3/6/20 Good Evidence "B" Wave Down In Place

See new post today 3/9/20

3/8/20: 8:30pm EST.

So far ES 2819.0 overnight has taken out the previous low by 1.2%.

-Will have to see what the weekly price moves bring one more time. Could still be #2 bottoming. It is possible that only 2 of 3 vectors of bottom #2 may have printed so far. Other analytics are still pointing to a potential retrace up needing to complete. If new low confirms in cash then still looking for an "A" wave up. "B" wave is void as far as labelling.

Less likely alternate once again is that the retrace is done and dusted.

Since 4:30pm EST. Global Trading Signal: "Excessive Agitation" could suggest it is a continuance of bottom #2. 

URGING EVERYONE TO PLEASE SEE THE FOLLOWING ITEM(S) ESPECIALLY IN THE PERSPECTIVE OF THE CURRENT (VIRUS AND MARKET) 'PANIC' THAT IS BEING TOUTED. THE CURRENT MARKET SITUATION WAS MOST LIKELY INITIATED STARTING 2 YRS AGO WITH AN UNPRECEDENTED VIX SPIKE THAT KICKED OFF A GIGANTIC STRUCTURE AROUND VOLATILITY DERIVATIVES. CURRENT MOVES WERE ALWAYS COMING. THE REPEATED POSTS HERE DESCRIBED THE IMMINENCE OF BIG MOVES RELATED TO THE 2018 AND TO A LESSER EXTENT (FRACTALLY), THE 2015 VIX SPIKE. YES THE VIRUS IS A CONCERN BUT IT IS NOT THE COMPLETE PICTURE. THERE IS ALSO A VERY DISTURBING SITUATION IN BANK REPO MARKET- ALL CONNECTED OF COURSE. NOT THE END OF EVERYTHING. THANKS.

See Critical Long-Term Review Here

See Important Long-Term VIX Study

Original post:

Maybe enough - two potential bottoms and one up wave to create a rough target estimate. Looks doable. Went back to conventional A-B-C 'corrective' labelling for now. The weekly $nyad MACD signal is about as bad as you are ever going to see it and sends a very strong message that lower market prices are just getting started (next, after a possible retrace up to "C").

Medium term speculative illustration shown at bottom of page. Note- since price moves are much deeper now in comparison, the time scale is probably going to be compressed. The comparison with 2008 does not imply that the evidence shows a similar long-term top occurring now. It is intended as a purely graphical mechanism comparison that might partially fit the current situation going forward relative to how the weekly advance-decline ($nyad) MACD chart might behave over the next 3-6 months. It could generally ascend while prices are descending. That movement might confuse an observer but less so if viewed using historical examples. There is also the potential to come out the other end and for prices to attempt to strike S&P 3500 (2021?) as was mentioned in other posts. A positively inclined chart would very much support this idea. A lot more needs to resolve short-term before we get to that point however.

Added 3/8/20:

VIX weekly closing chart also says lots regarding where we are.

See Critical Long-Term Review Here

First strategy is to not get on the wrong side of the market. Long term wkly: $nyad MACD Signal (-)273 (RED) with sm positive div.on histo bars. Short term daily: Currently printing potential 2nd bottom. Action: Wait for short-term direction confirmation viewed from inside wkly red.

VXX wkly: MACD strong ascending towards 0 (more upside available) Daily: At/near peak value.

The bots will flag here when they see a top. (1/25/20, 2/20/20)

..and possible bounces/bottoms: (2/28/20) , 3/6/20)
Our favorite go to site- McVerry Report

This information is for entertainment purposes only. Financial loss can occur from investing