Top chart: ES futures estimated lower targets
Next chart: SVXY inverse volatility current (PRE-TOP?)
Bottom chart: SVXY inverse volatility PRE-TOP 2020.
Key take-away on charts 2 and 3 is that inverse volatility is showing a 'clean' impulse move towards wave 'iii' down. Once NYAD MACD daily prints a higher number while SVXY (and often ES) prints lower, wave 'iii' down has likely printed. Notice the identical monthly dates between 2021 and 2020 - those more likely are just 'coincidental' but more noteworthy because they are both weekly and month-end time windows.
On a previous post, there was an estimated Pi date confluence at 2/7/21- this could potentially be close to the bottoming date on the current leg as some Pi dates are a marker for a time interval to conclude and a reversal to ensue.
VXX is showing good relative strength to it's upside on a pullback in the VIX. If that continues, it will support higher VXX and lower ES futures / SVXY as anticipated.
Quick reminder: 'news event' = 'market move' (not likely- unproven logic confluence):
"Markets rise on hopes for a stimulus plan" - Sorry..probably ain't it..more likely breadth needs to come up in time for bottom of this leg to hit lower and then create a market bounce. If it coincides, it's because sometimes cycles do. ie: investor buy/sell group behavior times out close to group behavior elsewhere such as law-makers agreeing/disagreeing. Always true no matter what it 'looks' like. Sometimes the cycles lead/lag each other. Watch the charts and the related fib wave extensions.
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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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