Tesla down another 3.4% today

Wow, TSLA is moving very quickly now.  See the back links if you have not done so already.  I'll keep this update short.  I think TSLA shares finished wave 1 of 3 ("1/3") down and may also have completed 2/3 as well today.  The bounce back up hit the 38.2 fib.  So it could either follow the blue path down into 3/3 tomorrow or follow the orange path to hit the real 2/3.  But after that I see the orange path as the likely next move. 

So basically, my EW model sees TSLA going down pretty hard over the rest of this week, likely with large gaps into a big 3/3rd wave down.  Time will tell.


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