Tesla has had a great run higher over the past 5-years, as it has stayed within the rising channel above.

Once it broke out of its sideways channel in 2013 near the $30 level, it blasted off, moving almost 10x higher!

Over the past 2-years, it has traded from the top of the channel to the bottom, in a sideways pattern.

Triple support could be giving way at (1) above, which could encourage more selling pressure. If Tesla takes out 5-year rising support, could it impact the NDX 100? Possible!

The rally off the 2002 lows has taken the NDX 100 index back to the same levels it hit in the dot.com highs, before it fell over 80%.

At the same time it was reaching its 2000 levels, it appears to have created a bearish rising wedge, with monthly momentum back at levels reached in 2000 at (1) above.

With 5-year rising support giving way in Tesla and the NDX 100 index, it leaves room for sellers to come forward, which could drive tech stocks a good deal lower!

In August of last year, the NDX hit a low of 3,787, this becomes a critical support level for the index. Important that this level holds!!!