TSLA Record High Update

This may be my last posting regarding Tesla as it may delist and go private. SpaceX is already private and TSLA may soon join SpaceX. The short players have been getting burned as close to 31% of the entire TSLA float has been shorted. Investopedia is an excellent site to get information about any market meanings and technical indicators.

They do a big spread about TSLA short players and how they get squeezed. Still TSLA is also approaching a Cycle degree wave 3 peak, but we may never find out if we can’t get private price charts on TSLA. Many companies have delisted in the past so it’s not that uncommon.

The Gold/Tsla ratio is a bit better at 3.4:1, down from an extreme of 1.13:1. I’m sure TSLA stock will not hold up, and sooner or later it will take out my 4th wave support at the $140 price level.

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UUP: US Dollar ETF Review

This is the ETF that tracks the US dollar and it will give us a different wave count as the 2014 low shows. UUP made another spike to the upside today which is far from finished as the US dollar is in a bull market of  Grand Supercycle degree or even Submillennium degree. A bull market in the US dollar is deflationary and will continue on its bullish path for a long time. I’m working 5 waves up in Primary degree as the 2008 bottom was one of my 4th wave bottoms in Cycle degree. I’m still very positive that the US dollar has an expanded flat with the 2018 bottom being wave 4 in Intermdeate degree. Techically this UUP ETF should break to new record highs until this fall, and then crash going into the first half of 2019. This Primary degree wave 4 crash will send the price of gold soaring, even though it may only last 5-8 months.

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