TheBare: Thanks, it does force me to focus a little more, as I am aware I may influence others and that reason alone is good one for not wanting to be wrong. Of course, no one is 100%...
However, my primary focus is to increase the size of my portfolios...<g> Documenting my analysis is down on the list...
I have been expecting the COMPX’s 5/22 falling wedge and the NYA’s 5/22 falling channel to eventually have breaks above their respective resistance lines.
Per my 7/8 Sunday web site update I expected one more accumulation drop into early August (8/7). However, the bottom put in on 7/11 caused me pause and I posted last week that it placed my expectation in doubt. I stated I believed the 7/11 pivot low may hold serve and I was less confident in that one last drop before the 5/22 falling patterns broke up and out.
However, there was still some factors supporting my original read so I decided to stick to my original read with a close eye on the possibility that the drop into August 7th may not occur, at least not as a lower low.
The COMPX could still make that drop to extend the 4/4 to 5/22 rally retrace, but with the NYA moving above the resistance line of its 5/22 falling channel on Friday followed by a test for support twice yesterday of the resistance line now providing support, then followed by a move up and away from that resistance line today, the prospects of one more accumulation drop that extends the 4/4-5/22 retrace grows less probable. Of course, the COMPX still has a ways to go to engage the resistance line of its 5/22 falling wedge. In order for the COMPX to make that one last plunge my 7/30 (+/- one) projected pivot date will have to work. To day is the last day...<g>
Still holding for one more day!
Regards,
LG
PS: TheBare "what"...<g> |
