You will come across specific terms in these notes (FLD, VTL, and so on). Rather than explain them each time, you will find definitions here: guidance notes for Hurst cycles terminology
Tesla – closing in on 80 day cycle trough.
The last call for an upside extension has been nullified by overall market risk in general and earnings specifically. However with that said price is closing in on an 80 day cycle trough which extends out in time to the end of the month. At the same time and not shown here price is now 2 standard errors below the January 2023 uptrend regression mean. So despite the savage gap down post-earnings, we could still be looking at an ABC zigzag correction down that is approaching snap-back territory. We think downside risk is limited here and that shorts should start being scaled in.
This post was first published on Hurst Cycles Notes.
