See post for 3/31/2021
Best fit for the last two days of rapid failing strength posits a "d" top at the megaphone as redrawn. Option is to drop to center line and pop to the next high. We will be able to get a better idea by measuring the drop vector parameters if and when that happens. Otherwise, back to new highs.
See Critical Long-Term Review Here
The bots will flag here when they see a top. (1/25/20, 2/20/20, 4/9/20)
This Information Is For Entertainment Purposes Only. Financial Loss Can Occur From Investing.
Our favorite go to site- McVerry Report
Was 15th Feb intermediate top and 18th Mar as "THE" top? Or 18th March is another intermediate top with major top coming later in May/June?
ReplyDeleteVarun. Thank you for your question. Lots of 'tradable tops' are appearing in this mother of all zig-zag environments and it is difficult to project the pattern at a medium degree other than to closely watch extensions and develop a most likely fit based on parameters the way we do it. The current high at 3/17- 3/18/2021 is likely not the final high in the higher degree environment but it has the potential to create a medium degree correction. Summer is still on the radar for some serious tops to develop. Hope this helps. Stuart
ReplyDeleteThank you for your reply!
DeleteAll major indices are diverging, NDX and RUSSEL had hard download acceleration. With SPX reaching new highs in summer, how does NDX and RUSSEL fit?
Varun, Most likely since these other instruments sometimes amplify or attenuate percentage movements in SP-500 or the Dow, the current action in these could be indicating hits at tops occurring in different time frames. For example- Russell 2000 started hitting daily closing highs around Jan 17 2020 while NDX continued gaining until Feb 19 2020 approximately but, generally speaking, both of these mostly trend with the main indexes so they may also follow the summer time frame if that's how the main indexes roll. That date time frame is a very rough estimate as far as specific dates.
ReplyDeleteAlso note that we do not perform wave extension counts on these other instruments so the actual top price zones are unknown without that estimate being done.
ReplyDelete