Here's How and Why It's Time to Short Tesla

The ticker is TSLS. There's a lot in play. But with TSLA under its 20-day EMA, it's bigger than the technicals.

Good morning:

Before we begin… has anybody bought Sauvage Eau Forte - Dior - at Macy’s because they saw an advertisement of Johnny Depp playing “Wild Thing” in front of Wolves?

No? I didn’t hallucinate that ad last night…

That’s a real thing…

Okay… just making sure I’m not insane…

Short Tesla

The Tesla Inverse ETF (TSLS) popped 3% above its 20-day simple moving average… and it's now above its 20-day EMA. It’s short now, and it looks like it’s about to revert to its 50-day EMA.

The TSLS is in a good range right now. The upside is the 50-day moving average, which is 13.2% away.

I think that’s coming in the next week…

Buy the Direxion Daily TSLA Bear 1X Shares (TSLS) at the market price.

Set a stop back 1% under the 20-day EMA ($7.90).

Tight stops… higher upside.

Now, let’s get to the market…

Traders Focus

The S&P looks poised to make another run at 6,000 after futures touched 5,997 in pre-market. This is the line in the sand after several failed attempts over the past three weeks. Markets are h…