Most of the idea will be on the chart but basically this thought experiment would be "validated" by: - TSLA Monthly high forms this week (or possible next), - DXY bounce / rally, - VIX moving towards the top of the weekly range plotted on the chart.
This scenario is in line with my broader view that markets are getting overextended and could use (at the very least!) a healthy retrace.
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Looking at the markets today things seem to be unwinding
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Vix reaching 35, it either holds here or moves on to 39 which would be it's next target. That would suggest further downside in stocks, crypto etc.
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So we went down as "predicted", VIX rejected 39 and went back down. Remember though that we are in the WEEKLY timeframe. The rebound is not an invalidation of the thesis just yet...