Friday, March 26, 2021

Needs More Stable Top Structure Build

EOD: Looks like the construction line upper targets are where the market did go. Not sure yet about the strength to follow through by a lot more though. Certainly could print a higher number as SP-500 still has a first draft target at 4029 zone which is 1.3 % higher.

12:02 pm
 Instability in vectors is still elevated but not at extremes so far today (inversion condition) so prices keep plodding along. Inversion conditions occurred at blue arrows on 3/20 and 3/24 for a few hours prior to the slap down for example.

11:11 am: 3927.50 was a tiny 'iii' up and the vectors are unstable so far today so we shall see if that smooths out or if it is simply a tiny wave 'iv' behavior before the upper target 'v' prints. Bets are off regarding upper targets printing without more stability showing or if they do print with instability, it likely will produce a slap down.

The potential for a gap fill is still on the table.

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