Continuation of current uptrend towards significant targets. This top will likely not be the market's final 'Grand Super-Cycle' top just yet even though it looks high. Could be a wave iv top on SVXY followed by a wave v-down and then a likely huge bounce back up more likely to be that particular top. Keep watching. ES 3650 has the potential to resist an easy penetration. So far that looks to be what has occurred.
Watching for hits in the ES and VXX target zones towards creating a top.
Note the RSI(upper)/Fisher(lower) indicators on VXX daily are printing a consistently rising positive divergence and have been since early August 2020. Together with the geometry shown in ES, this could be indicating a bearish conclusion somewhere close.
Our favorite go to site- McVerry Report
No comments:
Post a Comment