Update: 3/11/21 11:16am EST: Watching price level ES 3957 which gives us a cash level close to the no cash high at 3960 zone from 2/15/21. Still expecting a wave 4 to be printing as an expanding triangle so new highs in cash can be expected.
original post-
After reviewing all the main indexes, the proposed projection is that we have indeed most likely hit a major overhead resistance in ES futures and very possibly UPRO. The overlapping action looks like a wave 4 down underway at a medium degree that has yet to conclude. A wave 5? (of alt 3 top chart) up should trigger after that which takes VXX to it's expected target giving us a medium top.
Top chart: Very Long Term: shows a potential resistance extension at 4030 price zone using white arrow wave lengths. A smaller, medium term wave 3 could now pull back to 3650 zone for a strike at the wave 5 (of alt 3?) high above 4030. See lower chart. Could also be a large monthly terminating megaphone with much higher highs to come. Potential for a pullback into the 2700 zone is possible first (megaphone center) after VXX 13.46 hits.
Labels may be off but basic price level intent may well be the correct analysis based on vector patterns.
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
No comments:
Post a Comment