AMZN, DAL, INTC, TSLA updates 08/02

AMZN: Counts best as having completed primary III of Cycle-1. They July candle is ugly with a large upper wig: selling and negative divergence across the board on many TIs and an initial A.I. sell signal.

amzn monthly

The daily chart with all it’s scribbles has also a 5-wave up count as complete, fitting the monthly chart



DAL: Also counts as having completed 5 waves up (major-5) for Cycle-1. Price is now most likely in major-a. The 200d is logical first support. The very bullish case is that major-5 was only intermediate-i of major-5, but I find that less likely at this stage (of the general market). Price is very oversold, hence a bounce from around current levels should be expected. Target: 50d/20d SMA.

dal daily


INTC: I still prefer the Primary I top is in, with now a b-wave underway.  Break over $37.25 and especially $37.75 means major-5 was only intermediate-i of major-5 and price will go much higher. For now it’s rather overbought, like it was at the (red) intermediate-b high. But, all systems are on buy, so we should look higher until they tell differently.



TSLA: up 6% after earnings beat (i.e. less LOSS than expected…) regardless, this will put price most likely in intermediate-iii of major-5 of Primary III, with today’s low being intermediate-ii. Major-5 should ideally top around $400-$428: the 1.764-2.000x Fib-extensions.

TSLA daily