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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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