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Tesla Inc. (NASDAQ)
And my favourite, almost dear to my heart…Owner of everything ( except a decent stock) ..
It dropped, it bounced a little and now….sideways to nowhere…similar to the Mars Voyage…
I am really keen to hear some new baloney story coming from its headquarters and how they plan to conquer the world.
GME – GameStop Corp (NYSE)
For wider public this one is better known as JOD ( Joke of the day) and for those that were so hot on buying it on Internet Wise guys suggestions goes under GME Aka Margin Killer.
Lots of hopes and dreams got crushed with this one and net is filled with crazed calls for it’s rising …seems to me that it is way more popular to follow some loony then to listen to the reason…
I got almost hate mail , and expect nothing less than dead threats after posting this on X , FB and so on…
This is a clear “dead cat bounce” ( couldn’t even reach the first Fibo ) case and we should see break of support at 18.30 and subsequent fall through 17.40 …and all that wouldn’t be a big deal if the smart asses weren’t buying it at 50 and above…
And not to forget one of the leaders of the Lemmings tribe – Who’s crying now mate
USDJPY DAILY CHART – ENTERING THE NERVOUS ZONE
As I noted earlier, 157.50=00 is the BoJ/MoF’a nervous zone with only the 160.16 high left on charts after that level.
With higher US yields driving the dollar higher, all the Japanese officials can do is threaten as any intervention, unless it was massive and sustained, would likely be met with buyers below the market.
GBPUSD 4 HOUR CHART – A retracement or more?-
The failure to test 1.28 and a generally firmer dollar has GBPUSD retracing, breaking a minor 4-hour trendline.
Key support levels are below 1.27, most important for me is 1.2674.
On the upside, back above 1.2725, at a minimum, would be needed to slow the risk but only back aboe 1.2750 would neutralize it.
US500 4 HOUR CHART – Death wish or not?
There are times when trying to pick a top in US stocks is like having a death wish and it remains to be seen if this is one of the exceptions.
Looking across different time frames, the 5194 level (your chart level may differ but the red line should be in a similar spot) shows up, suggesting the 5200 area would be a target if this retracement picks up steam.
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