Freep- We won't really know....but the 4 of the 3 has lasted 2 full trading days....it has shown no impulsive signs whatsoever (thus, giving us comfort that this is, indeed, a correction...and that it is not leading to something bigger (up)
2170 should be rock-hard resistance...2200 as well.....
After correctively running the last 2 trading days, I struggle to think the COMPX and SOXX will have enough juice to break these (2170, 2200) targets..
Volume has progressively gone down as we have gone up the last 2 days....
We severely broke the rising wedge on the COMPX earlier this week....that was a hard, hard break.....I can't imagine COMPX overcoming that until 5 waves down complete.....I can't see anyway that we've done 5 waves down......that action Tuesday-Wednesday had 3 written all over it.....By definition, we must have 4'd the last 2 days....
I could be wrong....we could go a bit higher here.....but that break of 2140 qualifies as much as a 3 of a c then anything yet....thus, my call for a 4 of a c here......regardless, this (big) 5 (after this 4 is over) should be strong enough to make me (and us) all forget about exact timing here.....I have been late on moves more than once waiting too long too confirm...I'd rather give up (potentially) 1% up, to big-time participate is what should be multi-% down....
As said, I am holding 1/2 back for any Monday morn, monkey-gap business...
And that's my story, and I'm stickin' with it... |
