2:02pm: VXX hit a fib target at 11.57 - 11.58 zone. Could be closing in on a trigger. Volatility has been headed down most of the last few hours along with the market declining and that most often results in volatility spiking and market retreating further to bring everything back into balance. We shall see.
12:23pm: Several path options are always available but best route now would be for a sustained move lower to develop reaching towards strength > 50% so that a failure parameter can print and a reversal up can commence. Either that or it just abandons the down moves and rears back up but we prefer to see a reversing signal from a low otherwise it may just expand the range up some more before heading back down. Currently there is little to no strength in either direction but bias is still down. Not sure if a right contracting triangle is trying to print. If so, that will likely help resolve direction going forward.
12:07pm: Market is having difficulty regaining bullish strength. Vectors lacking any real motive in either direction.
Close on 3/29 from 3/25 low fell to 40% cumulative bullish strength. No confirmed top and no intra-day failure vector parameters yet so potentially consolidating or in a fourth wave.
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