[$COMP] update

In the backlink I was looking for a pullback which did not happen.   In fact, just the opposite happened, the herd leaped over the resistance with a gap up.  So we are literally in panic buying mode on the COMPX.   This kind of gidy "can't lose" stockphoria is what major tops are historically made of.

Once the gap occurred, of course, the prior model was bust.  Yeah, you had to eat the gap but sometimes even the most disciplined poker players lose their ante.  My best count at this point is as shown below.   In other words, the gap was 3 of 5, possibly of A.  So I do expect a pullback of some degree next week but don't be surprised if the buyers step back in after an a-b-c pullback to just red 4.




Alternatively the count could appear per below.


The model below is now what several pretty good wave counters are looking for - an ending diagonal (again).  Well, this is now past mid channel so I would be looking for a pull back to about mid channel as shown below below.  This is the same pullback as the zoom in above.


The DJIA didn't do much today - it did not confirm the google rally.  Also, as reported earlier, even Intel did not rally with $COMPX and the shows serious underlying weakness.