Paul, as I commented on MDD...isn't this week "fish-or-cut bait"?
We are "only" 50 pts or so below the downward sloping (pretty major) upper channel line from September..obviously, if we break above that (and hold) we are back out of the downward channel, and some major upside (3000?) is certainly not-out-of-the-question. Given that weirdo Thursday/Friday..."yes, we do/no, we don't" action (highly likely due to options ex)...well, I think if we break the channel resistance to the upside, we will not fall back thru it anytime soon....(I just can't see us pulling 4 pivot reversals within a week)..
So, 50 pts. or so on the upside signal intermediate up, no?
Conversely, we are ever-so-close to 90 COMPX LOG CHART at 2400 or so..(some are saying 2380 something...I think I even heard a 2360something...let's go with that to be conservative)....
So, 2475 or so break on upside, 2360 or so break on downside....that is really narrow Paul....I can't believe we won't resolve that one way or the other this week! And, by extension, define (in broad terms) the next few weeks to boot.....
OK, pick me apart <G> |
