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Good Thursday Morning, MPTraders! January 8, 2026-- Pre-Market Update: The Elephant in the Room this AM is Friday!Why? Because tomorrow morning, the consequential December Jobs Report will be released at 8:30 AM ET, and will put the health of the labor market into focus, as well as forthcoming Fed policy.In addition, during tomorrow's session-- or just after the close-- the SCOTUS is expected to render opinions on several cases, one of which could be the legality of the Trump Administration's Tariff Policy...
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.
Today’s action really has not moved the needle much in terms of the analysis. The only real addition that I can make is to tighten the support up a bit. With the drop today, I will now use today’s low as the smaller degree support. So, as long as the market remains over the low struck in the overnight ES session, we can be looking higher over the coming week or two.
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