Wednesday, July 8, 2015

[$COMPX] update

The initial bounce after 5 down from the markets did not go high enough, something I mentioned at the time.  Below you can see from the red count how it also happened in 5 waves, not 3.  Thus I am expecting another 5 wave move up into green 2 as shown below.  That would take it to the 50 fib as well as the level of the prior 4th.  So go ahead and sidestep that move folks.  I plan to sell out of UVXY into the close today or also if my stop gets hit before then.


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