Tuesday, November 24, 2020

Wave 'C' Down May Not Be Complete

Update: 11:12am EST: As anticipated in a previous post (lower chart- triangle), ES is attempting to break out above the triangle trend line currently drawn. Caution is advised. Looks like red 'c' down did complete after all. Ultimately higher market prices are in play as expected per the chart.

Vaccine 'hype' - while it is positive news, trading goes on between market participants not vaccinators necessarily. Seems like any news event is made to 'fit' an up or down in the market- it's a distraction from reality patterns. Sometimes they coincide but the odds are not reliable. We look at a host of current pattern developments and how they fit historical precedents and adjust accordingly, that usually reduces surprises to a minimum.

Watching for hits in the ES and VXX target zones to create an intermediate top.
-could be more down prior to that occurrence.(wave C)

Note the RSI(upper)/Fisher(lower) indicators on VXX daily are printing a consistently rising positive divergence and have been for a few weeks now. See previous post.

See Critical Long-Term Review Here
The bots will flag here when they see a top. (1/25/202/20/204/9/20)
This Information Is For Entertainment Purposes Only. Financial Loss Can Occur From Investing.
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