Projection To New All-Time Highs But Watch Out.

Update: 3:31pm EST:  A reasonably large acceleration in breadth is not producing equitable market impact relatively speaking so we will see what the week-end closing brings us tomorrow.

Sorry- the market DOES NOT CARE who gets to sit at the top of the government pile, it only cares about heavy cash-laden investors ready for action TODAY no matter how they got here. Traders are buying and selling to each other in the auction yard. That is the only action we focus on.

Update: 10:00am EST: VXX 21.38 zone may produce a reaction. 

Remember:

The controlling structure may be a medium degree wave 4 up about to complete after this leg bounces 

back up to a new high on ES and on *SVXY- See related post

Note the 'gap' at 'D' above the trend line which suggests an up-leg that will take out the upper complimentary trend line as projected. It did not double-back to hit the trend line and that is often telling.

The roughly-drafted trend lines describe a medium-term contracting triangle about to be broken to the upside. Will ES retrace down from that trend line zone prior to reaching the final highs? Possibly.

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)

This Information Is For Entertainment Purposes Only. Financial Loss Can Occur From Investing.

Our favorite go to site- McVerry Report