In today’s briefing:
- Tesla Q3 Deliveries Are Looking Ugly
- EQD | SPX WEEKLY/MONTHLY OVERSOLD: Global Bounce Upcoming
Tesla Q3 Deliveries Are Looking Ugly
- Market consensus estimates for Q3 deliveries have been falling so hard and fast they now approach my formerly well below market estimate.
- Sentiment, however, remains largely optimistic as analysts attribute the weakness to factory shutdowns for “updates”. We’ll see.
- Tesla is expected to report results before the market opens on Monday.
EQD | SPX WEEKLY/MONTHLY OVERSOLD: Global Bounce Upcoming
- The S&P 500 INDEX is OVERSOLD, WEEKLY and MONTHLY. There will be a LONG reversal soon, and it should be a MONTHLY reversal (at least 1 month uptrending).
- The WEEKLY model is telling us the market is oversold, but there is a possibility of having 1-2 more weeks down, that should be the end of the correction.
- Go LONG Global Equities and pay attention to the MONTHLY (4203) and WEEKLY (4077) supports: if the index reaches these supports it will be very oversold.
💡 Before it’s here, it’s on Smartkarma
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