COMCAST (CMCSA): broken below major 4 and long term trendline

COMCAST (CMCSA) has broken decisively (opened and closed) below the long term trend line that has held price in check since October 2012. By trading below Major 4 of Primary V it confirms the Primary V top as it means Major 5 has ended (in uptrends waves of the same degree never trade below each other; e.g. wave 5>3>1, wave 4>1, wave 4>2.) This is also the first time since November 2012 (!) the trendline has been broken.

(click to enlarge)
CMCSA update 10022014

In addition, but not shown here, today price traded below the 200d SMA. This neither happened since December 2012. Price did manage to close above it, but all this simple shows how dire things have become. The only hope for he bulls is that what I have labeled as Primary V is only Major 1 of primary V and today ended Major 2… Trade aboe the V high will confirm this alternative, trade below the April low will all but confirm the V top.


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