Today's Animal Spirits is brought to you by Y charts for the first time since May 2017

Tesla's market cap is lower than both Ford and General Motors and it is in a 40%

drawdown. We'll have these charts in the show notes, stick around.

Welcome to Animal Spirits, the podcast that takes a completely different look at markets and investing,

hosted by Michael Bannick and Ben Carlson, two guys who study the markets as a passion and invest for all the right reasons.

Michael Batnik and Ben Carlson work for Rit Holt's wealth management.

All opinions

by Michael and Ben or any podcast guests are solely their own opinions and do not

reflect the opinion of Ritholt's wealth management. This podcast is for

informational purposes only and should not be relied upon for investment decisions.

Clients of RIT holds wealth management may maintain positions in the securities discussed in this

podcast.

All right Ben, I'm about to take you to the School of technical analysis do you have a ticket you

ready I guess I have no choice let's do it okay so this chart we're gonna put in the

show notes there has been areas in the past call it say 250 to 290 where sellers showed up from

2014 all the way through say 2016 and then once that level was broached or breached, I guess either or both are wrong, I'm not sure,

that former resistance turned it into support.

That's where buyers showed up.

Now, this could all be a coincidence I could be finding patterns

where none exist but last week prices broke below that level of support and

that theoretically should matter almost of course level of

support and that theoretically should matter almost of course it's a false breakdown and

...