Friday, September 19, 2014
$COMPX update
With the intraday reversal that is happening so far on quad witching day we might be seeing the start of a significant sell off happening. Of course we have yet to see the telltale 5 wave down impulse but the 3rd wave already extended and so I don't see any more upside for [5].
Zooming in to just wave [5] we see 5 clear waves up and the formation of a double top. It is possible that this will turn out to be some big kind of sideways triangle 4th still but below 4500 would be the first real confirmation of a break down in progress.
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