Tuesday, September 22, 2020

Leg Down Yet To Complete At Target Zone

Still no acceleration down at a higher degree so window is open for deep retrace whenever the low hits [A-B-C?] or more? VXX low has held since 8/26/20 but it was recently challenged within just a few pennies so looks like a significant support zone short-term. However, since the 'sweet spot' has not yet been hit (market declines at a larger degree) VXX may well need to hit something slightly lower or it could continue moving up over second resistance which is at 27.78, retrace back towards it's lows and then take-off. Patience is required right now. All alignments look like they're steadily moving in for the eventual kill.

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