Keeping an eye on $COMP after today's push
It's been quite a run for $COMP today, hitting 12.99 at one point and really stretching up towards that 13.185 daily high. The volume's decent, indicating some conviction, but I'm not entirely convinced we're out of the woods just yet. That 13.185 level feels like a crucial psychological hurdle that we tested but couldn't quite clear decisively. If we see a solid close above that mark and some follow-through in tomorrow's session, then maybe we can talk about a more sustained move. However, a failure to hold above, say, 12.80 tomorrow could easily see us retracing a good portion of today's gains. The risk here, for me, is if we bounce off 13.185 and immediately dump back below 12.50. That would suggest this was more of a relief rally than a true trend reversal, leaving the bulls holding the bag, as it were. Always humbling how quickly these things can turn.
Ah, the ol' 'almost there but not quite' dance. It's like watching a toddler try to reach the cookie jar – admirable effort, but the height advantage is real. I'm with you on the skepticism; 13.185 might as well be the moon until it's firmly in the rearview mirror.