Hi YXI friends,

Please review today’s chart analysis on TSLA, ETH, SLV, MARA, and NFLX.

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Table of Contents

S&P 500 (SPY ETF)

SPY Cycles

SPY is still in the incline phase of its price cycles, which could peak in November.

1) TSLA

Tesla’s structure still allows room for a final dip in wave (iv), especially with earnings volatility in play.

But the setup looks constructive for the final wave higher post earnings. To me, the risk-reward skews positively for dip-buying if the stock gaps down tomorrow.

2) ETH

Ethereum is likely in the final leg of its wave iv correction, which had begun back in August.

While ETH’s October 10 crash had sufficient length for a wave (c) of iv low, the risk is biased towards retesting the green target zone around $3400 to conclude wave (c) more definitively.

Below that, there is a large volume profile at $3300 and the 200-day MA at $3200 for significant support. I don’t see ETH breaching these levels in this pullback.

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3) SLV

SLV is in a wave 4 correction with GLD. $40-42 appears to be the likely termination zone for wave 4, with support from the 50-day MA.

4) MARA

MARA is at a crossroads between the upper trendline resistance of the 2024-2025 downward channel and the short-term upward channel since April this year.

The overall structure is little changed since our last update, with a wave (iii) target above $40. However, those who are more patient could wait for MARA to retest the lower channel support of the short-term upward channel first.

5) NFLX

NFLX has fallen by 10% after earnings, now testing the 200-day MA. This appears to be part of the wave © of 4, which I called out as early as July on X. It has been a painful correction while the rest of the market went higher.

Wave c could terminate around the $1050 region.

Referals

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