Update: 2:47pm EST. Looks like ES will target prices a little higher (2887.25) but still getting close to a resolution. VXX has a possible lower fib. target at 36.95 zone. it is currently 37.91 low. It is not required to hit the lower fib. target -it's just a possible extension target within a standard range heading down = 38.22 to 36.95 (today's calculation)
Could be nearing completion unless new cash highs are in the market intentions. The remaining gaps lower in VXX (volatility derivative) are closing so that is important although it is not far away from taking out it's low from 4/14/20. A not surprising development given how many were expecting another leg down. The negativity burn off continues until it completes. Prior ES high of 2885 from 4/17/20 (o/night) is still holding as is VXX low from 4/14/20. All the vectors look to be trying to reverse which will support more market downside so we will see how well those close out today.
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