Wednesday, February 24, 2021

Structural Pull Back To 'Momentum Top'

Update 12:43pm EST: Nearing a 'Pi-time' intra-day increment as an a-b-c up looks to print with first target approaching at 3918, 3924, 3936 zones.

Original post:
The actual ES futures price where the real downward momentum may commence has yet to print. A VXX price flag at 13.64 zone may be key. Wave 'A' down at 3804 zone looks corrective or may be a double zig-zag and appears to have some intent and strength so far. At this point, the wave labelling is not critical to the expected conclusion. Vectors indicate this potentially will be a minor top. More 'crash' trash talk seems to be here and there which often indicates a mood not conducive to bigger degree tops.

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