SRLevels News

what is good guys it's Reggie I wanted to give you guys a very quick technical update based off what I'm seeing right now let me just mention I'm not a financial planner uh looking at the charts uh right now there is a head and shoulders forming on the Spy we fail to hold 421 I was telling you guys to watch for confirmation for either direction and right now the confirmation came in favor of the Bears spy failed to hold 420 we're getting a weakening of the momentum on the macd and there's a clear Head and Shoulders like formation that's developing and it's likely going to take us to these imbalanced zones all the way down here now I'm not giving any Financial advice by the way just wanted to make that very clear uh this is having a big effect on the whole Market QQQ is starting to break down uh 350 was this one I mentioned I told you guys if it failed to hold three five two we'd expect this thing to come all the way down then we had this gap down here it's also forming a similar formation starting to weaken and once again the macd is wide open starting to come closer to where these balance zones happen to be I just wanted to give you guys a quick update about this this will have a big effect on Tesla it failed to hold 200 for the time being uh it is weakening a bit but it is holding not 198 for now watch it very carefully in this Zone this 198 to 200 Zone if 198 fails it has a lot of room to come down to the mid 190s approaching this Gap all the way down to the lower 190s okay so Tesla's still trying to be resilient still trying to hold 198 watch that carefully besides that spy and QQ are looking weaker and this will have a negative effect on Tesla which is making Tesla uh less strong in my opinion and this could even lead to some downside later on for it but we need some confirmation on Tesla gonna watch that 198 for now it's still looking weaker anyways that was a very quick intraday update I'm usually busy throughout the day running my businesses or doing other things from studying uh to working out or once again working on my businesses I took a little bit time off just to record this as quickly as possible let's just see what happens and right now the momentums and indicators are favoring the Bears all right thank you all for listening have a great day don't forget about this to our friends tomorrow with the Weeble link I'll see you guys later on today thank you and peace out