Global Trading Signal: 'Neutral/Agitation' -could support the existing bottom/bounce (2/28/20) at (ES) 2852.25 or if a new (higher/lower) bottom prints.
Original post (3/3/20)-
Zooming out to look at VXX (see below the price update charts). Volatility is driving this market waxing and waning in both directions in huge swings and will be for the foreseeable future if the Critical Long-Term Review holds traction. As always- expecting another top flag from the bots when this retrace has completed so check back. Please remain aware- no matter what price patterns are anticipated, ultimately it is the signals- 'top flags' and 'bounces/bottoms' that will progressively determine the structure.
VectorSpike has been blessed with a talented group of contributors and insightful 'eureka' moments that have produced a remarkable track record since the work began publishing blog posts beginning Jan 2020. Thanks also go to Joe McVerry who is helping to get the articles into the wider arena. As long as we continue to keep personnel healthy and equipment well-oiled (in that order of course), the intent is to keep producing timely and accurate updates.
Update: 3/3/20 10:20am EST. chart- room for even higher prices.
Update: 3/3/20 02:58pm EST. 3136/3137 could be A of A-B-C or the retrace is done and dusted with no top flag req'd which doesn't seem the most likely scenario but will have to see what develops. The move came as everyone was sitting comfortably, of course.
3/3/20 EOD:
VXX printed a marginal new high today. Unless it blows out of it's top a lot more, there will be a double negative divergence on the 4hr chart so that would fit the (ES) A-B-C scenario with the (ES) C leg up to come hopefully with a top flag to announce the completion of a retrace up and then off to the races once more. If that is what we do see going forward then there could be follow-on down moves that could strike much deeper. Let's see what the rest of this week brings first.
The weekly advance-decline (nyad) MACD did finish the day slightly turned up after being pushed down throughout today's action so let's see if that means anything in the next few sessions.
Global Trading Signal: 'Neutral/Optimism' (when 'Optimism' reaches 'Elevated' or 'Max'd Out', a top flag should ensue). Since 6am EST. today signal became 'Optimism' and in the face of a corrective leg may have only facilitated the down moves.
As unlikely as it may look, the following propagation values would serve to compel the VXX to align at a deeper retrace level more in line with expectations regarding a pullback of VXX that would then set up a sling shot move much higher for VXX. We will have to see if there is any merit to this going forward. There has not been a top flag signal yet since 2/20/20 and another one is expected before any more long-term developments previously laid out can be primed. Again- it does seem unlikely but wherever the top flag shows it's head will be where the structure prints, whatever the level at that time. The last 'hard' signal was the 'bounce/bottom' on (2/28/20) at (ES) 2852.25 . That does not preclude that another one could still print lower down (or higher up). (The alternative is that the retrace is done and dusted and continues to print lower from somewhere near here or there is some other as yet unknown structure developing). Here it is:
Another look at the weekly advance-decline:
Do not be swayed by headliners- See Critical Long-Term Review Here
Check back for Signals:
The bots will flag here when they see a top. (1/25/20, 2/20/20)
..and possible bounces/bottoms: (2/28/20)
Our favorite go to site- McVerry Report
This information is for entertainment purposes only. Financial loss can occur from investing
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