Tuesday, June 9, 2015

[$COMPX] update

I don't see any fear yet.  Lots of people are talking about breakdown but no real fear.  In any case, the fear will come when the herd is least vigilant, least expecting it.  For all I know they could drag it out into the more bearish months of Aug, Sept or Oct.

Today's spike down in $COMPX was quickly retraced back up to resistance putting in a new support line shown in red.  As you can see in blue, these spikes often mean reversal.  A gap down soon would change this model but my best guess right now is that it's most likely to re-test the upper rail at this point.


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