Previously there was a larger move up anticipated but subsequent to further review there is reason to believe that outlook has changed short-term. There will be much higher targets later but some pullbacks are likely required before then.
VIX likely drop to 20's first and VXX revised target zone lows 13.85 - 13.64 no matter where ES futures hits at that time very likely market acceleration down to begin proper.
Optimism is being driven once again after recent issues. That does not guarantee a 'top' even a minor one but lack of optimism is usually the more bullish so potentially a contrarian set up. We shall see. Our analysis strictly looks at vector signals and that assessment is what drives our analysis. No subjectivity is used in place of data analysis other than observational comments.
Bottom chart supports a minor top likely as the divergence on the NYAD MACD at the DAILY SCALE is showing the most decline. Larger tops will print a weekly decline of more depth on the MACD than that showing currently. Also note the "very short term oversold" flag on the daily actual MACD print that took out -200 to the downside. Larger bottoms will print below -200 in a similar fashion PLUS the histo bar will hit or take out -200 also. That is not the case here yet.
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)
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