See latest post: "Another SuperCycle Bear Set up?"
Update: 3/17/20 10:40am EST. Could be a petite bear flag or a pullback on the VXX perhaps going for gap fill on that instrument before heading up again. aka. not a confirmed bottom yet. Possibly setting up a mid-week head fake so the weekly (Friday?) can move lower. Weekly time frame has been doing that consistently. Let's see.
Original post:
(First off apologies to all the EW technicians for the title but we think the point needs to be made whether the labelling is correct or not.)
When the projection referred to below "Critical Long-Term Review" was published - it was a bold move that is not often undertaken in this way by VectorSpike. Little did we realize how closely to what is happening it would print. The speed of the first leg was a surprise, but not the extent which is still printing and probably not done yet. A retrace will be expected before a third continuation down. Either that or it will go straight for the ultimate target. We could say that we would doubt that because of the positive divergences that are beginning to show but this environment has been anything but compliant so we will see if that occurs. Having said that- if it does break up- could be more big stuff and deep so look out! Market is in a mood to do anything.
Update: 3/17/20 10:40am EST. Could be a petite bear flag or a pullback on the VXX perhaps going for gap fill on that instrument before heading up again. aka. not a confirmed bottom yet. Possibly setting up a mid-week head fake so the weekly (Friday?) can move lower. Weekly time frame has been doing that consistently. Let's see.
Original post:
(First off apologies to all the EW technicians for the title but we think the point needs to be made whether the labelling is correct or not.)
When the projection referred to below "Critical Long-Term Review" was published - it was a bold move that is not often undertaken in this way by VectorSpike. Little did we realize how closely to what is happening it would print. The speed of the first leg was a surprise, but not the extent which is still printing and probably not done yet. A retrace will be expected before a third continuation down. Either that or it will go straight for the ultimate target. We could say that we would doubt that because of the positive divergences that are beginning to show but this environment has been anything but compliant so we will see if that occurs. Having said that- if it does break up- could be more big stuff and deep so look out! Market is in a mood to do anything.
See Important Long-Term VIX Study
..and possible bounces/bottoms: (2/28/20) , {3/6/20, 3/9/20, ? } x 3**
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Our favorite go to site- McVerry Report
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