TA Today

18April2014

guest commentary

$Compq- 3186 target still in play

But maybe not after tomorrow- see the following 2day 5min chart.

We missed my 3186 target by 3 pts last Friday with a high of 3183. Today we finished an ABC down from 3183 (at 0%) to 3146 (at 50%). If we continue down tomorrow staying below 3146, our target becomes the 3109 area (at 100%). A move below the presumed 3119 wave 4 low cancels the 3186 target. A move above 3146 cancels the 3109 target. We are still below the 09/21/12 3197 top with last Fridays 3183 high a possible intermediate term "B" top.