The Previous 'Rare' Fib Extension Just Got Longer

Update: 3/12/20 9:50am EST. Looking at ES 2493 zone for bottom #3

Chart at 10:12am EST. Is the third time a charm? -

Also note that Global Trading Signal has been very weak in it's 'Agitation' response overall given the depth of the move. The third vector did look close to being acceptable (yesterday). This leaves it open as far as more eventual drop being likely due to the lack of disturbance in that signal during this drop.

Original post: It was discussed earlier whether it might take a total of 3** bounce 'calls' to create a turn as it did in 2018. That looks like a minimum for the current set up. Even though the following shows an alignment of rare extension , it may not yet be complete. Could be headed for a total unknown point drop on the ES before it's done. An actual strong reversal will be the first real signal wherever that occurs - here or lower. The measured extensions have had reasonable success so far but when multiple overlapping sequences show up, there is finite limit to accuracy overall. However- it looks as though the lower trend line of the megaphone origin beginning 4/2/18 is the likely target which would give a 'hard point' in value that has been reliable as far as megaphone geometry targets since the top of this leg began. This looks to be the potential in SVXY which is one of the volatility derivatives around which the study is now pivoting. Often, the volatility derivatives provide the limiting targets especially when the current leg move is large compared with the market index. It is possible that anything other than a very strong bounce will simply produce a low-hanging bear flag. See bottom chart(s).

See Critical Long-Term Review Here

See Important Long-Term VIX Study

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, 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

The Main Study (Mega-Structure) is pivoting around SVXY: