Update 1:40pm EST. Confidence is high in the pending projection of a top occurring soon towards the completion of this leg probably close to anticipated projected targets. None of the expected vector parameters has been seriously violated. We did have to move the targets higher when the previous high was taken out but we have initiated an acute top watch that does not regard targets other than for general reference after the fact. The top flag will be solely announced based on proven, established vector patterns only as per normal.
A distinctly unique and unusual pattern that produced the A-B leg is coincidentally occurring now and looks to be about 2/3 of the distance through if the analysis is correct and so far it is behaving as expected. If this continues to completion within parameters then expectation is for another leg down possibly of larger or as large a move as there has been so far. The alternate would be for a lower gap fill only- but breadth alignments are saying more than that so we will have to see.
Because of the specialized nature of the current unique pattern that is driving prices right now, there could also be the possibility that a top has been produced without a top flag event being required- in which case staying in watch mode will only last for a day or so or until prices clearly show an acceleration down
Update 10:15am EST. Most likely a continuing down day which should give us another down breadth week ending number. Breadth is now 7 down weeks out of 9 total since 1/13/20 with 1 week flat = 77% down weekly outlook so far unless today suddenly reverses which will leave us with 66% down breadth weekly outlook. Still most definitely on the short and medium-term negative outlook.
A top watch is now acutely active. It is strongly indicated that we are close to a topping pattern if not already in it. Target zone prices will be used as a guidance only- top flags will override those. This is similar activity and patterns as the A-B leg shown but on a much larger scale.
On ES (Jun 19 futures)- 2663 is a lower target zone number (for reference only) - a 'top flag' is the primary signal when it triggers.
In posts here there have been repeated warnings about the scale of the current market being quite different from what has been experienced in a very long time (perhaps not since the origins of the market charts themselves). The tendency to hyperbole is a result of misunderstanding where this current environment actually is- potentially a Grand Super Cycle Wave 4 (corrective) beginning. Wave 4's are difficult enough to negotiate at 'normal' scales: the words 'rally' and 'crash' are often used inappropriately in regular environments- 'large/small degree', 'corrective/impulsive', 'up/down' are more accurate but rarely enumerated by the technically challenged such as the media. The fact that a Pandemic is occurring in sequence has everyone rushing to connect the two as if one is driving the other. An article that demonstrates some of these concepts and very likely, incorrect conclusions ('old' parameters no longer working until the current environment changes and it could be a while before that happens)-
"Why this wild coronavirus rally has Wall Street experts fearing a bull-market trap"
New ways of using conventional tools have had to be invented which is what VectorSpike is continually reviewing to stay ahead of these huge curves in order to bring you what is being seen. The odd projection has been missed slightly whenever the focus shifted too far from the proven parameters but those areas are being addressed. Top flag signal alert timing is currently running at a very high percent and bottom flag signal alerts will hopefully catch up soon.See Critical Long-Term Review Here
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