If the bloom is off the rose of the Mag Seven, it began with Tesla (TSLA), which has seen its shares take a drubbing centered in poor execution.

The stock has been waylaid after posting results in the last four quarters.

Management missed the street in back-to-back quarters and earnings consensus has been in freefall.

The stock is higher today, but Elon Musk is really going to have to lay it on thick on the call.

Meanwhile, the NASDAQ 100 is looking oversold – at least on a short-term basis.

We are loving the action right now, but it still feels tepid at best.