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Wednesday, August 26, 2026

SPX and COMPQ: Hawaiian Electric Secretly Controlling the Market?


Day 11 (base camp):  Three days now since Jon ventured out to examine the downed power line; he still has not returned.  The cats have begun cannibalizing the neighbors.  This morning, I caught my wife attempting to (in her words) "watch the news" on a well-polished spoon.  Hawaiian Electric is now actively refusing our phone calls.  I think I've lost feeling in my right leg.  On the plus side, our power consumption is the lowest it's ever been:



As we can see from the recently-recovered diary entry above, things are still pretty wild in Hawaii... but I'm going to push ahead with the update anyway.  Interesting that SPX ran out of power basically the same time I did:



It's now getting into an area where we can count roughly five waves down (not entirely clear whether one more small wave down is still needed).  

COMPQ is in a similar position -- near term, anyway:



In conclusion, given that the decline began about the same time our power went out, maybe if the market starts rallying again, Hawaiian Electric will finally decide to restore our power (ha).  Market-wise, we're now getting into the zone where we'd expect a standard c-wave decline to consider bottoming soon.  Trade safe.

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