See Monday update 3/22/21
Waves look like more action is needed to complete then expect a retrace perhaps even new highs when we see a daily positive divergence on NYAD MACD. Currently it has not printed the minimum for a meaningful bottom. The leg from March 4 low still has room for a high to print above the current (ES > 3978.50). There is a cash gap between 3825 and 3850 roughly that could be an attractant.
Lower Chart is a current overview. Wave labels have been updated. Note UPRO and SVXY price 'inversion'. This is not usual and posits possibly much lower prices to come eventually for SVXY. Then it should recover towards outperforming UPRO. That could be a long way off given the very long term patterns and could indicate a 'second wave' of lower prices for SVXY after the next lows then retrace up. We appear to be already in an area of major correction not seen for a few generations. Expanding patterns will keep printing new highs and deep pullbacks until the big one arrives later on.
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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