Hi Shoppers,

After making a triple top at $314, Tesla (Ticker: TSLA) has been in a major downtrend.

It is down $97.30 – or 31% – since Sept. 21

Going back to November 2021, it is down 48%.

Where is the support?

Everyone will be watching that previous low, right around $108, for the next support level.

I will be watching for that candle signaling the change trend.

Trade Review

That ProShares UltraPro Short QQQ 3x (TIcker: SQQQ) call spread, the Oct14 60/67, is up around $1 since Monday. Could be a doji candle that formed yesterday, meaning the rally may be over.

Peabody Energy (Ticker: BTU) started out with a head fake, trading higher early Monday morning. It has since traded down about a dollar. The oil stocks are showing mixed messages and crude futures are lower but sitting at some support. The stocks still look like they are rolling over and going to trade lower, to me.

Thanks for Reading … See You Next Tuesday.

Licia Leslie