Update 12:57pm EST: Vectors indicate higher gaps in VXX and lower ones in SVXY need closing (market needs to pullback short term). Than a sling shot to new highs. The pullback could well take several trading days until the new high sling shot occurs.
Fifth wave up ('v') still valid above ES futures 3868.50.
VIX is about to challenge it's lows from 11/27/20. Breadth is bullish overall. Everything looks aligned for more upside eventually on a weekly basis. We will adjust the outlook as needed.
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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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Thursday, February 11, 2021
Fifth Wave Up Still Valid- ES & SVXY Projected Targets
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