Pivot / Head & Shoulder Under Construction

After hours: Updated structure

 EOD: Vector move ratio says 83% that today's low printed a significant number so could still be a re-test tomorrow a slight amount above or below that number. This leaves a higher 'head' possibility to remain on the table.

3:49pm EST: There calculates to be a 'iii' down to 4115.25 on a 5 min chart using fib extensions. Wave 'i' down terminating at 4150 zone. This was a tricksy-trap as an expanding triangle in a right shoulder position more often breaks up not down. Probably isn't done yet. Closing will give us a clue.

1:19pm EST: Could still be an expanding pattern with a 'c-d' (typically fast / deep) leg that precedes the move much higher. We will have to see. 1:55pm OR MAYBE NOT. Pivot pattern could be trying to print- 'top' still to come.

11:32am EST: Target price zone ES 4205 or more if it is going higher. So far ES price is expanding higher / lower from 4/21 3:00pm. Likely new high yet to print.

10:50am EST: Could be expanding to print another high especially since VIX has a gap lower at 16.32 to close (minimum). Probable total of three more weeks to get anything a hat can be hung on. Tops take time to unwind selling positions in the initial stages but then accelerate right before the tipping point ('final' market high) as shown on first chart on this post.

Original post:
Definitely need more meaningful activity to complete the topping process. A pivot still has not been confirmed and that is pretty much required to complete before a final high prints- along with several other metrics referred to here recently. Looks promising so far.

If prices expand in a range around ES 4161, then a new high will most likely be imminent. That could produce a 'head' higher up. Otherwise a triangle that breaks down may confirm a right shoulder from here (or breaks up to a potential 'head' that way). Either action will be a signal. Neither means we wait some more.

See Critical Long-Term UPDATED 4/12/2021 Review Here
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