COMP has been one of those nonsensical indices that — just when you thought it was finished — always found a way to make new highs. That was, of course, until August rolled around.
It broke down through every element of support we discussed in our last update: the rising wedge, the red TL, the 2007 high, and even the .886. Most importantly, the red channel which has guided its incessant rise since 2009 finally gave up the ghost.
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