On The Move- More Downside Forthcoming

EOD: VXX wave iv pullback looks done. Next nested wave iii up probably underway. Market remains in decline mode.

Update 1:52pm: VXX most likely working on it's first nested wave iv pullback. Expectation is for more VXX upside to come (market continues modest decline).

Update 11:46pm: Looks like VXX is nesting i-ii, i-ii up and working on first nested iii target. This will most likely take time to complete. Meanwhile, it would be expedient to see weekly breadth numbers deteriorate in expectation for the real market top to appear later on. (This would be a wave 4 up completion on SVXY that would then produce a wave 5 down to new lows on SVXY but only a partial pull back on the general market). This disconnect between SVXY and the general market does happen often and at larger degrees the disconnect also gets large.

New VXX higher targets are in focus. After those targets hit, most likely a reversal to market new highs to complete a larger degree wave 4 on SVXY. It is expected that VXX would take out it's lows at that time. Still looks like the market is in no hurry so be prepared to wait it out.

Please do not forget:
The controlling structure may be a medium degree wave 4 up about to complete on SVXY- See related post

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

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