After a detailed review of vector action over the last few weeks, we are now considering this top to have a chance of having printed (a volatility bottom) on Dec 9 at least as far as VXX which is now displaying hits at two degrees (medium and short terms) at the same price target (16.20 zone) that occurred on Dec 9 2020.
While technically it is still possible for ES to reach a new high, the chance odds for that have gone lower since VXX may have bottomed at the degree that encompasses this leg. Often VXX leads/lags the market so if this is a case of leading, it could remain close to it's low while the market moves into a top wherever that occurs- higher or not -a similar set-up happened between Jan 24 and the top on Feb 20 2020 where VXX stayed above it's low while ES cash went higher daily. We will remain patient and closely watch all vectors for more clues.
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The bots will flag here when they see a top. (1/25/20, 2/20/20, 4/9/20)
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