TSLA Follow-up: Tuesday 18 August 2020

· In early-August, TSLA 1950 and 1315/1408 were offered as a medium-term target and an accumulation zone respectively. The low was 1365 on 11 August today’s high is 1923…that is a freakishly fast 40%…

· Taking some profits here as this is a high-risk zone. An extension can target 2050/2100 but TSLA is ripe for a short-term correction here circa 1400/1700.

· Incidentally, the short-term SPX cycle provides a headwind from 21 August until month-end…