Here's a scenario that I like (and works well with the waves I think)..
Today, we complete our 5 of the (impulse) 1 with a break of 2150....could lead to 1st test of 2100...
The rest of the week, we A-B-C up in a corrective 2...likely a flat, for it has to last until Friday..
I like this scenario, for Max Pain on QQQs is supposedly 46....so, we should be close to today's levels on Friday...
also, (after this morning's down)...Tuesday-Friday up allows us to back kiss the breaks that will be happening today on a lot of charts....let's go back and back kiss these broken trend-lines and then really break down..
Also, this would set up the 3 down, starting Friday or early next week......in perfect timing for end of options ex, Heinz's turn date, a confirm of head-and-shoulders pattern and other breakdowns, etc....It makes sense to me that a break of 2100 is going to bring a ton of selling...and will likely happen in the 3 of a 3...
According to the stochastics that I follow, weekly and daily COMPX have now rolled over, so we should be in a lame period for COMPX for the next couple weeks, and I don't see where it gathers the strength now for new highs given all the damage, although am open to arguments....I'm no longer concerned about MSFT decision...sounds like a positive result already priced in... |
