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A top of nominal size just flagged so we will need to see how this develops as it is still inside a potential megaphone or other structure so it could prove to be an internal leg or something greater. All vectors are on board the move so far. A retrace to less than 2965.00 is expected. A marginal higher high without volatility lows being taken out will still be potentially valid. Unlike the previous violent drop, expectation is for this one to build momentum in some way prior to the previous lows being challenged.
The signal level on the daily advance-decline ($nyad) is positive at +160 which probably needs to decline into negative territory prior to conditions facilitating a larger down move.
Note: Yesterday 4/29/20 is very close to 30 x Pi calendar days (94) from 1/26/20 -a price top on the previous megaphone. As noted in prior posts, whole round number Pi days (number of days / 3.1416) that are counted between specific dates of prior events can coincide with new events. The theory demonstrated on numerous occasions is that the swinging of a pendulum which is essentially a segment of circular motion is connected to many natural cycles including market timing at various scales- the 8.6 yr cycle being significant (1000 x Pi days) for example. It is only mentioned here for reference. It is never used to create a VectorSpike signal but it is nonetheless of unique interest.
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