9/12/23 Tesla’s Trillions


On Monday, markets opened the week on a positive note.

Charts from Finviz

The indexes all closed the day higher…

  • Dow Jones +0.3%
  • Nasdaq +1.1% 
  • S&P 500 +0.7%
  • Russell 2000 +0.2%

Sector Round Up

The rally was broad. 10 of the 11 sectors posted gains.

At the top…

  • Consumer Discretionary (XLY) +2.7%
  • Communications (XLC) +1.5%
  • Consumer Staples (XLP) +0.9%

The lone loser…

  • Energy (XLE) -1.3%

Tesla Takes Off

Shares of Tesla (TSLA^) soared more than 10% on Monday after Morgan Stanley (MS) upgraded their target from $250 to $400 per share.

Image from Redbubble
  • Supercomputer “Dojo” could add half a trillion in market cap to the tech giant, according to analysts
  • Dojo could bring self-driving taxis to the mainstream
  • The $400 price target is the highest target on Wall Street
  • Monday’s surge added about $80 in market cap


The S&P 500 looks very strong.

SPY Daily Candle – Chart by thinkorswim

Monday’s buying capped a second day of gains and the second day with a higher high after bouncing off of local support.

Support and resistance are reliable indicators in bull markets only.

It’s a bull market, you know.

Your latest readout…


Tomorrow, we’ll start getting some new inflation numbers.

The latest FOMC meeting convenes one week from today.


*Low Float
^Open Position

*GCT on watch
PFIE support at $2.60, resistance at $3
GIII support at $22
REKR support at $3.50, resistance at $4
ESTE support at $20
MAPS support at $1.50
TNGX support at $8
TIGR support at $5, resistance at $5.50

Secondary watchlist—float 100+ million

TSHA support at $3.50
^IOT support at $30
^IONQ resistance at $20
BUR support at $14
SNDL support at $2

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