TSLA Weekly Harmonic Elliott Wave and Hurst's Cyclic Analysis
Review:
Let's review the key points of the previous update (Nov. 21st):
Update:
We are on track with our expectations.
Analysis of the Structure:
We are still in the development of wave (II) as a flat correction. On Monday early morning, I expect a minor move higher to complete wave 4 of c of (II), then the final bearish move to the downside to complete wave (II) on Tuesday. The next phase is a very strong bullish move as wave (III) of a of 3.
Analysis of the Cycles:
We are expecting the 40D cycle trough and I think it will happen on December 4th or 5th (more likely). No change is needed to my previous cycle statements, except adding a few points:
Let's review the key points of the previous update (Nov. 21st):
- Wave 2 has already ended.
- We are in wave (II) of a of 3.
- October 31st was a 40W cycle trough and we are in the second 40W cycle of the current 80W cycle.
- 40D trough on December 4th 2023.
- 80D FLD will be crossed tomorrow and can generate a target of 285.
- 80D trough on January 6th 2024.
- 20W trough in the first 2 weeks of March.
- 40W trough in June-July 2024.
Update:
We are on track with our expectations.
Analysis of the Structure:
We are still in the development of wave (II) as a flat correction. On Monday early morning, I expect a minor move higher to complete wave 4 of c of (II), then the final bearish move to the downside to complete wave (II) on Tuesday. The next phase is a very strong bullish move as wave (III) of a of 3.
Analysis of the Cycles:
We are expecting the 40D cycle trough and I think it will happen on December 4th or 5th (more likely). No change is needed to my previous cycle statements, except adding a few points:
- We got the actual 80D cycle FLD cross to the upside, which generated a target of 282 (underlying trend is up, so we expect an overshot).
- 20W cycle FLD was crossed to the upside, generating a target of 296.
- 40W cycle FLD to be crossed soon (next week).
