• Loading stock data...

Thank You TSLA: New Bull or Is It Still A Bear Mkt.?

June 9, 2023
FullLogo 1 copy 2

SPY was up .06% and we are still in this trading range between $426-$430. Spy if flagging out.It looks like a bull flag. Anytime you get a bull flag the chances are the chart bis telling youLook out for a major break out and go to the next leg higher. You should wait for the confirmation Break-out Is at $430. So on the daily chart you are staying bullish above $426 and if we break $426 then look for the 

gap  at $423. If we get the break out above $430, that is an extremely bullish break out which mean we are likely going to $440 and higher.
The Nasdaq 100 Triple Q’S WERE UP 1.24% and agin we are back over the 5 EMA with the bull trend. And we 

are still in the bear cave between $350 and $360. Just because we are ib the bear cave does not mean we can’t go higher, theres still a chance we reach the top the range at $360 however watch that resistance on the way there at the previous daily high at $355. Critical resistance in the triple Q’s will be $355 and $360 and critical support is right around $347-$348. If we break that support than look for a run all the way back down towards $337 and then the gap fill at $333.
The Dow Jones’s was up .49% today and we did break out to another closing high above $338 and we are bullish above 

$336 with upside resistance at $341 and $346. If we break support at $336 look for a retest of the rising 20 Day Moving Average at roughly $334
The Russel 2000 was down .37% and the Russel is really just cooling down at the strong resistance zone between $187-$188 

because we were outside the upper Bollinger Band and we ran too far too fast. We did get the bull breakout above $185 whichIs now going to be support and if we break below $185 we could go as low as $178-$179 and as long as we hold above that support we are still making Higher lows and Higher highs in the short term.
TSLA: Was an absolute animal again today, after going up on Wednesday when most of big tech got hit TSLA 

Is in the midst of a short squeeze and is now a big part of the AI hype. They have so much data and make no mistakeThey have very valuable data. We were up 4.58% today and TSLA has the Next Bull breakout out $240 and I still 

think we get to $260 short term. 

I wrote this last night and TSLA is up another 5.5% today and we did take profits in the premarketOf $73,875.40 or 28% in Eight Days.Cheers,

G. Allan Collins



Leave the first comment