It's Goin' Down

In the last 30 minutes or so of trading today, there was a sharp volume increase and a downward movement of prices.

This week, more often than not, when the volume oscillator pushed upward sharply from below 0, prices fell. The last 30 minutes of trading today were no exception.

What does this indicate?

Smart money has been heavily bearish on TSLA recently.

There have been both support and resistance at the $997 and $1021 price levels since March 23rd.

I would not even be surprised if it gapped down to open Monday around $997.

Is it just TSLA?
Is it the whole QQQ?
Is it the entire Nasdaq...is it the entire market?

Or is it just an illusion...

Let me know what you think!

Do your own due diligence. Nothing above constitutes advice.

Kommentera:

Today opened in the 970 range which was well beyond how far I thought it was going to gap down. Now that we're in this zone, are we going to channel out, rebound or continue taking profits?

Kommentera:

Call it what you like, but beyond a general downturn in the markets overall, on April 9th we were at $1025.61. Here we are one month later at $734.00. Thats -28.4%!

I should have remained in the trade but the theta and the premiums on this one had me exit.

"YOU LACK DISCIPLINE!"
-Arnold Schwarzenegger in Kindergarten Cop

Let's see where this goes!