$Tesla Motors(TSLA)$ is trading above the 200 sma, as long as it holds as support the bulls are in control. There is strong resistance at $440 I believe tsla will be sandwiched between the 50 and 200 for some time. An iron condor is the best trade for such a situation, it's a neutral trade that captures premium while the stock trades sideways.
$Tesla Motors(TSLA)$ tsla was the only mag 7 stock to finish the day green last Friday, that shows relative strength. The Spx has been grinding sideways for the past few weeks but the QQQ made a lower low and a lower high. The mag7 etf MAGS has broken down from a distribution pattern. The mag7 holds the highest weight in the Spx index, so them showing weakness is not a good sign. February is the second weakest month of the year, I believe the market will continue sideways, so I will continue to sell covered calls on tsla stock until the end of February.