We are in the fourth week of correction, will the fourth weekly close be positive?
After two days of this week, the S&P500 is already +2.08% (and contracts are now another 0.23% up, and Tesla itself is +13% in pre-market trading).
The fourth week in the previous correction (August-October 2023) was also positive... see Figure 1.
Sometimes the history rhymes perfectly... even if only for a moment 😊
Figure 2 shows the same indices but the percentage change is calculated from S&P500’s ATH on March 28, 2024.
BTW, Tesla is now +13% in the pre-market, but interesting Tesla had 7 consecutive days of decline before the earnings release... so +13% is deserved... anyway
Tesla, closing price:
Date | Close | Daily change |
12-Apr-2024 | $ 171.05 | -2.03% |
15-Apr-2024 | $ 161.48 | -5.59% |
16-Apr-2024 | $ 157.11 | -2.71% |
17-Apr-2024 | $ 155.45 | -1.06% |
18-Apr-2024 | $ 149.93 | -3.55% |
19-Apr-2024 | $ 147.01 | -1.95% |
22-Apr-2024 | $ 142.05 | -3.37% |
23-Apr-2024 | $ 144.68 | 1.85% |
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