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
No comments:
Post a Comment