Trend Line Squeeze- Downside Targets

Update 11:23am: 3377.75 is an ES downside target zone which may coincide with VXX 23.78 first upside zone. Looks like it's tightening in around that target zone.

Update 11:10am: VXX could be heading for targets shown. Market needs to descend fully. Could take the rest of the week with a negative breadth printed by then hopefully. That would get the set up ready for new highs on negative weekly breadth that could possibly print a more reliable top.

Opening gaps today (if any) will most likely spend the rest of today back-filling to eat up even more time. Eventually, prices may run out of room for places to go (up or down). We are still waiting for VXX upside targets to complete (down side in the market). VXX chart is shown on the right overlay- white down arrows are a measured move that may have completed.

9:10 am: ES targets 3412 (already hit) or 3402 zone would equal a i-ii-iii down on a downward fib extension from small white 'e'.

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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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