[$COMPX] update

In the backlink I suspected more bullishness going into the holiday weekend but provided the caveat that "A gap down soon would change this model".  Per below, consider the model changed.  Today's move down broke the lower support rail.  This now counts as a rising wedge whose 5th wave ended mid channel.  If $COMPX cannot retake that lower line then this could get really ugly really quickly.  While the DJIA is only down 190 points as I type this,  UVXY is up over 16%.  Now that is the beginning of fear folks. 

Don't chase UVXY.  Buy the dips not the peaks.  The train hasn't left the station yet!  The breakdown is not confirmed by any means even though I think it soon will be.  That is why I posted this chart before today's sell off was even hinted at.

The real confirmation of a serious change from bull to bear comes when we see 500 points or more lost from the DJIA in a single trading session.