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Madrid Wizard

Unfortunately Bitcoin broke its support at 10,000 and 9,000 and for a little while it hit the 7,000 levels. Once the support is broken it means the supply overwhelms the demand and the price drops. At this time the mood is capitulation. The investors are giving up and we can expect more of the same in the following days. Remember Bitcoin is not an...

Madrid Wizard

Bitcoin is at its main support channel line, if this holds then it may start a new rally. So far the indicators say BEARISH, unless the price moves above the moving averages, which is something not happening now, the peaks will still be sold. There are many disgruntled bubble investors who bought with credit card and who put a fortune during the euphoria phase,...

Madrid Wizard

TWTR has double tested the lowest bottom it can reach after it reached the 14 level. It's been trading inside the range 14-19 and trying to break above 19 during the time of an acquisition rumor was running. This time it hasn't needed a rumor to start gaining traction and it's on the upper half of the trading range . It has already passed the Oversold...

Madrid Wizard

We have seen in the previous weeks a lot of chatter and rumors from the media (not from the involved companies) about a possible Twitter acquisition that happened to be just smoke and mirrors. Twitter had reached a low at $13.73, a level where there was no more selling so the indicators started to gain momentum traction. The rumors were spread at a time when...

Madrid Wizard

This market is going nowhere so far in the monthly time frame. It became a trading market not good for growth stock since 2015. Technically it is still inside an uptrend because the indicators are still green and above the zero line, but it doesn't mean it is a strong uptrend like we used to see until 2013-2014, it is rather waning and it has already given us...

Madrid Wizard

At the Upper Channel Resistance level, 220 zone. Possible retracement to retest the 180 level to determine if next is a reversal to the upside or continuation of the downtrend.

Madrid Wizard

$SPY The 2000+ level and the all time high record news are already a thing of the past. We have reached the peak and now the market is in correction mode, Are we already in a Bear Market? Not yet, but we're heading to one. In the Monthly Big Picture, the US Market has been in an uptrend with two major previous peaks, the eBubble and the Housing Bubble,...

Madrid Wizard

$TSLA has been inside a consolidation triangle. Right now is at the top of the resistance channel of the mid and short term trend, which means it will retrace probably to the 230's or 220's level. After that this market may try to go for another leg aiming at the 1.618 Fibonacci level at 250's which has been a stronghold point of resistance. What will happen...

Madrid Wizard

Long in this rally until ER. General short bias until the short interest falls below 10%. Higher Lows, Lower Highs = Consolidation After it failed to break the ATH it fell to the 196 level where it proved it has a support there. However the lack of consistency in Elon's numbers, the verbal war against Apple after its announcement of the iCar, the...

Madrid Wizard

A company valued at future valuation, no profits and burning cash like rocket fuel. This is the story, there is nothing wrong with an overvalued company, or a company priced at future valuation. The problem comes when it deviates from its target and the vision of the future is altered by events in the present that may threaten that future. Two key factors are...

Madrid Wizard

$TSLA wan't able to break the all time high level at 292, and since then it has been doing swings between 182 and 286 in a shrinking consolidating range around the 50% retracement of the range which is around 237. It stopped trending, which means this market is undecided about keep on fueling the dream. Currently the Bears are in control and there is no sign of...

Madrid Wizard

If there are no triggering events, then this will go back to the lower downtrend channel support line

Madrid Wizard

After the chart these correction patterns were last seen in August-September 2011. This is a healthy correction as long as it is kept within the main channel support line above 170. The market didn't want to go above 210's range, so this creates a wider trading range. If this breaks below 170 in the following weeks then we'll be in a bull market, if not this will...

Madrid Wizard

After the dump it suffered after the ER the stock started to trade in a consolidating range with very few participation of the capitals who took it to the 280 levels. Today it tried to recover but in general the whole market was green as an average, so we could expect that some drops fell on Tesla too (watch out of the low volume). Is this an uptrend? In the...

Madrid Wizard

The SPY has been inside a consolidating range between 204 and 212 for the last few weeks.

Madrid Wizard

Tesla has to attract fresh investors. and 238 is the level where it has to happen if they want to break above the newly formed downtrend leg. The price could be bouncing between 238 and 265, but beware of the gap formed after the ER day at 254, this will be a resistance going to the upside. If new capitals don't enter Tesla then the current capitals will start...

Madrid Wizard

The Shanghai index is showing support at the 3870 level, with a double bottom in the Daily and support in the Weekly. However the red signs are flashing. Technically we can expect a rebound to 4224 and if strong enough to 4700. Since we're still in negative territory and the close in the weekly is below the 34 EMA, this could act as resistance and after the...

Madrid Wizard

Heading into earnings we can expect anything from TSLA. We don't expect profit, neither Elon Musk who declared Tesla would be profitable by 2020. So whatever the number is, either if this exceeds or not expectations what it really matters is how close to the 2020 vision Tesla is. If this is in line with that future vision or not. We have reached levels close...