Tuesday, March 31, 2020

Upper Target Hit- Need Follow-Through

Update: 4/1/20 9:25am EST. 
An upper price extension alignment did hit today and a rejection from there appears to be underway. As was mentioned, the previous pattern that was compared (A-B) had a similar underlying vector format. It resulted in an attenuated price target that fell short of the projected price zone at the time. Applying that logic to today's action might indicate that the high (ES June cash) 2629.50 could be a top. The 'normal' top flag algorithms are not applied in this type of underlying vector configuration. Other criteria will be used. A follow-through should print a confirming pattern.

Projection going forward

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The bots will flag here when they see a top. (1/25/202/20/20)
..and possible bounces/bottoms: (2/28/20) , {3/23/20}
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