Projection going forward
See Critical Long-Term Review Here
Tuesday, March 31, 2020
Upper Target Hit- Need Follow-Through
Update: 4/1/20 9:25am EST.
An upper price extension alignment did hit today and a rejection from there appears to be underway. As was mentioned, the previous pattern that was compared (A-B) had a similar underlying vector format. It resulted in an attenuated price target that fell short of the projected price zone at the time. Applying that logic to today's action might indicate that the high (ES June cash) 2629.50 could be a top. The 'normal' top flag algorithms are not applied in this type of underlying vector configuration. Other criteria will be used. A follow-through should print a confirming pattern.
Projection going forward
See Critical Long-Term Review Here
Projection going forward
See Critical Long-Term Review Here
Monday, March 30, 2020
Another Assault To The Edge Of A Cliff
Top Watch Very Much Active- could be a large meaningful move coming up soon.
This is not the first time this type of up-move has printed. It was observed on 3/3/20 (small A-B) but the uniqueness of the pattern was not spotted right away and it resolved quickly back down prior to certain expected targets being hit. A much larger version is printing now and is under a very close watch.
See update 3/31/20 Upper Target Hit- Need Follow-through
Projection going forward
See Critical Long-Term Review Here
This is not the first time this type of up-move has printed. It was observed on 3/3/20 (small A-B) but the uniqueness of the pattern was not spotted right away and it resolved quickly back down prior to certain expected targets being hit. A much larger version is printing now and is under a very close watch.
See update 3/31/20 Upper Target Hit- Need Follow-through
Projection going forward
See Critical Long-Term Review Here
Saturday, March 28, 2020
When Will These Projections Fail?
Update: 3/30/20 3:54pm EST. Maybe heading for the top of the next leg down!
Update: 3/30/20 11:00am EST. ES 2634.50 (June 20 futures) needs to be exceeded to confirm an up leg is still occurring.
First Off: Top Flag Watch is Active. (Smaller 'D', Large 'B') (ES June futures 2663.75 zone?)
Pull Back Likely Completing
Just in from cnbc: 3/29/20, (analysts are giving up)
"The Market Is So Haywire......" Note- we have not given up, (yet)
Even Glenn Neely who is an award-winning analyst is finding challenges with the current moves. (note: when the link opens, the email request is not ours)
"JP Morgan says the market rout is probably past it's worst now" .. hope they are right but would like to see the chart set-up they are looking at.
Post-
The detailed analysis that is being done at VectorSpike is solely based on historical and current data, patterns and estimates (with some boldness required in the decision to publish). Wherever an opinion has overreached into data, the data directive always comes back with the correct result (as long as there are no data errors, mis-reads etc.) So going on that premise, which is the intended direction of this blog, another bold projection possibility is now showing up on the radar and should be presented for review no matter what our opinion may be. Is it infallible? -nothing ever is that but it is a possibility when looking at alignments supporting the idea:
The supposition is based on a unique-looking structural formation (internal vectors pattern) that was observed over a period of 2 or 3 days starting on 2/28/20 ('small 'A'). The formation extended to 3/4/20 (small 'B' top). Then a strong continuation down trend ensued.
A very similar and much larger (3 times the size) formation has been spotted beginning 3/23/20 (smaller 'C' to 'D'). It may be trying to complete somewhere above 3/28/20 closing prices (small 'D', large 'B'). If the pattern completes in a similar fashion (so far it is), then the possibility of a strong continuation of the down-trend also rears it's head.
Those who follow the blog will have seen the projection presented on 3/2/20 which was positing that the 2019 low could be taken out quickly. It was not a light decision to publish that idea. The actual speed with which it did take out lows surprised even us. Again- it was not an opinion but a proposal based on an analysis of collected patterns and data. The current proposal has been completed using a similar approach.
Motley Fool just published an article recommending buying the down market now- referencing how the opportunity was right to 'make a million'. This is foolish (not just 'Motley Fool'-ish) and reckless advice to the general public. Even if a long-term bottom had printed, there needs to be an appropriate period of time for the bearish leveraged etf's to demonstrate a MACD that has printed a crossover down and preferably below it's daily chart zero line. VXX has just now crossed over on the daily but is extremely high and miles away from it's zero. An unsafe environment for anyone not experienced to go long. The weekly on VXX is even more dangerous for anyone considering a long term long investment. It is elevated so high it is even giving us a nose bleed and a long way from looking like turning or even pausing.
Having said that- the likelihood of a huge move back up after the current leg down does conclude is in the outlook. Expectation is that that move could hit between ES 3500-3700+. - This possibility is now under scrutiny in view of the current size of moves so we are reassessing the macro patterns to see if it still fits. That does not matter too much at the moment as the prevailing pointer is down and until a conclusion at a lower price level occurs, it is not an immediate priority only a possibility.
As has been stated here repeatedly- the moves are going to be like no one has ever seen before. Look at the length of the daily candles in the current environment- many are longer than previous total monthly moves. Various MACDs are having some difficulty staying relevant right now using default settings- that may become more difficult going forward which is why a more meaningful analysis along with empirical-based strategies comes into play. The signals employed here are of an empirical nature so the scale has had very little negative effect on the basic premise used. We have had to expand one or two parameters to accommodate larger values but otherwise they are behaving as they do in a more 'normal' scale market so the hope is that it continues to keep us all on the right side.
See Critical Long-Term Review Here
Update: 3/30/20 11:00am EST. ES 2634.50 (June 20 futures) needs to be exceeded to confirm an up leg is still occurring.
Pull Back Likely Completing
Just in from cnbc: 3/29/20, (analysts are giving up)
"The Market Is So Haywire......" Note- we have not given up, (yet)
Even Glenn Neely who is an award-winning analyst is finding challenges with the current moves. (note: when the link opens, the email request is not ours)
"JP Morgan says the market rout is probably past it's worst now" .. hope they are right but would like to see the chart set-up they are looking at.
Post-
The detailed analysis that is being done at VectorSpike is solely based on historical and current data, patterns and estimates (with some boldness required in the decision to publish). Wherever an opinion has overreached into data, the data directive always comes back with the correct result (as long as there are no data errors, mis-reads etc.) So going on that premise, which is the intended direction of this blog, another bold projection possibility is now showing up on the radar and should be presented for review no matter what our opinion may be. Is it infallible? -nothing ever is that but it is a possibility when looking at alignments supporting the idea:
The supposition is based on a unique-looking structural formation (internal vectors pattern) that was observed over a period of 2 or 3 days starting on 2/28/20 ('small 'A'). The formation extended to 3/4/20 (small 'B' top). Then a strong continuation down trend ensued.
A very similar and much larger (3 times the size) formation has been spotted beginning 3/23/20 (smaller 'C' to 'D'). It may be trying to complete somewhere above 3/28/20 closing prices (small 'D', large 'B'). If the pattern completes in a similar fashion (so far it is), then the possibility of a strong continuation of the down-trend also rears it's head.
Those who follow the blog will have seen the projection presented on 3/2/20 which was positing that the 2019 low could be taken out quickly. It was not a light decision to publish that idea. The actual speed with which it did take out lows surprised even us. Again- it was not an opinion but a proposal based on an analysis of collected patterns and data. The current proposal has been completed using a similar approach.
Motley Fool just published an article recommending buying the down market now- referencing how the opportunity was right to 'make a million'. This is foolish (not just 'Motley Fool'-ish) and reckless advice to the general public. Even if a long-term bottom had printed, there needs to be an appropriate period of time for the bearish leveraged etf's to demonstrate a MACD that has printed a crossover down and preferably below it's daily chart zero line. VXX has just now crossed over on the daily but is extremely high and miles away from it's zero. An unsafe environment for anyone not experienced to go long. The weekly on VXX is even more dangerous for anyone considering a long term long investment. It is elevated so high it is even giving us a nose bleed and a long way from looking like turning or even pausing.
Having said that- the likelihood of a huge move back up after the current leg down does conclude is in the outlook. Expectation is that that move could hit between ES 3500-3700+. - This possibility is now under scrutiny in view of the current size of moves so we are reassessing the macro patterns to see if it still fits. That does not matter too much at the moment as the prevailing pointer is down and until a conclusion at a lower price level occurs, it is not an immediate priority only a possibility.
As has been stated here repeatedly- the moves are going to be like no one has ever seen before. Look at the length of the daily candles in the current environment- many are longer than previous total monthly moves. Various MACDs are having some difficulty staying relevant right now using default settings- that may become more difficult going forward which is why a more meaningful analysis along with empirical-based strategies comes into play. The signals employed here are of an empirical nature so the scale has had very little negative effect on the basic premise used. We have had to expand one or two parameters to accommodate larger values but otherwise they are behaving as they do in a more 'normal' scale market so the hope is that it continues to keep us all on the right side.
See Critical Long-Term Review Here
See Important Long-Term VIX Study
..and possible bounces/bottoms: (2/28/20) , {3/23/20}
This Information Is For Entertainment Purposes Only. Financial Loss Can Occur From Investing.
Our favorite go to site- McVerry Report
The alternate scenario is that a small 'E' terminates the move somewhere just below the small 'C' and that position also becomes the large 'A'.
The alternate scenario is that a small 'E' terminates the move somewhere just below the small 'C' and that position also becomes the large 'A'.
Friday, March 27, 2020
Pull Back Likely Completing
See latest post "When Will These Projections Fail?"
EOD: The vectors all checked in with supportive values at the close so expectations are for an upward continuation next week. The large red print late actually struck a higher high and a higher low on the intra-day cash so as long as that low holds- a positive outlook remains short-term.
If that does occur- there is a positive divergence forming in volatility (VXX) so a newer low price there could create even more positive divergence in readiness for the next leg down to commence. A top flag signal should trigger at that point.
See Critical Long-Term Review Here
EOD: The vectors all checked in with supportive values at the close so expectations are for an upward continuation next week. The large red print late actually struck a higher high and a higher low on the intra-day cash so as long as that low holds- a positive outlook remains short-term.
If that does occur- there is a positive divergence forming in volatility (VXX) so a newer low price there could create even more positive divergence in readiness for the next leg down to commence. A top flag signal should trigger at that point.
See Critical Long-Term Review Here
Top Watch Activated!
See latest post- Pull Back Likely Completing
Update 1:40pm EST. Confidence is high in the pending projection of a top occurring soon towards the completion of this leg probably close to anticipated projected targets. None of the expected vector parameters has been seriously violated. We did have to move the targets higher when the previous high was taken out but we have initiated an acute top watch that does not regard targets other than for general reference after the fact. The top flag will be solely announced based on proven, established vector patterns only as per normal.
A distinctly unique and unusual pattern that produced the A-B leg is coincidentally occurring now and looks to be about 2/3 of the distance through if the analysis is correct and so far it is behaving as expected. If this continues to completion within parameters then expectation is for another leg down possibly of larger or as large a move as there has been so far. The alternate would be for a lower gap fill only- but breadth alignments are saying more than that so we will have to see.
Because of the specialized nature of the current unique pattern that is driving prices right now, there could also be the possibility that a top has been produced without a top flag event being required- in which case staying in watch mode will only last for a day or so or until prices clearly show an acceleration down
Update 10:15am EST. Most likely a continuing down day which should give us another down breadth week ending number. Breadth is now 7 down weeks out of 9 total since 1/13/20 with 1 week flat = 77% down weekly outlook so far unless today suddenly reverses which will leave us with 66% down breadth weekly outlook. Still most definitely on the short and medium-term negative outlook.
A top watch is now acutely active. It is strongly indicated that we are close to a topping pattern if not already in it. Target zone prices will be used as a guidance only- top flags will override those. This is similar activity and patterns as the A-B leg shown but on a much larger scale.
On ES (Jun 19 futures)- 2663 is a lower target zone number (for reference only) - a 'top flag' is the primary signal when it triggers.
In posts here there have been repeated warnings about the scale of the current market being quite different from what has been experienced in a very long time (perhaps not since the origins of the market charts themselves). The tendency to hyperbole is a result of misunderstanding where this current environment actually is- potentially a Grand Super Cycle Wave 4 (corrective) beginning. Wave 4's are difficult enough to negotiate at 'normal' scales: the words 'rally' and 'crash' are often used inappropriately in regular environments- 'large/small degree', 'corrective/impulsive', 'up/down' are more accurate but rarely enumerated by the technically challenged such as the media. The fact that a Pandemic is occurring in sequence has everyone rushing to connect the two as if one is driving the other. An article that demonstrates some of these concepts and very likely, incorrect conclusions ('old' parameters no longer working until the current environment changes and it could be a while before that happens)-
See Critical Long-Term Review Here
Update 1:40pm EST. Confidence is high in the pending projection of a top occurring soon towards the completion of this leg probably close to anticipated projected targets. None of the expected vector parameters has been seriously violated. We did have to move the targets higher when the previous high was taken out but we have initiated an acute top watch that does not regard targets other than for general reference after the fact. The top flag will be solely announced based on proven, established vector patterns only as per normal.
A distinctly unique and unusual pattern that produced the A-B leg is coincidentally occurring now and looks to be about 2/3 of the distance through if the analysis is correct and so far it is behaving as expected. If this continues to completion within parameters then expectation is for another leg down possibly of larger or as large a move as there has been so far. The alternate would be for a lower gap fill only- but breadth alignments are saying more than that so we will have to see.
Because of the specialized nature of the current unique pattern that is driving prices right now, there could also be the possibility that a top has been produced without a top flag event being required- in which case staying in watch mode will only last for a day or so or until prices clearly show an acceleration down
Update 10:15am EST. Most likely a continuing down day which should give us another down breadth week ending number. Breadth is now 7 down weeks out of 9 total since 1/13/20 with 1 week flat = 77% down weekly outlook so far unless today suddenly reverses which will leave us with 66% down breadth weekly outlook. Still most definitely on the short and medium-term negative outlook.
A top watch is now acutely active. It is strongly indicated that we are close to a topping pattern if not already in it. Target zone prices will be used as a guidance only- top flags will override those. This is similar activity and patterns as the A-B leg shown but on a much larger scale.
On ES (Jun 19 futures)- 2663 is a lower target zone number (for reference only) - a 'top flag' is the primary signal when it triggers.
In posts here there have been repeated warnings about the scale of the current market being quite different from what has been experienced in a very long time (perhaps not since the origins of the market charts themselves). The tendency to hyperbole is a result of misunderstanding where this current environment actually is- potentially a Grand Super Cycle Wave 4 (corrective) beginning. Wave 4's are difficult enough to negotiate at 'normal' scales: the words 'rally' and 'crash' are often used inappropriately in regular environments- 'large/small degree', 'corrective/impulsive', 'up/down' are more accurate but rarely enumerated by the technically challenged such as the media. The fact that a Pandemic is occurring in sequence has everyone rushing to connect the two as if one is driving the other. An article that demonstrates some of these concepts and very likely, incorrect conclusions ('old' parameters no longer working until the current environment changes and it could be a while before that happens)-
"Why this wild coronavirus rally has Wall Street experts fearing a bull-market trap"
New ways of using conventional tools have had to be invented which is what VectorSpike is continually reviewing to stay ahead of these huge curves in order to bring you what is being seen. The odd projection has been missed slightly whenever the focus shifted too far from the proven parameters but those areas are being addressed. Top flag signal alert timing is currently running at a very high percent and bottom flag signal alerts will hopefully catch up soon.See Critical Long-Term Review Here
Thursday, March 26, 2020
Still Appears To Be Setting Up For Reversal Down
See latest post
Please remain aware that moves are still happening at a much larger scale so patience is required. This is a large, slow-moving vector pattern but it has not yet violated any of the structural parameters associated with it's smaller more compact version. If it does do that- there will be an update detailing it.
Update: 3/26/20 12:00pm EST. Looks like still more upside is required- vectors not yet half-way aligned. That could change quickly once trip points hit and acceleration takes over to make up vector deficits but does look like a way to go yet.
Update: 3/26/20 11:11am EST. ES 2597 zone needs to clear next to keep moving up. Could be a minor pullback only here (ES 2573) if to continue up.
Update: 3/26/20 9:44am EST. A greater high will be required to keep the relative topping vectors aligned correctly. The rate of progress of the geometry so far looks a little short of optimal. Remaining open to that possibility. Timing-wise, today might be too soon to print the optimal pattern. Watching what happens for the rest of today. Nothing significant has changed in the analysis- just needs finalizing today/(tomorrow?) - This would also make sense regarding the scale of what may happen next.
See Critical Long-Term Review Here
Please remain aware that moves are still happening at a much larger scale so patience is required. This is a large, slow-moving vector pattern but it has not yet violated any of the structural parameters associated with it's smaller more compact version. If it does do that- there will be an update detailing it.
Update: 3/26/20 12:00pm EST. Looks like still more upside is required- vectors not yet half-way aligned. That could change quickly once trip points hit and acceleration takes over to make up vector deficits but does look like a way to go yet.
Update: 3/26/20 11:11am EST. ES 2597 zone needs to clear next to keep moving up. Could be a minor pullback only here (ES 2573) if to continue up.
Update: 3/26/20 9:44am EST. A greater high will be required to keep the relative topping vectors aligned correctly. The rate of progress of the geometry so far looks a little short of optimal. Remaining open to that possibility. Timing-wise, today might be too soon to print the optimal pattern. Watching what happens for the rest of today. Nothing significant has changed in the analysis- just needs finalizing today/(tomorrow?) - This would also make sense regarding the scale of what may happen next.
See Critical Long-Term Review Here
Wednesday, March 25, 2020
Setting Up for a Reversal Down/Gap Fill
See latest post
Update: 3/26/20 9:44am EST. It may be that another high greater than 2571.42 on S&P 500 / 2560.75 (ES) will be required to keep the relative topping vectors aligned correctly. The rate of progress of the geometry so far looks a little short of optimal. Remaining open to that possibility. Timing-wise, today might be too soon to print the optimal pattern. Watching what happens for the rest of today. Nothing significant has changed in the analysis- just needs finalizing today/(tomorrow?) - This would also make sense regarding the scale of what may happen next.
Could be setting up for a reversal back down. Several vectors are pointing that way. First resistance test at S&P 2571 zone looks to be forming a potential smack down. A topping flag maybe half way completed and together with a continuation in VXX pattern, looks highly probable pointing to a reversal here. There are price alignments and geometry alignments as well as vectors patterns. There is a gap on S&P 500 between 2344 and 2300- it may be going for that or more. Also, we are approaching week ending and weakness has been the normal for this environment towards the end of the week. The next session will be telling. A retrace short of 2560.75 on the ES (see lower chart) and continuation down from there will be a strong indication.
See Critical Long-Term Review Here
Update: 3/26/20 9:44am EST. It may be that another high greater than 2571.42 on S&P 500 / 2560.75 (ES) will be required to keep the relative topping vectors aligned correctly. The rate of progress of the geometry so far looks a little short of optimal. Remaining open to that possibility. Timing-wise, today might be too soon to print the optimal pattern. Watching what happens for the rest of today. Nothing significant has changed in the analysis- just needs finalizing today/(tomorrow?) - This would also make sense regarding the scale of what may happen next.
Could be setting up for a reversal back down. Several vectors are pointing that way. First resistance test at S&P 2571 zone looks to be forming a potential smack down. A topping flag maybe half way completed and together with a continuation in VXX pattern, looks highly probable pointing to a reversal here. There are price alignments and geometry alignments as well as vectors patterns. There is a gap on S&P 500 between 2344 and 2300- it may be going for that or more. Also, we are approaching week ending and weakness has been the normal for this environment towards the end of the week. The next session will be telling. A retrace short of 2560.75 on the ES (see lower chart) and continuation down from there will be a strong indication.
See Critical Long-Term Review Here
Still In Whipsaw Territory- No Reliable Vectors
Update: 4:12pm EST. Could be setting up for a reversal back down. Several vectors are pointing that way.
See latest post that will be published later this evening,
Update: 12:48pm EST. Coming up to first resistance test at S&P 2531 zone. The rise so far has been underwhelming considering what would be expected with the positive divergence showing on the weekly and daily $nyad MACD. Got to wonder if this leg still has a lower low to print.
There has had to be a detailed assessment of the parameters that determine flag signals. The current environment is new territory as far as price swings / (average true range) but there has been little reason to adjust proven parameters and call flags that aren't actually there. There are vector parameters that do strongly indicate changes in direction but they are only that so far. It is a risk-scenario / border line gamble without an established proven track-record when new parameters / patterns rear up. As a result, the best fit is to go with 'whipsaws' for now even though the vectors in the current environment do give us indications as to changes in direction. Better to sleep nights and watch for proven signals that are more likely to have persistence in a given direction even though it can be tempting to 'chase' - therein can lie ruin.
Having said that, the moves in the market do have sufficient strength to assign extension target potentials which is why those are being posted. They are not recommendations to trade based on mathematical target destinations but more of a way to gauge pattern development between top flags and bounce/bottom calls.
See Critical Long-Term Review Here
See latest post that will be published later this evening,
Update: 12:48pm EST. Coming up to first resistance test at S&P 2531 zone. The rise so far has been underwhelming considering what would be expected with the positive divergence showing on the weekly and daily $nyad MACD. Got to wonder if this leg still has a lower low to print.
There has had to be a detailed assessment of the parameters that determine flag signals. The current environment is new territory as far as price swings / (average true range) but there has been little reason to adjust proven parameters and call flags that aren't actually there. There are vector parameters that do strongly indicate changes in direction but they are only that so far. It is a risk-scenario / border line gamble without an established proven track-record when new parameters / patterns rear up. As a result, the best fit is to go with 'whipsaws' for now even though the vectors in the current environment do give us indications as to changes in direction. Better to sleep nights and watch for proven signals that are more likely to have persistence in a given direction even though it can be tempting to 'chase' - therein can lie ruin.
Having said that, the moves in the market do have sufficient strength to assign extension target potentials which is why those are being posted. They are not recommendations to trade based on mathematical target destinations but more of a way to gauge pattern development between top flags and bounce/bottom calls.
See Critical Long-Term Review Here
Tuesday, March 24, 2020
Multiple Fibonacci Alignments Pointing to Bottom
Update: 7:28pm New upper target zone (zone 2 at 2437.5 has been exceeded). This is still whipsaw territory- no optimal flags have yet printed lower or upper. Be careful. Top flag watch is active.
Update 11:35am EST. The vector that did print on 11/23 was similar to the one that printed on 3/18 which elevated the ES into the current upper target zone 2 area, so target zone 2 now becomes the potential intended target based on that comparison. - Exceeded -new target is higher see above.
Update 9:37am EST.
Potential top targets that may print a top flag prior to new bottom attempt are shown at bottom of page.
Top flag watch is the main active component now.
ES cash is printing several coincidental alignments that may show us the potential bottom. VXX has retraced sufficient to print a top flag in the market at this area (a lower high) prior to the next bottom target (a similar set up also happened on 8/9/19)
See Critical Long-Term Review Here
Update 11:35am EST. The vector that did print on 11/23 was similar to the one that printed on 3/18 which elevated the ES into the current upper target zone 2 area, so target zone 2 now becomes the potential intended target based on that comparison. - Exceeded -new target is higher see above.
Potential top targets that may print a top flag prior to new bottom attempt are shown at bottom of page.
Top flag watch is the main active component now.
ES cash is printing several coincidental alignments that may show us the potential bottom. VXX has retraced sufficient to print a top flag in the market at this area (a lower high) prior to the next bottom target (a similar set up also happened on 8/9/19)
See Critical Long-Term Review Here
Monday, March 23, 2020
Next Up S&P Bottom- Part 2- Volatility Likely Max'd Out- Big Move Coming
See new post targets here
Original post
More evidence the projection from part 1 is on target so far. Bottoming vector watch is active again.
Most likely, timing-wise, could continue for a few more days- weekly ending print?
Update: 3:30pm EST. Going back down for another try at the lows. Still no bottoming vectors.
Update: 1:04pm EST. Bottoming vectors are not aligning as of this update.
Update: 9:08am EST. ES is printing 176 total point hourly green candle! Recommendation is to not chase it. The bottoming vectors need to print in the cash market as a confirmation first. This market will goof you up very quickly. We are determined to stick to proven criteria. That has served quite well so far. Even then, we may not get what we expect but it will not be because we refused to stay in the parameters. That road often leads to a trap.
Alternate: a top flag at a lower market price level is also possible as the VXX is pulling back to critical fib levels (61.8%, 50.0%). This has happened before. 8/9/19 was a pullback in VXX to 50%, where the market printed a top flag and VXX went higher. Market meanwhile went lower. The task now is to watch for top or bottom market flags.
See Critical Long-Term Review Here
Weekly closing does look to require a deeper low. Potentially, but not necessarily after a big retrace up:
Original post
More evidence the projection from part 1 is on target so far. Bottoming vector watch is active again.
Most likely, timing-wise, could continue for a few more days- weekly ending print?
Update: 3:30pm EST. Going back down for another try at the lows. Still no bottoming vectors.
Update: 9:08am EST. ES is printing 176 total point hourly green candle! Recommendation is to not chase it. The bottoming vectors need to print in the cash market as a confirmation first. This market will goof you up very quickly. We are determined to stick to proven criteria. That has served quite well so far. Even then, we may not get what we expect but it will not be because we refused to stay in the parameters. That road often leads to a trap.
Alternate: a top flag at a lower market price level is also possible as the VXX is pulling back to critical fib levels (61.8%, 50.0%). This has happened before. 8/9/19 was a pullback in VXX to 50%, where the market printed a top flag and VXX went higher. Market meanwhile went lower. The task now is to watch for top or bottom market flags.
See Critical Long-Term Review Here
See Important Long-Term VIX Study
..and possible bounces/bottoms: (2/28/20) , {3/6/20, 3/9/20, ? } x 3**
This Information Is For Entertainment Purposes Only. Financial Loss Can Occur From Investing.
Our favorite go to site- McVerry Report
Weekly closing does look to require a deeper low. Potentially, but not necessarily after a big retrace up:
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