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Good Tuesday Morning, MPTraders! January 13, 2026-- Pre-Market Update:-- JPM Earnings: Mostly a beat (see CNBC analysis below), but considering JPM was trading 65% above its April 2025 low (see my attached 4-Hour Chart), the reaction to the news has been a bit muted (as we discussed late yesterday here). As we speak, JPM is up 0.2%. Technically, as long as key resistance from 332 to its ATH-zone 335-338 remains intact, my pattern setup argues for a bout of corrective weakness that presses the stock into the 290-310 support plateau before renewed, powerful, and sustained buying interest emerges... Last is 324.97...
Tesla is not a stock that rewards traditional thinking for very long.For years, investors have tried to pin TSLA down using familiar tools: valuation multiples, production targets, delivery forecasts, margins, competitive positioning. And while all of those inputs matter at times, Tesla has repeatedly demonstrated something that frustrates both bulls and bears alike — its stock price often moves independently of the neat narratives built around it.That isn’t a flaw in the analysis. It’s a clue.Tesla is one of the clearest modern examples of a stock that trades primarily on crowd behavior. Expectations expand and contract.
With the market just meandering between resistance and support, there really is not a lot I can add to the analysis right now. Support remains at 6900SPX, and resistance is clearly the pivot. My primary is looking higher for now, especially as long as we holding over 6900SPX support. The next target is delineated by the target box for wave iii in the 7100-7127SPX region. Should we reach that target, support will be raised to the 7010-7040SPX region.
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