TSLA interestingly pulls back per model...

This post from Wed on TSLA provided a model showing a rising wedge that would likely begin to collapse very soon.  Today, the media is blaming the 3.3% (so far) pullback on comments made about the stock by Elon Musk.  He quipped that it was "kind of high" and that is being attributed to the selling.

Of course this is just another fine example of how the media trains the public to justify everything second by second instead of understanding that the shares were primed for a pullback simply because the herd was already getting nervous.  The charts tell us how any news is likely to be taken by the herd.  I have seen hundreds of times where bad, and I mean really bad, news is ignored by the markets because the upward wave count was not completed yet and also many times like today with TSLA where some trivial comment is treated with significant selling.  As Prechter likes to say, the stock market is a mood indicator for the herd if it is nothing else.  Everyone is affected by the herd think whether or not they believe they are.  It is very, very difficult not to be because it is part of the nature of humanity to be a herding species.

In any case, I see a lot more selling in the cards for TSLA shares as long as the new resistance of the upper rail holds and that lower rail is subsequently taken out.