Amidst all the carnage in the tech sector yesterday, one observation bears repeating: the charts were quite accurate when, on December 26 [see: Update on COMP], we noted that COMP had reached important overhead resistance.
Even though COMP hasn’t broken free from a very bearish chart pattern, SPX retreated only to exactly where we expected – a textbook backtest of the channel it broke out of.
continued for members…
Sorry, this content is for members only.Click here to get access.
Already a member? Login below… |