Potential Megaphone In Right Shoulder Position

If this continues to print a megaphone structure either right shoulder or more, chances are it may be a precursor to a minor top. Note the dramatic, rapid drop 'C-D' typical in megaphone structures labeled with an 'A' at the top first hit.

Bottom chart has printed a tiny 5 down and retracement up is currently showing. VXX has a gap that may need filling.

Headline from this morning:

Note that this is typical 'advice' that is based in purely subjective observations. Right or a bit off- no matter, the only historical. established way to analyze the market is with repeatable measurements of many and varied varieties over time periods and at different degrees. Stick with measurable vectors of the type we try to present. Market volatility is currently approaching surprise size price moves once again in case you aren't already acutely aware.

The minor top in the market that we are expecting could be a fast move in volatility and volatility derivatives which might consequently prove to be large price moves in those derivatives because of the expected acceleration possibly over 5 sessions typically. More than a few will panic if caught on the wrong side.

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