EOD: This setup may warrant short-term caution: Expectation is for a short-term pullback that takes the breadth MACD lower and then a large 'E' to print near 3800. VXX low from 12/9/20 is still intact and just successfully re-tested a prior gap at the 12/9 low so could be a move in volatility about to transpire sooner than later.
original post-
The post on 12/24/20 that reviewed a potential time and price confluence targeting 12/30/20 is still holding the high that was created on 12/29/20. There has not yet been any drama in price action but it may be a touchstone for some kind of structural action prior to a top printing. Breadth continues to print towards the negative direction but is not yet a negative signal on the weekly. A high above 3747.75 could still print short-term and remain in the time confluence window so we will have to see.
There is another time confluence potential on 2/7/20 but that is a small way out from here. The market may need time between now and then to establish a decent looking negative weekly MACD signal line.
Currently- Looks like ES futures is attacking the trend line and may need to hit 3747.75 or more in cash.
If the small megaphone shown prints an 'e' correctly, then there could be a modest decline of some sort inside it.
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