Down Side Target Zone Looks To Extend

Update 11:05am: ES 3260 zone looks like a good candidate for a first nested wave 'iii' area on both  ES down and VXX up (27.74). More market decline is likely expected. Nested iii-iv, iii-iv, -v will likely overlap and look compressed until completion. Completion could be close to the previous ES low zone of 3196 on 9/24/20. Then a strong move up to finish the wave 4 up on SVXY is anticipated.

Update 10:07am: ES 3292 zone is an alternate measured target that may react.

ES is most likely not done as VXX vectors look to extend even higher. Could be a pullback pending (red 'B' up?) before that happens. Longer term prognosis is that a contracting triangle 'look' could finish printing with an upside breakout that could 'wrong foot' anyone not paying attention.

Gentle Reminder:

Please do not forget:

The controlling structure may be a medium degree wave 4 up about to complete on SVXY- See related post

See Critical Long-Term Review Here

The bots will flag here when they see a top. (1/25/20, 2/20/20, 9/4/20)

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