GLD at top of declining channel

The decline from 137.5 peak in August is best counted as a corrective Double Zig-Zag (abc-x-abc) with the last declining "c" leg yet to unfold. The 

We are now at the top of the declining channel. If the top rail acts as a resistance we should see an impulsive decline. Support come in around 120 from the longer-term bear flag.

Tesla Downgrade

Appears to be the end of wave (3) and a good time to short this bubble stock!