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Zdjęcie autoraJarosław Jamka

Risk-off Update

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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