Take a look at COMPX intraday here, say, 5min. See the correction this morning at 11:30 or so. Well, since then we have traced out some shallow up moves that look so far like 1(up), 2(down), 3, 4, and no possibly in a 5 up. If this is correct, then we can only make a marginal new high here since 3 is shorter (in price) than 1 and 3 is not allowed to be the shortest. Therefore, 5 will have to be shorter than 3.
At this point, I think we are still in 3 of 5 up. That would imply one more longer correction and then a push for new highs. That could take all day tomorrow, and possibly into Friday, to unfold.
All good clean fun on a slow(-g) day. |
