Thursday, January 21, 2021

Critical 'Pending-Top' Signal Arrives

One of the things that particularly shows up as prices begin to zero in on a target number is a low penetration in the VIX. In the current environment there has been long-term chronic support line since 11/30 comprising a 6-point equi-spaced lower limit. That line is finally seeing penetration. 

At the same time we are seeing a flattened 'S' in the weekly NYAD breadth MACD SIGNAL line (red) develop. See bottom chart. Note how much less amplitude there is than the previous. This is a pointer to the expectation posted here that the pending top will be that of a less dramatic correction though still fairly significant as far as a potential trade. Post this next correction, new highs will be expected. This is a high degree structure currently developing not usually seen in a 'normal' lifetime.

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.
Our favorite go to site- McVerry Report



No comments:

Post a Comment