COMPX
descended lower after the upgap, touched the upper band of the fork, and rebounded to close slightly below the lower trend line of the broken bear flag !!!
if i have to guess, i think compx maybe gapping up to test the broken trend line of the flag @1970+/-, but will be trending lower into the fomc decision tomorrow; due strictly to the intraday negative divergence in its MACD and RSI !!!! thus, those of you, who believe that fed will ease another 75-1.0, it's not too late to get on the next choo choo !!! on the other hand, those of you, who believe that the fed will ease a scant 25 or 50, u'll still have time to reconsider your long/short position !!! it's not going nowhere fast tomorrow morning <GGG> !!! and since i dont know what the heck they're goin to do .. i covered my short this aft, went long, but went flat near the end of session; rather be safe than sorry <GGG> !!!!
here're the updated retracements since compx did make an intraday lower low today :
- the upper trend line of the long term down trending fork should be trading between 1839-1814 tomorrow <which coincide with the 176.4% & 200% retrace from the broken bear flag last week> !!
- the lower trend line of the broken bear flag should be trading @1970+/- <again, which coincide with the 38.2% short term retracement> !!
- the 10dma @2034, which is trading in line with the 61.8% intermediate term retrace betw 2309-1867 !!
S/T
- 1990
- 1966
- 1948
- 1929
I/T
- 2155
- 2100
- 2056
- 2011
L/T
- 2422
- 2316
- 2230
- 2144
one last scenario, if compx gaps higher, and trades along the lower trend line of the broken bear flag without being able to break it ... be careful of the s/t intraday bear wedge/flag !!!
just an observation .. and i maybe wrong !!
regards and good luck,
auto
ps. not an advice to buy/sell any securities !! |
