Technical analysis of TSLA and SPY with specific trade setups. TSLA shows bullish bias above $256.50 with targets to $275.40, bearish scenario below $253. SPY bullish trigger above $573 with targets to $582.39, bearish break below $569.45 opens downside to $549.
Chapters
Good morning, traders. It's Monday, March 10th, 5:47 a.m. Okay, so the market's been a little melty, and we've got two stocks for you today: Tesla and the Spy. So Tesla here, we're below more prints, 1.9 million, 283.78. We had increasing volume yesterday, a little bit of a hammer, but we're below the four. And the 8. And you can see today we've pre-market, we've opened on this 4 EMA and we're pulling back. So we have a nice pocket down here on the downside, and then we have to get above really $286 to go higher on the daily. The ATR here is about 18.50, so Tesla's a little volatile as we all know. Let's go ahead and look at the 5-minute. So here I've got us, we're bullish above $256.50. Ah, it's starting, it's coming up to my My entry point. This tends to be moving a little bit. Target 257.67, 258.40, 259.82, 261.25. And then this 261.62 is a newer print, 300,000. 264, 265.50, 266.95, 269, 270, 271.21. So we're just tagging these resistances here. From there, and then $275.40, and then that gets us all the way up to the pop here, and that actually gets us, um, about the ATR. On the downside, we're bearish below $253 with a target of $250, $248, $246.41, all the way down here. It's a better trade on the downside. There's a massive pocket here down to $244. 236, 240, 250, which is a $2.50 level down here. Yeah. 240. And then I've got a $10 gap down here to 230. There's a 2 million print down here at 229.74 and an S3 at 228.84. So this to me would be end of the road for the day, but who knows? We've got it mapped out on both sides. All right, next up is the SPY, and SPY is looking similar to Tesla here. We had increasing volume pushing off the 4 on the way down, and so we've got, uh, targets down here at 561, which is another, another print. And then if we get above this 8 EMA and get up to like, say, 586, 580, 586. Now the ATR on the SPY keeps going up Because it's been so volatile, the ATR is $8.81. Usually it's around— when everything's normal, it's usually about, you know, $4 or something. So double the volatility, I would think. Let's go ahead and look at the 5-minute. And here we're bullish above 573. We've got to get above this mess, this pivot, this blue line. 573, we'll get up there. Target 573.76, which is this cam, then 574.84, 575. $576. $577 is a, um, is a cam here. $578.08, $579.15, $580.33 there, and then $582.39. And, uh, that gets us almost $10 there on the upside. We're bearish below $569.45 here. And then so if we break below that, we've got a pocket here To 569, 568.57, 568, 566, 563.95, 562.50, 561.32, which is a 10.1 million print, and it's S2, 561. Here, that gives us a $10, uh, move. And, but if we don't hold that, there's a huge pocket. All the way down to 549. So just so that you're aware, so what we're looking for is if these— if this continues, you get a trend like this where they're widening, increasing volume, or in the 8th down here, then, you know, that's, that's your, that's your trade. We stay in the trade. So, okay, there's your 2 trade setups. Happy trading today, everyone. Please like and subscribe, leave some comments in the comment section below, and we'll see you after lunch to see how we did. Happy trading, everyone.
