Update on JRI's preferred scenario (while we wait for the experts to make up their mind-g):
- 2002 COMPX (this morning) was end of 5 of 3 of 1 (of a larger, 5 wave impulse down)
- We are currently in a 4 of 1, which should be a-b-c up...we are likely now in "a" (edit: as of 1 PM, maybe b has started)
- Am expecting 4 to end sometime today, and the 5 of 1 (down) to start....4 will likely top out around 2025-2030....first touch in impending upward-sloping wedge..
-5 of 1 (of 5)-
Am anticipating it'll take COMPX to around 1973 Monday....Monday is a turn date, so it would be a good place for corrective 2 (up) to start....1973 will be starting point for lower-line of wedge that I think will be building next week...
- The "2"-
Am anticipating that the 2 will take several days (likely a flat)...the middle of next week (Tues./Wed./Thurs)......"a" top should be around 2030-2040, b low around 2010, and c top around 2050-2060, or close to the top of today's (important) gap down....
You should be able to draw a nice rising wedge (next week) from the lows/highs listed here..from the top of the 4 (of 1 of 5)today to the top of the 2 (of 5) next week (upper trend line), and from the bottom of the 5 (of 1 of 5)/start of 2 of 5, touching bottom of b/start of c of (2 of 5)
The 3 of 5 (which could start end of next week, or early Tuesday) will bring a break of this week-long wedge, and w/some heavy down, w/heavy volume......right at important turn window of July 17th-July 21th....I am earlier rather than later in that range...
OK, that's my framework.....free for all to beat up....until the experts come along... |
