heavy resistance COMPX 2161 - 2164

I can count 5 waves down from the 2186 high in the COMPX:

1...2164
2...2172
3...2143
4...2161
5...2140

The rally late yesterday/today brings us right into the previous wave 4, and about a 50% retracement of the entire decline.

Remember we had a triple top at 2186 (the high), and then
Six attempts to break thru 2172 (wave 2) in three hours.

I see 4 attempts already to break thru 2162, between 10:15 and 10:45, this morning. It's FED day so it should be interesting.

Tony

 

lol.

 

hope you were short

 

Tony,

A simple A-B-C measured-move off of the 9/12 high in the COMPX would target 2118-ish.

 

Mike,

Exactly correct!

 

Hey mike,

2116 = ur 2118-ish
But it's 5 down on the minute chart, more to come.