Triple Top COMPX 2186?
- Thread starter gharghur2
- Start date
Quote from gharghur2:
But it's only a correction, the bull market continues.
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Think the most likely scenerio is $42-43 area + in 4th quarter, usually strongest quarter in NasdaQQQQ.
However OCT tends to be weakest in NasdaQQQ;
$ 42-43 QQQQ or more may take a hurricane/ wild roller coaster ride before it gets there.
Actually thought $38.8 QQQQ would be tested last week;
we will see.
QQQQ $38.80 last week was quite possible except for expiration.
It's all a matter of time now: if the market can go sideways to down for a couple weeks, it might get oversold enough to put in a bottom. Thus, Q'4 $38.25 might hold creating a flat.
If the selling accelerates, then I think the $38.00, or even $37.50 might be obtainable, creating a zigzag. It's a subdividing wave 2 so either structure would fit. Keeping a close eye on the whole wave.
In either case, I'll be a major buyer of the Q'4 in anticipation of a larger advance than either the 8/04 - 01/05 or the 04/05 - 08/05 rallies. Both of which I feel are foundational wave 1's.
We're seeing the same market unfolding
It's all a matter of time now: if the market can go sideways to down for a couple weeks, it might get oversold enough to put in a bottom. Thus, Q'4 $38.25 might hold creating a flat.
If the selling accelerates, then I think the $38.00, or even $37.50 might be obtainable, creating a zigzag. It's a subdividing wave 2 so either structure would fit. Keeping a close eye on the whole wave.
In either case, I'll be a major buyer of the Q'4 in anticipation of a larger advance than either the 8/04 - 01/05 or the 04/05 - 08/05 rallies. Both of which I feel are foundational wave 1's.
We're seeing the same market unfolding
