MDA - Market Direction Analysis

[hk2]

COMPX Daily-There is a slight bearish wedge forming on the COMPX, but the upper RL is rather shallow, so it may effectively be a bullish ascending triangle (min target 1460). But there are other bearish signs. We have a negative divergence between the higher high on the COMPX and the lower highs on the PPO & Stochastic.

Additionally, when the COMPX put in a higher high, the NDX failed to do the same. (second chart) I believe the NDX leads the COMPX up & down, so I this as a bearish development.

Watch for a break of yesterday's low (1376) or Monday's high (1430)

COMPX Daily


NDX Daily