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)
the combination of bear market plus lower volatility imo means we should no be looking for spikes to the upside, we should be looking for spikes to the downside. that's what will give us our shorting opportunities.
but hey, you're talking to a guy who doesn't even use the stuff, so wtfdik? -g-
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