In our last update on COMP [see: Oct 28 Update] we pointed to 5124 as the next likely turning point.Sure enough, 4 sessions later COMP reached 5124 and…stopped. Thanks to DX breaking out, it spent the next week criss-crossing 5124. Finally, on Nov 9, it began a slide down to 4908 — a 4.2% drop.
In an unrigged market, there would have been more downside. But, as we’ve seen countless times, COMP holds a special place in the hearts of market riggers. Well, at least where their hearts would be if — you know — they had them.
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