The overlapping movement on the hourly (though it has some strength on the daily), could be indicating a pre-top decline. This is where the ES futures bottoms temporarily then heads higher but the VXX does not print a new low. Then comes the real McCoy down from a new ES high. There could also be no new high but a deep retrace on ES cash.
The current drop of 6.6% cash from the existing potential pre-top high is larger than the previous which was closer to 3.7% (78% less) so that could be a mitigating factor but not necessarily an eliminating factor since volatility is higher in the current environment. Either way, it looks like VXX has printed it's low.
The 'speculative chart' at the bottom is exactly that- speculative with a bullish leaning. It could be that we are currently in a wave 4 that is printing at several degrees including the 'big one' that has yet to come (click on the link 'Critical Long Term Review Here' below)- so we are relying on proven indicators to keep us in the correct projection. Wave 4's are notoriously twisty so remaining focused on fundamentals should keep us aligned as it develops.
See Critical Long-Term Review Here
This Information Is For Entertainment Purposes Only. Financial Loss Can Occur From Investing.
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