Today’s commentary proffered some potentially spectacular outcomes for Tesla-mania, but for those looking for the next day-trading opportunity in the stock, the 119.52 target shown should be used as a lodestone.  ‘Camouflage’ cover could be difficult to find in a rally so far advanced, but if the stock is going to hit 119.52 today, your best bet might be to monitor Wednesday’s opening on the one-minute chart for the first ABC pattern that meets our simple rules.  Click here if you’re interested in learning those rules. ________ UPDATE (June 4): The hourly chart has swung to bearish, and although this has not invalidated the 119.52 rally target, it will shift our focus to the corrective pattern now developing (see inset, a fresh chart).  If the stock is bound significantly higher we should see this pattern reverse — possibly tradeably — from around its ‘p’ midpoint support (which is as yet undetermined). _______ UPDATE (June 6, 2:25 a.m. EDT): Yesterday’s bull-trap rally off a gap-down opening aborted the downtrend, although the move would need to hit 104.27 to generate a bullish impulse leg on the hourly chart. The fact that the rebound came from 3 cents above the 88.42 midpoint support (see inset, a fresh chart) is an additional factor that is short-term bullish.